EVN invests $5.9b in power projects in 2016

The Electricity of Vietnam (EVN) said it invested around VND134.85 trillion (US$5.93 billion) to boost the capacity of the national power grid in 2016.

Up to VND134.85 trillion (US$5.93 billion) was spent by EVN to boost the capacity of the national power grid in 2016. -Photo congluan.vn

This is 1.8 per cent higher than the amount the group planned to invest in 2016 and equals 9 per cent of the total social investment of the nation.

The EVN put into operation five turbines at Lai Chau and Huoi Quang hydropower plants and Duyen Hai thermo-power plant, which have a combined capacity of 2,305MW.

Work on the other key power generation projects is on schedule.

In 2016, the EVN completed 297 projects related to the upgradation and expansion of the national grid, including transformer stations and transmission lines that are key to improving power security in the south; electricity transmission capacity between the north and the south; and electricity supply for the capital and key northern economic zones.

The EVN also joined Cai Chien island in the northern province of Quang Ninh, Cu Lao Cham island in the central province of Quang Nam and Lai Son and Hon Nghe islands in the southern province of Kien Giang to the national grid last year.

Projects to expand the electricity network in Lao Cai’s Muong Khuong district and to 2,800 households in Sơn La have been underway since last year and are expected to be complete before the Lunar New Year, which falls on January 27.

EVN Director Dang Hoang An said the group mobilised $2.96 billion official development assistance and preferential loans from international financial institutions, such as the World Bank, Asian Development Bank and Japan International Co-operation Agency.

Strong investment ensured that the projects went on smoothly, and none were cancelled because of fund shortage in 2016.

Source VNS