EVN and CDP signed a Letter of Intent for cooperation in the project of Bac Ai Hydropower Plant

EVN Deputy General Director Nguyễn Xuân Nam (left) presents the Memorandum of Understanding to a representative of Cassa Depositi e Prestiti (CDP), the Italian National Development Bank.

Deputy General Director of EVN Nguyen Xuan Nam signed the agreement on behalf of EVN, under the witness of leaders of ministries and branches of the two countries. EVN also participates in discussion sessions on high technology, innovation and bilateral business meetings.

Bac Ai Storage Hydropower Plant is the first storage hydropower project in Vietnam, under the Power Plan VIII, with a capacity of 1,200 MW. The project plays an important role in the operation of the national power system: generating power at peak 7 hours/day, pumping stored water at off-peak hours, frequency regulation, rotational backup and supporting energy security.

Previously, on May 12, 2025, EVN and six international financial institutions, including CDP, signed a Term Sheet to arrange capital for the project.

Key information about the project:

- Investor: Electricity of Vietnam (EVN).

- Project Manager: Power PMU 3.

- Location: Bac Ai District, Ninh Thuan Province.

- Total investment capital: 21,101,468 million VND.

- Commencement: February 2025.

- Power generation schedule: Unit 1 (12/2029), Unit 2 (4/2030), Unit 3 (8/2030), Unit 4 (12/2030).

- Fully completed: 5/2031./.