EVN needs 93.2 trillion VND for power projects this year

The Electricity of Vietnam (EVN) needs total investment capital of 93.2 trillion VND (3.97 billion USD) for power projects this year and it will focus all resources to ensure the progress of such projects, according to the group.

With the demand for large capital, EVN targets to effectively use ODA and foreign loans, and to disburse ODA loans as scheduled, it said.

The group would also diversify sources of capital to meet the investment demand for power sources and grid projects and calculate capital needs according to projects and programmes to work with financial partners.

It would focus on completing key projects such as the expansion of the Duyen Hai 3 Thermal Power Plant and Da Nhim Hydroelectric Plant, and the 500kV transmission line of Vung Ang – Doc Soi – Pleiku. The key projects include transmission projects for small solar power and hydro-electricity plants and projects buying electricity from China and Laos.

In addition, EVN will review investment in power projects to ensure high efficiency in investment activities and control all steps in investment activities, including investment preparation, bidding organisation, buying of equipment and materials, construction and handover.

This year, the group strives to complete many projects, including the Thuong Kon Tum Hydropower Project and four solar power projects with a total capacity of 249MWp: Phuoc Thai 1, Phuoc Thai 2, Phuoc Thai 3 and Se San 4.

It would kick off construction of the Qu?ng Tr?ch I Thermal Power Plant and expansion of the Hoa Binh Hydro Power Plant.

EVN would also accelerate implementation of investment procedures for many other projects to start next year, including expansion of the Ialy Hydro Power Plant and construction of the O Mon IV Thermal Power Plant. It would continue preparation of investment procedures for construction of the O Mon III Thermal Power Plant, Dung Quat I and III thermal power plants, Quang Trach II Thermal Power Plant, and expansion of Tri An Hydro Power Plant.

Especially, EVN would focus investment to complete power grid projects as scheduled to ensure electricity supply for the South and Hanoi.

Source: Vietnam News Agency