Electricity

The Ministry of Industry and Trade (MOIT) is organizing a public consultation on the draft Decree stipulating the mechanism for developing power projects using domestic natural gas, imported liquefied natural gas (LNG) and some main contents, applicable in electricity purchase contracts. Below is the main content of this draft.

On April 3, 2024, in Hanoi, Electricity of Vietnam (EVN) and PowerChina Zhongnan - PCZ (China) signed a memorandum of cooperation to promote the experience and strengths of each party to enhance opportunities for cooperation in developing power projects.

On April 2, 2024, Deputy Prime Minister Tran Hong Ha signed Decision 270/QD-TTg approving the list of important national and key programs, works and projects in the energy sector after the Implementation plan of Power Plan VIII was issued.

On March 13, 2024, at Van Phong Economic Zone, Ninh Yen village, Ninh Phuoc commune, Khanh Hoa town, Khanh Hoa province, Van Phong Power Company Limited held the inauguration ceremony of Van BOT Thermal Power plant Van Phong 1 - one of the key energy projects, contributing to the electricity demand of Khanh Hoa province as well as the Southern and South Central regions.

Recently, at the inspection of production and work session, at Na Duong Coal Company and Na Duong Thermal Power Company - Vinacomin, The Chairman of Member Council of Vietnam Coal and Mineral Industry Group Ngo Hoang Ngan requested ready to start construction of the Na Duong 2 Thermal Power project in early April 2024.

From the beginning of 2024, the national load will grow by about 10.9% compared to the same period in 2023. Among them, the North will increase by 10.8%, the South by 12% and the Central region by 6.9%.

To promote the development of pumped storage hydropower globally, Andritz has simultaneously carried out a series of events in 2023, specifically: Signing a contract to supply equipment for the Amfilochia Pumped Storage Hydropower Plant Complex in Greece, Successfully synchronized grid connection of Unit 12, Phong Ninh II Energy Storage Plant in China and replaced Stator, Kühtai 1 Energy Storage Plant in Austria.

The investor consortium including Vietnam Truong Thanh Group Joint Stock Company (TTVN Group) and Japan Tokyo Gas and Kyunden Company had just held the launching ceremony of Thai Binh LNG Gas Power Joint Stock Company (in Thai Do commune, Thai Thuy district, Thai Binh Province). Previously.

On January 28, Prime Minister (PM) Pham Minh Chinh chaired an online meeting with ministries, agencies and 9 provinces to promote the implementation progress of 500 kV 3-circuit line projects from Quang Trach (Quang Binh province) to Pho Noi (Hung Yen Province) with the requirement: "Definitely the latest (June 30, 2024) to complete the project."

On January 22, 2024, in Thai Binh, The Electricity of Vietnam (EVN), National Power Transmission Corporation (EVNNPT) had a working session with the Thai Binh Provincial People's Committee on power supply and investment in the construction of power projects in Thai Binh province, with the center on the 500 kV circuit 3 line project (Nam Dinh 1 thermal power plant - Pho Noi section). At the meeting, Thai Binh province committed to ensuring the progress of handing over the project's foundation locations (in February) and route corridor (in March 2024) as requested by EVN and EVNNPT.

Under the Government's authorization, on January 16, 2024, Minister of Finance Ho Duc Phoc presented a report to the National Assembly on capital allocation for public investment projects.

The Government has just issued Decree 02/2024/ND-CP on transferring power projects as public assets to the Electricity of Vietnam (EVN). Below are some regulations on electrical projects as the public assets and conditions for the projects to be transferred and the order and procedures for transferring electrical projects of this Decree:

On the morning of December 28, 2023 in Hanoi, the joint venture contractor Construction Corporation No. 1 - JSC (CC1) - DR.AZ Group Co., Ltd. (DR China) and subcontractors officially signed an EPC contract for Na Duong 2 Thermal Power Project (by the Investor as Vinacomin Electricity Corporation - Joint Stock Company).

One of the three most prestigious credit rating organizations in the world - Fitch Ratings has raised the long-term issuer default rating (IDR) of the Electricity of Vietnam (EVN) and 6 member units from "BB" to "BB+"(stable outlook). Specifically, 6 member units of EVN were evaluated including:

The Ministry of Industry and Trade (MOIT) has just issued Decision No. 3110/QD-BCT to approve the Plan for Power supply and operation of the national electricity system in 2024.