RSS Feeds for Approving 5-year production, business and investment development plan (2021-2025) of the Electricity of Vietnam (EVN) | Tạp chí Năng lượng Việt Nam May 18, 2024 08:09
Vietnam Energy Forum

Approving 5-year production, business and investment development plan (2021-2025) of the Electricity of Vietnam (EVN)

 - Deputy Prime Minister Tran Hong Ha has just signed Decision No. 345/QD-TTg dated April 26, 2024, for approving the 5-year production, business and investment development investment plan (period 2021 - 2025) of EVN.

The overall goal of the Plan is to develop EVN into a strong economic group with sustainable, effective and profitable business while preserving and developing state capital investment EVN and EVN's capital investment in other enterprises to complete other tasks assigned by the state owner, make a major contribution to the task of ensuring sufficient electricity supply for socio-economic development, production, business and consumption of the people at reasonable electricity prices, ensuring the preservation and development of state investment capital in the group.

The specific goal and task set for EVN is to direct the operation of the national power system to ensure continuous, stable, effective power supply, by regulations, and ensure power supply security. We are carrying out political tasks to play a key role in ensuring sufficient electricity supply for the socio-economic development, production, business and consumption of the people.

Investing in the development of assigned power plant and grid projects according to the Power Development Planning and frameworks cooperation between Vietnam and international partners for ensuring progress, quality and investment efficiency, especially important, key and urgent projects such as the 500 kV line project from Quang Trach (Quang Binh) to Pho Noi (Hung Yen) and construction of a smart, efficient and synchronous power grid with the power plants and electricity supply to the loads. At the same time, it promotes environmental protection measures in construction investment and exploiting the electricity projects.

Carrying out assigned tasks on infrastructure investment, training and human resource development to serve the development and operation of the competitive electricity market in Vietnam according to levels approved by competent authorities; soon deploy and promote the operation of a competitive retail electricity market.

Implement the EVN restructuring project for the period until the end of 2025 after being approved by competent authorities.

Constructing a smart power grid system with flexible operation, capable of high automation from transmission to distribution.

The main targets of the 5-year plan (2021 - 2025):

- The Electricity production and purchase: 1,404,891 million kWh.

-The sale of electricity: 1,288,064 kWh.

- The rate of electricity used for transmission and distribution: Strive to reduce to 6% by 2025.

- The normal profit on equity: 3%.

- The investment capital necessary: 479,000 billion VND.

Ensuring to meet electricity demand with an average sale electricity growth rate of about 7%/year:

The decision specifically states the implementation plan in the following fields: Electricity supply; investment in power plant development; investment in power grid development;

We are investing in power supply in rural, mountainous and island areas. In the field of electricity supply: Plan to ensure electricity demand is met with an average electricity sale growth rate in the period 2021 - 2025 of about 7%/year (including commercial electricity growth in the years 2022 – 2025 of about 7.82%/year). Prepare a plan to fully meet electricity demand with a higher growth rate of sale electricity.

For the investment in power plant development: Starting construction of 7 power plant projects with a total capacity of 3,643 MW and 150 MWp including Hoa Binh Hydropower Plant (expansion), Ialy Hydropower Plant (expansion), Quang Trach Thermal Power Plant 1, Tri An Hydropower plant (expansion), Bac Ai Pumped Storage Hydropower and Phuoc Thai 2, 3 rooftop power solar projects. Putting into operation 4 power projects with a total capacity of 840 MW and 150 MWp including Hoa Binh Hydropower (expansion), Ialy Hydropower (expansion) and Phuoc Thai 2 and 3 rooftop power solar projects.

Continue to implement solutions to accelerate investment progress in key power plant projects to put into operation the remaining 6 projects (in the period 2026 - 2030) with a total capacity of about 5,803 MW including the Quang Trach Thermal Power Plant. Trach 1, Tri An Hydropower Plant (expansion); Dung Quat 1 and 3 thermal power plants, LNG Quang Trach 2 and Bac Ai Pump Storage Hydropower.

Implement procedures to prepare for investment in expanding existing hydroelectric plants, pump storage hydroelectric plants and power plant projects using liquefied gas according to approved planning. At the same time, continue to research additional offshore wind power plant projects and expand the remaining existing hydropower plants (Son La, Lai Chau, Huoi Quang, Ban Chat), low-head hydropower plants ... to have enough basis to report to competent authorities for consideration and approval of inclusion in the planning/implementation plan of Power Development Planning VIII.

Focus on completing key 500kV line projects from Quang Trach (Quang Binh) to Pho Noi (Hung Yen) in 2024:

Investment in 500 - 220 kV power grid projects assigned in PDP VIII, including completing and putting into operation 225 transmission grid projects of 500 - 220 kV with a total length of about 10,500 km and a total transformer station capacity of about 63,000 MVA. Including investing in construction and completing a key 500kV line project from Quang Trach (Quang Binh) to Pho Noi (Hung Yen) in 2024.

Deploying investment in rural power supply projects in assigned localities in the Rural, Mountainous and Island Power Supply Program for the period 2021 - 2025 consistent with the Program's objectives and the ability to allocate state budget capital in the period 2021 - 2025.

Continue to allocate capital sources to renovate and expand the existing power grid, ensuring power supply reliability and power quality, and meeting the electricity use requirements of people and businesses.

The total investment capital need of the entire EVN is 479,000 billion VND:

- The decision clearly states that the total investment capital necessary for the entire EVN is 479,000 billion VND, including:

+ Net investment capital: 278,215 billion VND.

+ Capital contribution to power projects: 1,455 billion VND.

+ Repayment of origin and loan interest: 199,330 billion VND.

The total investment capital of the Parent Company - EVN is 99,950 billion VND, including:

+ Net investment capital: 50,402 billion VND.

+ Repayment of origin and loan interest: VND 49,548 billion.

+ For capital contribution to invest in the Vinh Tan 3 Thermal Power project, that will be updated and supplemented after the competent authority approves the capital contribution policy.

To achieve the set goals, EVN will deploy solutions on corporate governance and management; financial solutions; investment solutions; solutions for operating power plants and electricity markets; solutions on science and technology, safety, environment and sustainable development and solutions on defense - security - foreign affairs./.

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