EVN and KfW Sign Loan Agreement for Tri An Hydropower Plant Expansion Project

The signing ceremony of the loan agreement between Vietnam Electricity (EVN) and the German Development Bank (KfW) for the Tri An Hydropower Plant Expansion Project took place on June 24, 2025, in Frankfurt, Federal Republic of Germany.

The Tri An Hydropower Plant Expansion Project, invested by Vietnam Electricity (EVN), is being implemented in Dong Nai Province. It is the final hydropower project in the cascade system along the Dong Nai River before the river flows into Ho Chi Minh City. The plant has a designed capacity of 200 MW and is constructed in parallel with the existing Tri An Hydropower Plant. The project aims to enhance the efficiency of water resource utilization, add capacity to the national power system, and contribute to reducing greenhouse gas emissions.

The investment objective of the Tri An Hydropower Plant Expansion Project is to contribute to ensuring a stable and cost-effective electricity supply, while being environmentally and socially sustainable, aligning with Vietnam’s power sector's sustainable development orientation.

The project is being implemented in full compliance with Vietnamese legal regulations, meets current technical standards, and adheres to international engineering practices, as well as environmental and social standards, by KfW’s Sustainability Guidelines, as the lending institution.

The signing of this loan agreement marks a significant milestone in the implementation of the Tri An Hydropower Plant Expansion Project and further strengthens the long-standing, effective partnership between Vietnam Electricity (EVN) and the German Development Bank (KfW) in advancing sustainable energy development.

KfW is one of the largest development banks in the Federal Republic of Germany. In Vietnam, EVN is considered one of KfW’s most important and strategic partners. Since 2009, KfW has signed nine financing agreements with EVN, including both ODA loans and non-repayable grants, with a total value of up to EUR 891.5 million. Of these, six projects have been completed and disbursed, making significant contributions to the modernization of Vietnam’s energy infrastructure and the country’s green transition.

For upcoming projects, KfW has committed approximately EUR 800 million, including ODA funding, concessional loans, and non-sovereign loans to support EVN and its subsidiary corporations in implementing new energy projects shortly.

The key milestones of the Tri An Hydropower Plant Expansion Project are expected as follows:

• June 2025: Commencement of construction for the main components of the project.

• Q3 2027: Commercial operation of Unit 1.

• Q4 2027: Commissioning of Unit 2 and completion of the entire project./.