Vietnam Electricity

Name

Vietnam Electricity

Legal name

Tập đoàn Điện lực Việt Nam

Website

https://evn.com.vn

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Others

Revenue model

1. Electricity Sales: EVN generates revenue primarily from selling electricity across all customer segments - residential (91.45% of customers in HCMC), commercial, industrial, and agricultural. Revenue comes from regulated retail electricity prices determined by the Ministry of Industry and Trade, with periodic adjustments based on cost pass-through mechanisms.
2. Transmission Services: EVN operates the national transmission grid (including 500kV lines) and charges transmission fees for access to the grid by third-party generators. This is part of EVN's core regulated utility operations.
3. Electricity Exports: Vietnam exports electricity to Cambodia under bilateral agreements. Cambodia's National Assembly is reviewing legislation to guarantee electricity payments to Vietnam Electricity for imports from April 2026 to April 2030, replacing an expired agreement.
4. Electricity Imports: EVN increases electricity imports while operating domestic power plants at full capacity during periods of high demand, such as heatwaves driving peak demand to 58.46 GW.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels5 records

Core offering

Vietnam Electricity (EVN) is Vietnam's state-owned single-member limited liability company that operates the country's vertically integrated power system, covering electricity generation through three generation subsidiaries (EVNGENCO 1, 2, 3), high-voltage transmission via the National Power Transmission Corporation (EVNNPT), and distribution/retail through five regional power corporations (EVNNPC, EVNCPC, EVNSPC, EVNHANOI, EVNHCMC). The company sells electricity to residential, commercial, industrial, and agricultural customers under government-regulated retail tariffs and also manages power purchase agreements with independent renewable energy producers.

Product overview

Vietnam Electricity (EVN) operates as a state-owned single-member limited liability company under Vietnam's Ministry of Industry and Trade, providing vertically integrated electricity services across generation, transmission, and distribution. The core portfolio includes three power generation corporations (EVNGENCO 1, 2, 3) and five regional distribution companies (EVNNPC, EVNCPC, EVNSPC, EVNHANOI, EVNHCMC) serving all 63 provinces. EVN offers customer-facing digital services through the EVN CSKH mobile application (reaching 1 million users), online bill payment systems with 21 banking partners, and customer service hotlines. Power generation assets include conventional thermal plants (coal and LNG), hydropower facilities, and renewable energy projects. Grid infrastructure services encompass transmission via EVNNPT, battery energy storage deployment (targeting 10,000-16,300 MW by 2030), and the Bac Ai pumped-storage hydropower plant (1,200 MW, Southeast Asia's largest). The company manages power purchase agreements for solar and wind projects under feed-in tariffs and direct PPA frameworks.

Differentiator

Problem solved

Functional benefit

Products and services

• Electricity Generation, Transmission, and Distribution Vertically integrated electricity service covering power generation through subsidiaries (EVNGENCO 1, 2, 3), high-voltage transmission via EVNNPT, and distribution/retail via five regional power corporations across all of Vietnam.
• EVN CSKH Mobile Application Mobile application for electricity customers to manage accounts, pay bills, view usage, request services, and receive outage notifications across Vietnam.
• Customer Service Centers Regional customer service centers handling new connections, billing inquiries, complaints, and service requests with hotlines for Northern (19006769), Central (19001909), Southern (19001006), Hanoi (19001288), and Ho Chi Minh City (1900545454) regions.
• Online Electricity Bill Payment Non-cash electricity bill payment services through Internet Banking, Mobile Banking, SMS Banking, auto-debit, e-wallets, bank cards, and QR codes via 21 partner banks and 7 payment intermediaries, achieving 100% non-cash payment ratio across EVNHCMC service area.
• Demand Response (DR) Programs Voluntary demand response and load shifting programs enabling participating customers to reduce or shift electricity usage during peak demand periods, achieving load shifting potential of 2,546.92 MW.
• Bac Ai Pumped-Storage Hydropower Plant 1,200 MW pumped-storage hydropower plant under construction in Khanh Hoa province, the largest such facility in Vietnam and Southeast Asia, financed with €152 million in loans from European development finance institutions.
• LNG Power Plants LNG-fired power plants including Vung Ang II (1,300 MW operational) and Quang Trach II (1,500 MW, commercial operation 2028-2029) utilizing combined-cycle gas turbine technology.
• Battery Energy Storage Systems (BESS) Battery energy storage system deployment across the national power network with target of 10,000 to 16,300 MW of energy storage capacity by 2030 under revised PDP VIII.
• Rooftop Solar Systems Integration Rooftop solar interconnection and net metering services supporting self-production and self-consumption systems, with approximately 5,000 MWp of rooftop solar installed in the EVNSPC region.
• Power Purchase Agreement (PPA) Management Management of power purchase agreements with renewable energy developers, including solar and wind projects, under feed-in tariff mechanisms and direct power purchase agreements (DPPA) for industrial parks and large consumers.
• Electricity Consumption Estimator Online calculator tool available on the EVN website for customers to estimate electricity usage and costs before purchase or contract.

Quantifiable outcome

• Achieved 100% of demand response program targets with 19,073 participating customers and 2,546.92 MW load shifting potential
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and major.

• GE VernovacoreTechnology or Integration · 23 June 2026GE Vernova is supplying two 9HA.02 gas turbines and two H78 generators for EVN's Quang Trach II LNG Power Plant. The combined-cycle facility will generate over 1.6 gigawatts of electricity by 2030. The plant is being developed by an EPC consortium including Power Construction Corporation of China and LILAMA Corporation in Quang Tri Province's Hon La Economic Zone, using imported LNG.
• Gulf Energy Development (Thailand)majorStrategic or Co-development Partner · 19 June 2026Gulf Energy held discussions with EVN in Hanoi to expand cooperation in renewable energy and LNG projects. The company operates two solar plants with TTC Group in Tay Ninh (118.8 MWp, $115M+), three nearshore wind farms in Vinh Long (128 MW), and is planning the 310 MW Binh Dai offshore wind project in Ben Tre province. CEO reaffirmed long-term commitment during Vietnamese President To Lam's Thailand visit.
• Sumitomo CorporationcoreStrategic or Co-development Partner · 11 May 2026Sumitomo Corporation acquired 49% stake in Mekong Electric Power Engineering and Development JSC, owner of Dak Di 1 and 2 run-of-river hydropower projects (48 MW capacity) in Da Nang. This is Sumitomo's first hydropower investment in Vietnam under a 20-year PPA with EVN. The company plans to use this as a starting point for further hydropower acquisitions leveraging Direct PPA systems.
• Hyosung Heavy IndustriesmajorStrategic or Co-development Partner · 24 April 2026Hyosung Heavy Industries signed MOUs with EVN and Vietnam's Finance Ministry for AI-based power asset management systems, grid stabilization technology, and $50 million investment to build Vietnam's first high-voltage motor manufacturing plant in Dong Nai province targeting $100 million in annual sales. This supports Vietnam's goal to expand power capacity to 221 GW by 2030.
• Korea Electric Power Corporation (KEPCO)majorStrategic or Co-development Partner · 24 April 2026KEPCO signed MOUs with EVN covering power infrastructure cooperation including HVDC transmission, grid development, and battery energy storage systems (BESS). Additionally, KEPCO signed another MOU with Petrovietnam for nuclear power development cooperation, building on a previous MOU from August 2025.
• Ministry of Agriculture and Environment (for Offshore Wind)majorOthers · 24 January 2026EVN received allocation of 24,000 hectares off the Long Chau archipelago and Bach Long Vi Island for Bac Bo 1.3 and 1.4 offshore wind projects from the Ministry of Agriculture and Environment. Surveys will run for 36 months. Vietnam currently has no operational offshore wind projects though PDP VIII targets 6,000 MW by 2030.
• Impact Electrons Siam (Monsoon Wind Project)coreChannel Partner/ Reseller/ Distributor · 16 January 2026Monsoon Wind Power Project, Asia's first cross-border wind farm in Laos (600 MW, 133 turbines from Envision Energy), sells electricity to EVN at US$0.0695/kWh under a 25-year PPA. US$950 million project spanning 68,000 hectares powering over 1 million households. Company planning US$1.4 billion expansion to add 1,000 MW by 2030.
• Pacifico Energy VietnamcoreChannel Partner/ Reseller/ Distributor · 9 January 2026Pacifico Energy achieved commercial operations at its 30 MW Sunpro Wind Farm in Vinh Long Province on December 19, 2025. The project was financed with VND 750 billion ($28.5 million) in senior debt from VietinBank and is backed by a 20-year feed-in tariff with EVN. Powers approximately 27,000 households.
• Envision EnergycoreTechnology or IntegrationEnvision Energy supplied 133 turbines for the Monsoon Wind Power Project (600 MW), Asia's first cross-border wind farm selling electricity to EVN under a 25-year PPA. The US$950 million project spans 68,000 hectares in Laos.

Scale indicators13 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• PT PLN (Persero): Indonesian state-owned electricity utility with vertically integrated generation, transmission, and distribution, serving 90M+ customers. Directly comparable as a Southeast Asian state-owned utility executing national electrification and renewable transition.
• Electricity Generating Authority of Thailand (EGAT): Thai state-owned utility operating generation, transmission, and bulk electricity sales. Comparable as a peer state-owned utility in Southeast Asia with cross-border electricity trade and similar renewable transition mandate.
• Tenaga Nasional Berhad (TNB): Malaysian state-owned vertically integrated utility with national generation, transmission, and distribution franchise. Comparable as a regional state-owned utility in an adjacent Southeast Asian economy with similar regulatory and capital structure dynamics.

Broad incumbents

• Tokyo Electric Power Company (TEPCO): Japanese vertically integrated utility with large generation fleet and national transmission/distribution. Comparable as a state-influenced utility navigating peak demand, renewable transition, and post-disaster grid rebuilding.
• National Grid plc: UK-listed utility operating electricity and gas transmission networks with US electricity operations. Comparable as a transmission-focused utility investing in grid modernization, BESS, and interconnection of renewables.
• State Grid Corporation of China: World's largest utility operating China's national transmission grid. Comparable as a state-owned transmission-dominated utility executing ultra-high-voltage grid expansion and renewable integration at massive scale.
• Électricité de France (EDF): French state-owned utility with vertically integrated generation (nuclear, hydro, renewables), transmission, and distribution. Comparable as a state-owned utility executing a low-carbon transition including pumped-storage hydro and BESS deployment.
• Korea Electric Power Corporation (KEPCO): Korean state-owned vertically integrated utility with global operations; EVN's explicit strategic partner on HVDC, BESS, and grid development. Comparable as a larger state-owned utility engaged in similar transmission and storage modernization.
• Iberdrola: Spanish global utility with major renewable generation, transmission, and distribution businesses. Comparable as a vertically integrated utility executing renewables-led transition with strong grid integration expertise.

Regional players

• Sembcorp Industries: Singapore-headquartered energy and urban development company with significant renewable generation and energy storage in Vietnam and Southeast Asia. Comparable as a regional player operating in Vietnam's power sector alongside EVN.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/%C4%90I%E1%BB%86NL%E1%BB%B0CVI%E1%BB%86TNAM_EVNnews/featured
• LinkedInlinkedin.com/company/vietnam-electricity

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vietnam Electricity