PV Power fulfills 23 percent of yearly revenue target in Q1
PetroVietnam Power Corporation (PV Power) reported revenue of nearly 7.8 trillion VND (334.7 million USD) in the first quarter of this year, more than 23 percent of the annual goal.
An overview of Ca Mau 1 and Ca Mau 2 Power Plants run by PV Power in the southern province of Ca Mau.(Photo: pvpower.vn)
Hanoi (VNA) - PetroVietnamPower Corporation (PV Power) reported revenue of nearly 7.8 trillion VND (334.7million USD) in the first quarter of this year, more than 23 percent of theannual goal.
The company recorded more than 5,267 million kWh of electricity output in thequarter.
In March alone, electricity output reached 2.1 billion kWh, exceeding 4 percentof the monthly plan. Revenue from factories reached 3.1 trillion VND, 98 percentof the monthly plan.
In April, PV Power, a fully-owned company of the Vietnam National Oil and GasGroup, expects to reach electricity output of 1.9 million kWh and revenue of 2.98trillion VND.
During March, Ca Mau 1 and Ca Mau 2 Power Plants’ output reached 745.01 millionkWh, equivalent to 117.8 percent of the monthly plan. Vung Ang 1 Thermal PowerPlant’s output also exceeded its goal by 28 percent, reaching 751.86 millionkWh.
In contrast, Nhon Trach 1 Plant saw electricity output lower at 122.6 millionkWh, only 44.5 percent of its target. Nhon Trach 2 factory achieved 95 percentof the plan.
Regarding the two new projects of Nhon Trach 3 and Nhon Trach 4 power plants,PV Power has completed the project feasibility study report and submitted it tothe Ministry of Industry and Trade for basic design evaluation and the Ministryof Natural Resources and Environment for approval of the environmental impactassessment report.
After receiving feedback, PV Power will seek the approval of the GeneralMeeting of Shareholders for project construction investment.
The corporation is working with credit institutions and banks to seek capitalfor the projects, including with EVN EPTC and PV Gas to negotiate the contentsin the power purchase agreement and gas purchase agreement for the projects./.
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The PetroVietnam Gas Corporation (PV Gas) will be a supplier of liquefied natural gas (LNG) for the Nhon Trach 3 and 4 power plants under a framework agreement between the firm with the PetroVietnam Power Corporation (PV Power).
The PetroVietnam Power Corporation (PV Power) is accelerating the raising of 32 trillion VND (1.4 billion USD) for its Nhon Trach 3 & 4 thermal power plants.
PV Power, an subordinate company of the Vietnam Oil and Gas Group (PetroVietnam), reported positive business results in the first five months of this year despite difficulties the company faced in generating power.
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An overview of Ca Mau 1 and Ca Mau 2 Power Plants run by PV Power in the southern province of Ca Mau.(Photo: pvpower.vn) 
