PV Power Records Explosive Growth in First Half of 2026
Power Corporation of Vietnam (PV Power), a subsidiary of Vietnam Oil and Gas Group (Petrovietnam), has announced remarkable production and business results for the first half of 2026, with many indicators exceeding plan targets, particularly pre-tax consolidated profit reaching an estimated 5,002 billion VND, nearly 3.9 times higher than the same period last year.
This robust growth establishes a solid foundation for PV Power to complete and surpass the goals set for the entire year 2026, reinforcing the company's position in Vietnam's energy sector.
Outstanding Business Performance
According to the latest report, PV Power has achieved notable accomplishments in the first half of 2026. Specifically:
- Consolidated pre-tax profit reached 5,002 billion VND, an increase of nearly 3.9 times compared to the same period in 2025
- Net revenue amounted to approximately 25,100 billion VND, an 85% increase year-on-year
- Electricity production reached 10.2 billion kWh, exceeding the plan by 12%
- Construction investment in solar and wind power projects exceeded planned progress
Comparison of First Half 2026 Results with Same Period 2025
| Indicator | 1H/2026 | 1H/2025 | Growth (%) |
|---|---|---|---|
| Pre-tax profit (billion VND) | 5,002 | 1,283 | 289.8% |
| Net revenue (billion VND) | 25,100 | 13,568 | 85.0% |
| Electricity production (billion kWh) | 10.2 | 9.1 | 12.1% |
Factors Driving Growth
The impressive growth of PV Power in the first half of 2026 stems from several positive factors:
1. Efficient Electricity Production Operations
PV Power's power plants have operated stably with high efficiency. Particularly, coal-fired power plants have optimized technology, reducing fuel costs and increasing power generation efficiency.
2. Accelerated Renewable Energy Development
PV Power has focused on developing solar and wind power projects with a total capacity of 1,200MW becoming operational in the first half of the year, contributing to increased production and revenue.
3. Production Cost Optimization
The company has implemented various effective cost management solutions, from negotiating input raw material prices to applying automation technology in operations.
4. Stable Electricity Market
Demand for electricity domestically and for export to neighboring countries continues to increase steadily, creating favorable conditions for PV Power's production and business activities.
Future Development Directions
Based on the first half results, PV Power has set goals and development directions for the second half of 2026:
- Complete and exceed the annual profit plan, targeting 10,000 billion VND
- Accelerate the implementation of offshore wind power projects with a total capacity of 3,000MW
- Invest in energy storage technology to optimize the power system
- Expand electricity export markets to regional countries
Leadership Feedback
Mr. Trần Đình Nguyên - Chairman of the Board of Directors of PV Power shared: "The results of the first half of 2026 are clear evidence of PV Power's sustainable development strategy. We will continue to focus on improving production and business efficiency, accelerate digital transformation, and develop renewable energy to contribute to national energy security."
According to Mr. Nguyễn Văn Hùng - General Director of PV Power: "We are confident to complete and exceed the goals set for the entire year 2026, while also preparing long-term plans for PV Power to become one of the leading energy enterprises in the region."
Conclusion
The success in the first half of 2026 is not only a significant step forward for PV Power but also contributes to the development of Vietnam's energy industry. With clear direction and breakthrough solutions, PV Power is on its way to becoming a pioneering energy enterprise, meeting the increasingly high market demands in the context of global energy transition.