Vietnam Electricity Group targets global top 500 status

Vietnam Electricity Group (EVN) has notified the Ministry of Finance of its intention to join the list of the world’s 500 largest companies. This ambition aligns with national goals to establish several state-owned enterprises within the global top 500 by 2030. To qualify, a company must achieve annual revenue exceeding approximately US$32 billion. EVN reported consolidated revenue of about $24.6 billion in 2025 and has shown improved business performance, with first-half 2026 revenue estimated at VND352.787 trillion ($13.5 billion).

In a significant technological expansion, the Northern Power Corporation (EVNNPC) is working to complete the energization of a 305 MW Battery Energy Storage System (BESS) by August 2026. This initial phase, which includes 610 MWh of storage capacity, already exceeds the total BESS capacity target previously set for the entire country by 2030. The system will be distributed across 47 substations in eight northern provinces to support grid stability and manage electricity demand, which is projected to grow by 10-12 percent annually through 2039.