The national power development plan for the 2021-2030 period, with a vision to 2050 (Power Plan 8) recently approved by the Prime Minister continues to prioritize the strong development of renewable energy, including wind power and solar power. Recently, many businesses investing in wind power and solar power have also reaped billions of dollars each month.
Many businesses earn billions of dong each month from solar power
Not counting the companies under the Vietnam Electricity Group (EVN) and related companies, many manufacturing and trading enterprises in different fields have also started investing in renewable energy and are recording large revenues. For example, Sao Mai Group Joint Stock Company (stock code ASM) announced its financial report for the first quarter of 2023 with revenue from solar power of VND 196 billion, an increase of nearly 30% over the same period last year. In addition to the factories that have been put into operation, ASM is also investing in a solar power project in Dak Lak, a solar power project in An Giang ... Before that, in 2022, solar power also brought this company nearly VND 609 billion, an increase of more than VND 15 billion compared to 2021. Thus, on average, each month in the past year, ASM also pocketed nearly VND 51 billion from solar power.
Or Ha Do Group Joint Stock Company (stock code HDG) announced its consolidated financial report for the first quarter of 2023, also reaching a total net revenue of nearly 956 billion VND, with contributions from hydropower, solar power and wind power accounting for more than half with more than 543 billion VND. Compared to the first quarter of 2022, HDG's revenue from the electricity sector increased by more than 65 billion VND. Previously, the company's 2022 report also showed that revenue from the electricity sector reached more than 2,115.6 billion VND, an increase of more than 65% compared to 2021 and also accounting for nearly 60% of the company's total revenue. On average, Ha Do earns more than 176 billion VND per month from the electricity production and trading sector, higher than the revenue from the traditional real estate business sector.
Similarly, Fecon Joint Stock Company (stock code FCN) announced that its electricity revenue in 2022 reached nearly VND 143 billion, double that of 2021, equivalent to nearly VND 12 billion per month. The company also identified the investment plan in renewable energy projects as one of the three main activities in addition to investing in urban - industrial park projects and transport infrastructure.
Another unit, Halcom Vietnam Joint Stock Company (stock code HID), specializes in trading construction equipment and construction supervision consulting... also reported that in fiscal year 2022 (ending on March 31, 2023), electricity sales revenue was nearly 92 billion VND, a slight decrease compared to the figure of more than 95 billion VND of the previous fiscal year. Electricity sales revenue currently accounts for more than 36% of the company's total revenue. The company is currently investing in wind power in Quang Binh, Binh Dinh and solar power in Hau Giang ...
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