CONTENTS

03 Message from the Chairman

05 Message from the President & CEO
08 Organizational chart
09 Corporate introduction
10 Power generation
20 Power transmission and distribution
26 Business performance
32 Environmental protection
34 EVN Digital Transformation
36 Electricity market
40 Corporate Restructuring and Equitization
42 International cooperation
44 Human resource development and training
45 Corporate social responsibility
46 Consolidated financial statements
47 Consolidated balance sheet
48 Power plant projects
49 EVN’s member companies
52 Geographical scheme of Vietnam power system
2 3

MESSAGE FROM THE CHAIRMAN

Vietnam Electricity has chosen the 2020 theme: system had reached 69,297 MW, which included
“Focusing on comprehensively completing the plan 17,539 MW from renewable energy sources. Though
for the 2016-2020 period” for striving to achieve and we have seen wide-scale integration of renewable
surpass the tasks and targets of EVN’s 5-year plan energy sources into the national power system, EVN
of 2016-2020 approved by the Prime Minister and has maintained stable operation and reliable power
the Committee for Management of State Capital at supply.
Enterprises.
As the pioneer in applying scientific and technical
2020 has been a challenging year for EVN with the advances to bring efficiency improvement to all
complicated evolution of the Covid-19 pandemic, ranges of production and business activities, EVN
the situation of natural disasters, storms and floods was honored to be awarded the title of Outstanding
in central provinces. Despite these difficulties, the Digital Transformation Enterprise in 2020. EVN has
Group has accomplished the dual task of epidemic selected the 2021 theme of “Digital Transformation
containment and ensuring sufficient power supply in Vietnam Electricity” to proactively seize new
for the socio-economic development of the country. opportunities, applying digital technology to all
This remarkable achievement was thanks to the production and business activities, and striving to
strong leadership of the Party, the Government, the transform the company into a digital enterprise with
Committee for the Management of State Capital at operational efficiency and sustainability.
Enterprises (CMSC), the Ministry of Industry and
Trade (MOIT) and other ministries, localities, together The year 2021 is the first of the 2021-2025 five-year
with the solidarity, great efforts and creativity of plan, EVN is committed to making efforts with high
EVN’s management team and all employees. determination to complete the objectives and tasks
in 2021 and the forthcoming period, providing a
By the end of 2020, the scale of Vietnam’s power valuable contribution to the industrialization and
system ranks 2nd in Southeast Asia and 23rd in the modernization of the country.
world. The total installed capacity of the power

Chairman

DUONG QUANG THANH

4 5

MESSAGE FROM THE PRESIDENT AND CEO

In 2020, EVN was facing many difficulties that were modelling is well suited for the processing of digital
affecting our power development investments and production and business activities at EVN. Therefore,
business activities. Since the Covid-19 pandemic has we aim at improving our operation with innovation,
been impacting our local economy and along with optimization of costs, improving customer experience
the effect of climate change, we at EVN continued to and satisfaction, and completing our transformation
forge ahead of meeting and surpassing our objective process by the end of 2025 to fully operate the
targets by completing our five-year development plan corporation under the digital enterprise mode.
of 2016-2020 and fulfilling all significant tasks that were
assigned by the Government. To achieve our annual target for the year 2021, EVN has
been concentrating on the following tasks: (i) Operating
While working toward securing sufficient electricity the national power system in a safe and reliable
supply for the country, EVN’s emphasis was to manner, meeting power demand for socio-economic
meet power demand for the overall socio-economic development. (ii) Implementing power generation and
development of Viet Nam. During this period, EVN was investing into our network infrastructure timely and
able to manage a safe and reliable power operating with the highest standard of quality; (ii) Continuing to
system that has reached a total capacity of 69,297 MW, improve customer service, enhancing the efficiency of
which includes a massive renewable energy source power production and business activities, and labor
integrated into our grid. Taking social responsibility at productivity; (iv) Continuing with our restructuring and
the front end of the COVID-19 outbreak and helping our renovation process for the power sector and in line with
customers to cope with economic difficulties, EVN has the Government’s direction.
twice taken proactive steps of reducing electricity prices
and electric bills for a total of VND 12,300 billion during While 2021 has been a challenging year for EVN that
this pandemic period. was attributed by the COVID-19 pandemic, EVN will
continue to remain steadfastly committed to upholding
Our theme for 2021 is “Digital Transformation in Vietnam the highest professional standards and driving value
Electricity”. This year’s theme has been chosen as a for our stakeholders by doing our best to ensure the
roadmap for injecting science and technology sustainability of our business development in the
application into EVN’s business model; the coming years.
integration of digital technology and management
President and CEO

TRAN DINH NHAN

6 7

BOARD OF DIRECTORS BOARD OF EXECUTIVE MANAGEMENT

Mr. DUONG QUANG THANH Mr. TRAN DINH NHAN

Chairman President and CEO

Mr. TRAN DINH NHAN Mr. MAI QUOC HOI Mr. DANG HUY CUONG Mr. NGUYEN TAI ANH Mr. NGO SON HAI
Board Member, Board Member Board Member Vice President Vice President
President and CEO Southern Investment & Technical and
Construction Power System Operation

Mr. NGUYEN DUC CUONG Mr. CAO QUANG QUYNH Mr. VO QUANG LAM Mr. NGUYEN XUAN NAM Mr. PHAM HONG PHUONG
Board Member Board Member Vice President Vice President Vice President
Power Business Finance Northern Investment &
Construction
8 9

ORGANIZATIONAL CHART

BOARD OF DIRECTORS
Internal Audit and Office of Board of Directors
Financial Supervision Dept.
Strategy Dept.

PRESIDENT AND CEO

Vice President Vice President Vice President

Vice President Vice President
Technical and Northen Investment & Southern Investment &
Power Business Finance
Power System Operation Construction Construction

Technical & Operational Organization & International Relation

Dept. Human Resource Dept. Dept.
Science - Technology & Corporate Planning
Communication Department.
Environment Dept. Dept.

Safety Management Dept. Inspection Dept. General Affairs Dept.

Financial & Accounting

Business Dept. Investment Management Dept.
Dept.

Power Market Dept. Procurement Management Dept. Capital Management Dept.

Telecommunications and Information Construction

Legal Dept.
technology Dept Management Dept.
EVN Twin tower

DEPENDENT ACCOUNTING UNITS ONE MEMBER LIMITED LIABILITY COMPANIES

CORPORATE INTRODUCTION
1. Hoa Binh Hydropower Company 1. Power Generation Corporation 1
2. Ialy Hydropower Company 2. National Power Transmission Corporation
3. Tri An Hydropower Company 3. Northern Power Corporation Vietnam Electricity (EVN) was established by the Government Corporation (EVNHCMC). EVN runs its own
4. Tuyen Quang Hydropower Company 4. Central Power Corporation of Vietnam as a State-owned company in 1994 and officially strategic and multipurpose hydropower
5. Se San Hydropower Development Company 5. Southern Power Corporation operated as a one-member limited liability company in 2010. plants and those power plants belonging
6. Son La Hydropower Company 6. Hanoi Power Corporation to 03 power generation corporations
7. Huoi Quang – Ban Chat Hydropower Company 7. Hochiminh City Power Corporation
8. Thai Binh Thermal Power Company 8. Thu Duc Thermal Power One Member Limited Liability Company Entrusted with the mission of ensuring sufficient power supply (GENCOs 1, 2, 3) with a total capacity of
9. Vinh Tan 4 Thermal Power Plant for national socio-economic growth and meeting customers’ 29,513 MW, which accounts for 42.6% of
10. Power Projects Management Board No.1 JOINT STOCK COMPANIES demands with continuously improved quality and services, the national power generation system,
11. Power Projects Management Board No.2 EVN secures power investment and development while serving and sells electricity to nearly 29 million
12. Power Projects Management Board No.3 1. Power Generation Corporation 3 - JSC
13. EVN Construction and Technology Investment Management Board 2. Power Generation Corporation 2 - JSC Vietnam Government as a macro-economic regulatory tool. customers over the country.
14. Information & Communication Technology Company of Vietnam 3. Dong Anh Electrical Equipment Corporation JSC
Electricity 4. Power Engineering Consulting No. 1 JSC EVN wholly owns the National Power Transmission Corporation EVN is dedicated to the vision of becoming
15. Electric Power Trading Company 5. Power Engineering Consulting No. 2 JSC
(EVNNPT) and the five distribution companies, namely Northern a leading power utility in the region,
16. EVN Power Service Center 6. Power Engineering Consulting No. 3 JSC
17. National Load Dispatch Center 7. Power Engineering Consulting No. 4 JSC Power Corporation (EVNNPC), Central Power Corporation powering socio-economic development
18. Electric Information Center 8. Vinh Tan 3 Energy JSC (EVNCPC), Southern Power Corporation (EVNSPC), Hanoi and being responsible to customers and
Power Corporation (EVNHANOI) and Ho Chi Minh City Power the whole community.
10 11

POWER GENERATION
Installed capacity by fuel types
2019 2020 Wind Wind
Power source 0.67% 0.75%
(MW) (%) (MW) (%)
Coal fired Solar Solar
Hydropower 20,283 36.81% 20,774 29.98% Coal fired
35.83% 8.47% 12.80%
31.10%
Coal fired 19,744 35.83% 21,554 31.10%
Rooftop solar Rooftop solar
Gas fired + oil fired 8,857 16.07% 8,858 12.78% 0.58% 11.23%
Wind 369 0.67% 518 0.75% 2019 Biomass
2020 Biomass
Solar 4,669 8.47% 8,871 12.80% 0.53% 0.53%

Rooftop solar 320 0.58% 7,785 11.23% Gas fired + Hydropower Gas fired +
Hydropower
oil fired 29.98% oil fired
Biomass 293 0.53% 365 0.53% 36.81%
16.07% 12.78%
Imported 572 1.04% 572 0.83%
Imported Imported
Total 55,107 100% 69,297 100% 1.04% 0.83%

Hoa Binh Hydropower Plant

Floating Solar Power plant

on Da Mi reservoir
12 13

Installed capacity by ownership

2019 2020
Owner
(MW) (%) (MW) (%)

EVN 11,883 21.56% 11,883 17.15%

GENCO 1 6,979 12.66% 6,979 10.07%
GENCO 2 4,421 8.02% 4,421 6.38%
GENCO 3 6,230 11.31% 6,230 8.99%
BOT and other investors 25,594 46.44% 39,784 57.41%
Installed capacity 55,107 100% 69,297 100%

EVN
21.56% 17.15%
GENCO 1

GENCO 2 10.07%
46.44%
2019 12.66%
57.41% 2020
GENCO 3 6.38%

8.02% BOT 8.99%

and other investors
11.31%
14 15

Power production and purchase

238,469
230,774
Years 2016 2017 2018 2019 2020
212,308
Total 177,234 192,914 212,308 230,774 238,469
200,000 192,914
Hydropower 64,167 87,599 84,489 66,542 73,382
177,234
Coal fired 63,974 62,613 83,845 111,180 114,765
Gas fired + oil fired 46,013 39,957 40,277 43,639 35,203
Renewable energy 364 400 935 6,100 12,060
Imported from China and Laos 2,716 2,345 2,762 3,313 3,059 100,000

Unit: million kWh

0
2016 2017 2018 2019 2020
Unit: million kWh
Hydropower Coal fired Gas fired + oil fired
Renewable energy Imported from China and Laos

1% 1%
3% Hydropower 5%

29% Coal fired

19% 15% 31%
Gas fired + oil fired

2019 Renewable energy 2020

Imported from China
and Laos
48% 48%
16 17

Power production
Power production by EVN and GENCOs in 2019 Power production by EVN and GENCOs in 2020
50,005
41,957 50,000
40,000
37,142
34,240
40,000
36,345
30,000
32,889

30,000
20,000 18,151

20,000 17,815
10,000

10,000
0
EVN GENCO 1 GENCO 2 GENCO 3
Unit: million kWh
0
EVN GENCO 1 GENCO 2 GENCO 3
Unit: million kWh
18 19

1,772

Power export

1,248
1,164
1,077 1.086
47

35

30 29 29

2016 2017 2018 2019 2020

Export to Cambodia Export to Laos Unit: million kWh

Power import
2,219

1,940
1,722
1,489
1,404
1,321

1,227 1,227

1,119
1,094

2016 2017 2018 2019 2020

Import from China Import from Laos Unit: million kWh

20 21

POWER TRANSMISSION AND DISTRIBUTION

Connecting power to Tien Hai

THE 500KV - 220KV - 110KV NETWORKS
island commune
Items/ Years 2019 2020
500-220kV grid Unit Quantity Unit Quantity
Lines km 25,827 km 26,497
Transformers MVA 96,400 MVA 104,525
110kV grid
Lines km 20,195 km 21,559
Transformers MVA 62,522 MVA 66,260
Total
Lines km 46,022 km 48,056
Transformers MVA 158,922 MVA 170,785

National Power Transmission

Corporation (EVNNPT)
The national power transmission system
2019 2020
Items/Years
Unit Quantity Unit Quantity
500kV lines km 8,217 km 8,285
220kV lines km 17,478 km 18,076
500kV transformers MVA 34,650 MVA 39,900
220kV transformers MVA 58,750 MVA 61,625
110kV transformers MVA 3,846 MVA 4,037

Power Transmission system expansion plan

Item Unit 2016- 2021- 2026-
2020 2025 2030
500kV lines km 2,746 3,592 3,714
220kV lines km 7,488 4,076 3,435
500kV substations MVA 26,700 26,400 23,550
220kV substations MVA 34,966 33,888 32,750
22 23

Northern Power Corporation (EVNNPC)

2019 2020
Items/Years
Unit Quantity Unit Quantity
110kV lines km 8,836 km 9,719
Medium and low voltage lines km 226,906 km 231,425
110kV transformers MVA 20,401 MVA 22,173
Medium voltage transfomers MVA 15,595 MVA 17,425

Hanoi Power Corporation (EVNHANOI)

Items/Years 2019 2020

Unit Quantity Unit Quantity

220kV lines km 9 km 9
110kV lines km 891 km 926

Medium and low voltage lines km 43,673 km 43,741

220kV transformers MVA 500 MVA 500
110kV transformers MVA 6,348 MVA 6,686
Medium voltage transfomers MVA 7,891 MVA 8,466

Central Power Corporation (EVNCPC)

2019 2020
Items/Years
Unit Quantity Unit Quantity
110kV lines km 3,702 km 3,882
Medium and low voltage lines km 70,361 km 75,285
110kV transformers MVA 6,695 MVA 7,205
Medium voltage transfomers MVA 6,205 MVA 6,509
24 25

Southern Power Corporation (EVNSPC)

2019 2020
Items/Years
Unit Quantity Unit Quantity
110kV lines km 6,039 km 6,278
Medium and low voltage lines km 146,884 km 151,813
110kV transformers MVA 18,640 MVA 19,401
Medium voltage transfomers MVA 8,450 MVA 9,264

Ho Chi Minh City Power Corporation (EVNHCMC)

Items/Years 2019 2020

Unit Quantity Unit Quantity

220kV lines km 123 km 127
110kV lines km 727 km 754
Medium and low voltage lines km 19,925 km 20,673
220kV transformers MVA 2,500 MVA 2,500
110kV transformers MVA 6,592 MVA 6,758
Medium voltage transfomers MVA 7,070 MVA 8,501
26 27

BUSINESS PERFORMANCE

Despite many difficulties during 2020, EVN recorded a rise of

2% in total revenue. The total volume of power generation and
purchase stood at 238,469 million kWh in 2020, an upward of
3.33% from the preceding year. Power sales reached 216,950
million kWh, an increase of 3.42% over the year 2019. The total
amount of power transmission was 203,700 kWh, a growth
of 1.95% from the previous year. EVN connected 100% of
communes, more than 99% of rural households, and 11/12
districts of islands with electricity access. The reliability of
the power supply was enhanced as SAIDI significantly fell by
66.76% from the previous year and the power loss rate declined
to 6.42%.

As for 2020, EVN attained the DSCR of 0.25 and the SFR of
0.33, making profitability in the power business. The average
electricity tariff stayed at VND 1,820/kWh (or about US cent
7.9/kWh). Sharing difficulties of the economy, EVN has made
discounts to certain categories of customers to ease the
pandemic’s economic impact, reducing electricity bills by a total
amount of VND 12,263.5 billion.

Since 2019, EVN has provided electricity service level 4,

integrating all electricity services to the National Public Service
Portal. According to the World Bank’s Doing Business report,
the access-to-electricity index of Vietnam ranked 27th out of 190
nations and economies and 4th in ASEAN in 2019.

EVN’s engineers on duty at

the control room of Duyen Hai 1 Thermal Power Plant
28 29

Power Sales Power sales growth

11.21%
10.14%
3% Agriculture, Forestry 3% 9.30% 9.05%
4% and Aquaculture 4%

Industry and
54% Construction 54%

33%
2019 Commercial &
34%
2020
Hotels, Banks
Administration &
Residential 3.42%
6% Others 5%

2016 2017 2018 2019 2020

SAIFI 10.6
(times per
customer) 7.04 6.57
4.97
3.11

2016 2017 2018 2019 2020

SAIDI 1651
(minutes per
customer) 1028.78 1071.42
724.28
356.12
2016 2017 2018 2019 2020

MAIFI 1.51
(times per
customer)
0.94 0.89
0.78 0.77

2016 2017 2018 2019 2020

Power loss 7.57 7.24 7.04

rate (%) 6.49 6.42

2016 2017 2018 2019 2020

30 31

Rural electrification

Years 2016 2017 2018 2019 2020

Communes 99.97% 99.98% 100% 100% 100%
Rural households 98.69% 98.83% 99.05% 99.25% 99.30%

100%

98%

96%

94%
201 201 201 201 201 201 201 201 201 201 202
0 1 2 3 4 5 6 7 8 9 0

Communes

Rural households

EVN’s workers repaired and renovated the power grid in Central Highlands
32 33

ENVIRONMENTAL PROTECTION

Ensuring the environmental stewardship of the company, as well as to EVN and state management
EVN is committed to reducing environmental footprint agencies. EVN promoted the use of
throughout the process of investment and construction, ash, conforming to technical standards
production and sales; strictly complying with the Law of and regulations for suitable building
Environment Protection and related regulations. Our power materials and ground filling. All thermal
plants are fully equipped with environmental treatment power plants have signed contracts
systems for wastewater and gas emissions. Environmental with partners for ash, slag, and gypsum
parameters are monitored and supervised with transparency. treatment with the consumption rate of
Measurement and monitoring results are reported publicly to ash and slag reaching 80% of generated
the local Department of Natural Resources and Environment volume in 2020.

EVN’s leaders and employees planted trees at the premises

of Lai Chau Hydropower Plant
34 35

EVN DIGITAL TRANSFORMATION

EVN received the Excellent Digital Transformation Award 2020

EVN has approved the Digital efficiency, service quality, labor productivity and governance
Transformation plan for the whole capacity.
Corporation to be accomplished by the
year 2020. A transformation that involves EVN actively promotes the application of digital technologies in
technology, resources, organization all activities along the entire industrial value chain from power
and culture is a prerequisite for EVN generation, transmission, distribution, operation of power
to be more agile and resilient in a fast system and electricity market, to customer services. The year
- changing world. With the Group’s 2021 is a momentum year for EVN to make a breakthrough
operational theme of 2021 being “Digital in digital transformation for the following years. EVN wishes
Transformation in Vietnam Electricity”, to build up and lead this digital ecosystem, for the sake of
EVN’s Digital Transformation Master modernization and sustainable development of Vietnam’s EVN commissions EVNSOLAR platform to promote rooftop solar power development in Vietnam
Plan targeted at improving business energy industry.
36 37

ELECTRICITY MARKET

Since early 2019, the VWEM (wholesale EVN will conduct price marketization to
electricity market) has officially encourage investment in the electricity
operated. By the end of 2020, 100 industry and follow the state-regulated
power plants directly participated in market mechanism. According to the
the power market with a total installed roadmap for power market development,
capacity of 27,640 MW, accounting VREM (retail electricity market) is
for 40% of the national power system. expected to be in operation in 2023.

VWEM
Sellers Buyers Non-Eligible
Customers
Eligible
EVN PV Customers
GENCO 1 POWER Renewable
New PCs Generators
Retailers Retailers
EVN EVN
GENCO 2 GENCO 3

Service PCs
TKV EVN Providers Distribution
Power (SMHP)
SMO
Others
>=30MW MDMSP NPT

LEGEND:
PC = Power Corporation
SMO = System & Market Operator
MDMSP = Metering Data Management Service Provider
NPT = National Power Transmission

Workers on duty to operate at Vinh Tan 4 Thermal Power Plant

38 39

Ceiling prices of the market

over the recent years

Ceiling price
Years Date
(VND/kWh)
2012 01/07/2012 846.3
01/01/2013 846.3
01/02/2013 868
2013
01/05/2013 900
01/06/2013 1015
2014 01/01/2014 1168
2015 01/01/2015 1280
2016 01/01/2016 1171
2017 01/01/2017 1266
2018 01/01/2018 1280
2019 01/01/2019 1319
2020 01/01/2020 1342.3

Ceiling price (VND/kWh) 1342.3

1319
1280 1266 1280
1168 1171

1015
900
846.3 846.3 868

1/7 1/1 1/2 1/5 1/6 1/1 1/1 1/1 1/1 1/1 1/1 1/1
2012 2013 2014 2015 2016 2017 2018 2019 2020
40 41

CORPORATE RESTRUCTURING
AND EQUITIZATION

Announcement of enterprise value for equitization of GENCO 2

EVN secures restructuring and equitization process in line the divestiture process in Thuan Binh
with the Government’s approval. In execution of the corporate Wind Power Joint Stock Company and
restructuring plan, EVN has completed the study of converting Electricity Finance Joint Stock Company
the National Load Dispatch Center into a one-member limited (EVNFinance) in 2020. Implementing
liability company with independent accounting. EVN has EVN’s equitization roadmap, Power
planned to convert the new Thai Binh Thermal Power Company Engineering Consulting Joint Stock
and Vinh Tan 4 Thermal Power Plant into one-member limited Company 3 (PECC3), Power Engineering
liability companies for the equitization process. Following Consulting Joint Stock Company 4
Power Generation Corporation 3 (GENCO3), Power Generation (PECC4), Dong Anh Electrical Equipment
Corporation 2 (GENCO2) became a Joint Stock Company (JSC) Corporation (EEMC) and Power
with the IPO held in early 2021; Power Generation Corporation Generation Corporation 3 (GENCO3) are
1 (GENCO1) is scheduled to be equitized in the period 2023- scheduled to be divested in the period
2025. In pursuit of the divestiture program, EVN has completed 2021-2025.
42 43

INTERNATIONAL COOPERATION

EVN and USAID signed the Memorandum of Understanding for technical assistance to promote rooftop solar PV
development in Vietnam

In the face of the tumultuous global situation, EVN has been MOIT, has proactively organised many
able to sustain and strengthen international cooperation and cooperation programs, most notably
solid relations with foreign agencies, regional and international ASEAN Action Plan on Energy Cooperation
organizations. The Group has maintained trustful partnerships Phase II (APAEC 2021-2025), ASEAN
with international financial institutions to arrange capital sources Power Grid Connection Plan Phase 3
for power investment projects, conducting procedures for new (AIMS III), Multilateral Power Trading
investment projects using ODA, preferential loans and none and ASEAN Power Market Program;
sovereign loans. sharing information on the response
to COVID-19 of the power industry in
Since Vietnam taking over the role of ASEAN Chairman in 2020, different countries and running programs
EVN has effectively executed cooperation and integrational supporting customers affected by the
activities, participating in important conferences such as Heads of pandemic. In regional cooperation, EVN
ASEAN Power Utilities/Authorities (HAPUA) forum, Association of has been making efforts to implement safe
the Electricity Supply Industry of East Asia and the Western Pacific integrational practices, actively involved in
(AESIEAP), Greater Mekong Subregion (GMS), The ASEAN international activities and forums to share
Ministers on Energy Meeting (AMEM), ASEAN Energy Business and get access to the latest knowledge EVN and the British Embassy in Vietnam signed the Letter of Intent
EVN and AFD signing financial termsheet
Forum (AEBF) and General Planning Managers of Southeast and experiences, establishing new for Hoa Binh Extended Hydropower Project for applying Building information model for the Tri An Hydropower
and Northeast Asian Electric Utilities (GPM). EVN, joining with opportunities in business. Plant Expansion Project
44 45

HUMAN RESOURCE DEVELOPMENT

AND TRAINING CORPORATE SOCIAL RESPONSIBILITY

EVN’ objective of human resource development and the Capacity Building Project for As a responsible coporation, EVN and member companies actively contribute to and support social
training is to grow employee empowerment using Power Project Management Boards security projects and activities.
modern governance with properly planned monitoring (PMBs) and the Expert Development
and evaluation, aiming at productivity improvement and Project focusing on those experts from
sustainable development of the corporation. EVN’s main business areas, aiming
to be well-recognized at international
Strengthening employees’ learning culture and digital associations by 2025.
mindset is the centrepiece of EVN’s reform measures
amid a global pandemic. The E-learning system that has EVN is transforming with a workforce
been implemented since 2019 allows a wide range of that is highly responsive to changes in
education and training options to be more accessible to the digital environment, commitment
employees at all levels in the organization. Furthermore, to making ongoing improvements and
various projects are designed to standardize and improve taking on new challenges to improve
the capacity of EVN’s managers and specialists to reach productivity and efficiency in business,
regional and global levels. EVN keeps on accelerating the significantly contributing to the social-
implementation of human development projects including economic development in Vietnam.

EVN donates VND 3 billion to support the Vietnam Electricity and Ialy Hydropower Company
investment in building kindergarten rooms donate houses of gratitude to the poor in Kon Tum
in Thanh Hoa Province on December 2020 province in December, 2020

EVN held training course on reliability centered maintenance (RCM) for thermal power plants EVN supports 300 million VND for poor patients at Da Nang Oncology Hospital in April, 2021
46 47

CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED BALANCE SHEET

Unit: million VND Unit: million VND

2019 2020 ASSETS 2019 2020

1.Gross revenue from goods sold and services rendered 394,890,318 403,283,407 A. Current assets 163,524,480 195,825,938

2. Deductions 331 758 I. Cash and cash equivalents 53,601,031 55,236,910

3. Net revenue from goods sold and services rendered 394,889,987 403,282,648 II. Short-term financial investments 61,538,355 87,232,171

4. Cost of sales 343,852,003 348,724,291 III. Short-term receivables 18,885,904 18,713,920

5. Gross profit from goods sold and services rendered 51,037,984 54,558,357 IV. Inventories 23,213,272 27,308,672

6. Financial income 3,973,036 5,198,527 V. Other short-term assets 6,285,918 7,334,265

7. Financial expenses 22,495,885 22,917,579 B. Non-current assets 557,935,980 533,625,830

8. Share of net profit from associates 498,392 430,088 I. Long-term receivables 576,882 282,147

9. Selling expenses 7,134,349 8,603,466 II. Fixed assets 497,754,976 491,076,476

10. General and administration expenses 13,635,568 13,589,081 III. Investment properties 15,686 15,546

11. Operating profit 12,243,610 15,076,846 III. Long-term assets in progress 43,742,913 28,863,128

12. Other income 644,962 601,045 IV. Long-term financial investments 5,781,364 5,994,120

13. Other expenses 388,589 361,947 V. Other long-term assets 10,064,160 7,394,412

14. Profit from other activities 256,374 239,098 Total assets 721,460,460 729,451,768

15. Accounting profit before tax 12,499,984 15,315,944 EQUITY AND LIABILITIES

16. Current corporate income tax expense 2,690,249 782,784 A. Liabilities 495,046,471 489,256,338

17. Deferred corporate tax (income) 89,701 52,857 I. Current liabilities 130,482,507 145,735,974

18. Net profit after corporate income tax 9,720,033 14,480,303 II. Long-term liabilities 364,563,965 343,520,364

18.1. Equity holders of the Holding Company 7,890,068 12,467,272 B. Equity 226,413,989 240,195,430

18.2. Non-controlling interests 1,829,965 2,013,031 I. Owner’s equity 226,448,999 240,235,919

II. Other resources and funds (35,010) (40,490)

Total equity and liabilities 721,460,460 729,451,768

48 49

POWER PLANT PROJECTS EVN’S MEMBER COMPANIES

No. Company Address Phone Fax

Hoa Binh Hydropower No. 428 Hoa Binh road, Tan Thinh ward,
1 0218 3852043 0218 3854155
Company Hoa Binh city, Hoa Binh province
Ialy Hydropower No. 727 Pham Van Dong street, Yen
2 0269 2222008 0269 3866470
Company The, Pleiku city, Gia Lai province
Tri An Hydropower No. 767, Vinh An town, Vinh Cuu
3 0251 2217939 0251 3861257
Company district, Dong Nai province
Tuyen Quang No. 403 Truong Chinh street, Tuyen
4 0207 3980929 0207 3980919
Hydropower Company Quang city, Tuyen Quang province
Se San Hydropower No. 114 Le Duan road, Phu Dong,
5 0269 3514118 0269 2222369
Development Company Pleiku city, Gia Lai province
Son La Hydropower 56 Lo Van Gia street, Chieng Le district,
6 0212 2240030 0212 3751106
Company Son La city, Son La province
Na Khiet village, Muong Cang
Huoi Quang – Ban Chat
7 commune, Than Uyen town, Lai Chau 0213 2489565 0213 3783579
Hydropower Company
province
Thai Binh Thermal Hamlet 3 , Thai Do Commune, Thai
8 0227 3720988 0227 3720989
Power Company Thuy district, Thai Binh province
Vinh Tan 4 Thermal Vinh Tan commune, Tuy Phong district,
9 0252 3666222 0252 3666111
Power Plant Binh Thuan province
Electric Power Trading 12th floor, Tower A, EVN Building, No.
10 024 22218219 024 22218214
Company 11 Cua Bac street, Hanoi
Capacity Operation National Load Dispatch 11th floor, Tower A, EVN Building, No.
No. Project 11 024 39276178 024 39276181
MW year Centre 11 Cua Bac street, Hanoi
EVN Power Service 5th floor, Tower B, EVN Building, No. 11
1 Phuoc Thai 2 SPP 150 MWp 2022 12 024 66941676
Center Cua Bac street, Hanoi
2 Phuoc Thai 3 SPP 50 MWp 2022 Power Project
6th floor, Tower B, EVN Building, No. 11
13 Management Board 024 22148183 02435541371
3 Hoa Binh HPP extension 2x240 2024 Cua Bac street, Hanoi
No. 1

4 Ialy HPP extension 2x180 2024 Power Project

8th floor, Tower B, EVN Building, No. 11
14 Management Board 024 66941001 024 66941002
Cua Bac street, Hanoi
5 Quang Trach I TPP 2x600 2025 No. 2

6 Tri An HPP extension 200 2025 Power Project

No. 25 Thach Thi Thanh Street, Tan
15 Management Board 028 22100423 028 38206776
Dinh, District 1, Ho Chi Minh City
7 O Mon IV TPP 1050 2025 No. 3
EVN Construction and
8 O Mon III TPP 1050 2026 9th floor, Tower B, EVN Building, No. 11
16 Technology Investment 024 66946655
Cua Bac street, Hanoi
9 Bac Ai PSHP 4x300 2026 - 2028 Management Board
Electric Information 15th floor, Tower A, EVN Building, No.
10 Quang Trach II TPP 2x600 2027 - 2028 17 024 66946700 024 37725192
Centre 11 Cua Bac street, Hanoi
11 Dung Quat I TPP 750 2028 Information and
16th floor, Tower A, EVN Building, No.
18 Communications 024 22225210 024 22225211
12 Dung Quat III TPP 750 2029 11 Cua Bac street, Hanoi
Technology Company
50 51

ONE MEMBER LIMITED LIABILITY COMPANIES JOINT STOCK COMPANIES

No. Company Address Phone Fax No. Company Address Phone Fax
16th, 17th, 18th floor, Thai Building, No. 60 - 66 Nguyen Co Thach street,
Power Generation Power Generation Joint
1 Block A, lot E2, No. 22 Duong Dinh 024 66509518 024 66941345 1 Sao La urban area, An Lơi Dong 028 36367449 028 36367450
Corporation No. 1 Stock Corporation 3
Nghe street, Cau Giay district, Hanoi ward, district 2, Ho Chi Minh city
Thu Duc Thermal Power Km No. 09, Hanoi highway, Truong Power Generation Joint No. 1 Le Hong Phong street, Binh
2 029 22461507 029 22227446
2 One Member Limited Tho ward, Thu Duc district, Ho Chi 028 22158280 028 38966958 Stock Corporation 2 Thuy ward, Can Tho city
Liability Company Minh city
Dong Anh Electrical
National Power Equipment No. 189 Lam Tien street, Dong Anh
No. 18 Tran Nguyen Han street, Hoan 3 024 38833779 024 38833113
3 Transmission 024 22226666 024 22204455 Manufacturing Joint town, Hanoi
Kiem district, Hanoi
Corporation Stock Corporation
Northern Power 28th floor, Tower B, EVN Building, Power Engineering
4 024 22100706 024 38244033 Km 9 + 200, Nguyen Trai road,
Corporation No. 11 Cua Bac street, Hanoi 4 Consulting Joint Stock 024 38544270 024 38541208
Thanh Xuan district, Hanoi
Company 1
Central Power 78A Duy Tan street, Hai Chau district,
5 0236 2221028 0236 3625071
Corporation Da Nang city Power Engineering
No. 32 Ngo Thoi Nham street, ward
5 Consulting Joint Stock 028 22216468 028 22210408
Southern Power No. 72 Hai Ba Trung street, district 1, 7, district 3, Ho Chi Minh city
6 028 22201188 028 22201166 Company 2
Corporation Ho Chi Minh city
Power Engineering
Ha Noi Power No. 69 Dinh Tien Hoang street, Hoan No. 32 Ngo Thoi Nham street, ward
7 024 22200898 024 22200899 6 Consulting Joint Stock 028 22211169 028 22211169
Corporation Kiem district, Hanoi 7, district 3, Ho Chi Minh city
Company 3
Ho Chi Minh City Power No. 35 Ton Duc Thang, Ben Nghe 028 028 Power Engineering
8 No. 11 Hoang Hoa Tham street, Nha
Corporation ward, district 1, Ho Chi Minh city 22201177/88/99 22201155/66 7 Consulting Joint Stock 0258 3563999 0258 3563888
Trang city, Khanh Hoa province
Company 4

AFFILIATES
No. Company Address Phone Fax
Room No. 503, 5th floor, Capital
Vinh Tan 3 Power Joint
1 Tower, 109 Tran Hung Dao street, 024 39748320 024 39748321
Stock Company
Hoan Kiem district, Hanoi
Lac Tri hamlet, Phu Lac commune,
Thuan Binh Wind Power
2 Tuy Phong district, Binh Thuan 062 3822024 062 3823024
Joint Stock Company
province
EVN Finance Joint Floor 14 – 16, Tower B, EVN Building,
3 024 22229999 024 22221999
Stock Company No. 11 Cua Bac street, Hanoi
52

GEOGRAPHICAL
SCHEME
OF VIETNAM
POWER SYSTEM