Accordingly, BCG Energy Joint Stock Company, ticker symbol: BGE, has a paid-up charter capital of VND 7,300 billion. BCG Energy registered to trade 730 million shares with a reference price of VND 15,600 per share on the first trading day.
BCG Energy was established and operates as a joint-stock company in June 2017 with an initial registered capital of VND 230 billion according to Business Registration Certificate No. 0314445458 issued by the Department of Planning and Investment of Ho Chi Minh City. Currently, its registered capital is VND 7,300 billion, after 8 capital increases.
BCG Energy's main business is investing in renewable energy projects including: solar power, rooftop solar power, wind power, and waste-to-energy… across many provinces and cities in Vietnam.
Regarding solar power, from 2018-2020, BCG Energy implemented 4 projects: BCG Long An 1 Solar Power Plant, BCG Long An 2 Solar Power Plant, BCG Vinh Long Solar Power Plant, and the BCG Phu My 1, BCG Phu My 2 and BCG Phu My 3 Solar Power Plant Complex.
In addition, rooftop solar power systems installed in export processing zones and industrial parks have helped BGE's total power generation capacity reach nearly 600MW.
Regarding rooftop solar power, BCG Energy has operated and commercially sold electricity to Vietnam Electricity Group (EVN) with 44 projects, reaching a total capacity of 74.07 MWp, and is currently implementing an additional 23 projects (15.9 MWp). In 2022, revenue from BGE's solar and rooftop solar power segment reached VND 506.8 billion, and is expected to increase by 5.42% in 2023, equivalent to VND 534.25 billion.
In the wind power sector, BCG Energy's business activities involve investing in equipment and turbines for electricity production. Currently, BCG's wind power projects are under development and construction and are not yet operational.
In the waste-to-energy sector, the newest area BGE has entered, project companies in this sector will have two main revenue sources: revenue from waste processing and expected revenue from electricity sales.
Regarding BCG Energy's business results, revenue in 2021 reached VND 760 billion. In 2022, the company's revenue grew strongly, by 40% to VND 1,064 billion, and in 2023, revenue increased by 5.8%, reaching over VND 1,125 billion.
In the first quarter of 2024 alone, BCG Energy's revenue reached VND 320.4 billion. Of this, revenue from solar power accounted for the highest proportion of total revenue, reaching 46.6% in 2022 and 56.50% in 2023.
According to the Power Development Plan VIII with a vision to 2030, BCG Energy currently owns a portfolio of projects with a total capacity of approximately 1GW. This includes large-scale wind power projects such as: Dong Thanh 1 (80MW) and Dong Thanh 2 (120MW) wind power plants in Tra Vinh province; and Khai Long 1 (100MW) in Ca Mau province, which BGE will implement in 2024 and are expected to be operational in 2025. When these projects become operational, they will increase BCG Energy's total power generation capacity by approximately 53%.
In 2024, BCG Energy set a target of over VND 1,519 billion in net revenue and over VND 512.9 billion in after-tax profit.
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