PV Power completes 89.5 percent of revenue target

In February, PV Power plans to have an estimated power output of more than 1.46 billion kWh and expects revenue of 2.3 trillion VND. (Photo: tinnhanhchungkhoan.vn)

Hanoi (VNS/VNA) - PetroVietnam Power Corporation (PV Power) earned 2.5 trillion VND (108 million USD) in revenue in the first month of this year.

This fulfilled 89.5 percent of the month's target due to a reduction in revenue from Nhon Trach 1 and 2 power plants.

Regarding the investment project of Nhon Trach 3 and Nhon Trach 4, PV Power said the management board would continue to review the engineering-procurement-construction (EPC) bidding documents and site clearance documents of contractors. PV Power would also continue to supplement capital, negotiate gas sale and purchase contracts and power purchase agreements.

In February, PV Power plans to have an estimated power output of more than 1.46 billion kWh and expects revenue of 2.3 trillion VND.

By the end of 2020, PV Power reached 29.7 trillion VND in revenue and 2.2 trillion VND in net profit, down 16 percent and 13 percent respectively compared to 2019.

Compared to the target set for 2020, it fulfilled 84 percent of revenue target and exceeded profit target by 22 percent./.

VNA