Vietnam Electricity loses $701 mln in first half
State utility Vietnam Electricity (EVN) reported a consolidated loss of VND16,586 billion ($701 million) in the first six months of the year as the price of fuel for electricity production like coal, oil and gas sharply increased.
By June 30, EVN's total assets reached about VND673,157 billion ($28.43 billion), down nearly 4.6% compared to the beginning of the year. Of this, fixed assets hit nearly VND443,295 billion ($18.72 billion), according to its consolidated financial report.
By the end of the second quarter, EVN's equity stayed at VND230,680 billion ($9.74 billion), down more than VND17,230 billion ($727.8 million) against the beginning of the year.
Vietnam's power system generated 181.92 billion kWh in the first eight months of 2022, up 5% year-on-year, according to EVN data.
In the period, coal-fired power accounted for the biggest portion of electricity generated at 71.67 billion kWh, or 39.4%. Other sources included hydropower - 63.25 billion kWh, or 34.8%; renewable energy - 24.95 billion kWh, or 13.7%; gas-fired power - 19.67 billion kWh, or 10.8%; and imported electricity - 1.91 billion kWh, or 1%.
Last week, Copenhagen Infrastructure Partners (CIP) expressed its hope to develop large-scale offshore wind power projects and transmission lines in partnership with EVN.
Vietnam earned $40.8 billion from exporting agriculture, forestry and fisheries products in the first nine months of this year, up 15.2% year-on-year.
Economy - Sun, October 2, 2022 | 2:22 pm GTM+7
Hanoi, Bac Ninh and Hung Yen authorities have committed to handing over 1,341 hectares of land, or 70%, before June 30 next year so the Hanoi Ring Road 4 project can break ground as scheduled.
Infrastructure - Sun, October 2, 2022 | 2:00 pm GTM+7
Three workers were conducting maintenance work on gas pipelines at Formosa’s thermal power plant in Ha Tinh province when an explosion occurred, killing one and severely injuring the other two.
Society - Sun, October 2, 2022 | 11:51 am GTM+7
Vietnamese regulators need to fasten and simplify legal steps to encourage public bond issuances as enterprises usually opt for private placements, say experts.
Finance - Sun, October 2, 2022 | 10:36 am GTM+7
Vietnam welcomed 1.87 million foreign visitors in the first nine months of the year, up 16.4 times year-on-year, with South Korea and the U.S. leading the pack.
Travel - Sat, October 1, 2022 | 8:26 pm GTM+7
Molex, a U.S. manufacturer of electronic, electrical and fiber optic connectivity systems, has expanded its manufacturing facility in Hanoi with solar panel installation.
Industries - Sat, October 1, 2022 | 6:46 pm GTM+7
State-owned Vietnam Electricity (EVN) has asked Trungnam Group to put the 172-megawatt capacity portion without a pricing mechanism of its 450 MW solar farm in Ninh Thuan into the competitive power generation market.
Energy - Sat, October 1, 2022 | 3:54 pm GTM+7
Spectre, a Danish maker of functional garments for outdoor sports brands, started operating its $17 million factory in An Giang province Friday, the company’s third in Vietnam.
Industries - Sat, October 1, 2022 | 3:06 pm GTM+7
A Dong Thap province court on Friday handed a death sentence to Nguyen Trung Thanh, chief accountant of Filipino-invested Pilmico Vietnam, on corruption charges.
Society - Sat, October 1, 2022 | 2:43 pm GTM+7
An appeals court in Hanoi has reduced the jail term for former deputy minister of health Truong Quoc Cuong to three years, one year less than sentence awarded by the court of first instance in May.
Society - Sat, October 1, 2022 | 11:05 am GTM+7
Liquidity in the townhouse and villa segment, once feverishly high in both Hanoi and Ho Chi Minh City, has been drying up in recent months.
Real Estate - Sat, October 1, 2022 | 9:50 am GTM+7
American energy corporation AES has received in-principle approval from the Ministry of Industry and Trade for its VND50,432 billion ($2.11 billion) Son My 2 LNG-to-power project in the south-central province of Binh Thuan.
Energy - Fri, September 30, 2022 | 9:24 pm GTM+7
Coro Energy has completed commissioning of its Vietnam rooftop solar pilot project, the UK-based energy firm announced Friday.
Energy - Fri, September 30, 2022 | 6:59 pm GTM+7