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EVN in need of $26.68 billion from 2016 to 2020

Released at: 17:48, 26/09/2015

EVN in need of $26.68 billion from 2016 to 2020

Funds required for investment over next four years.

by Son Ho

In the 2016-2020 period Electricity of Vietnam (EVN) will need VND600 trillion ($26.68 billion) for investment in electricity projects, a representative of EVN’s Department of Planning told a meeting held by the Ministry of Planning and Investment on September 25.

In the first nine months of the year EVN invested VND82.173 trillion ($3.65 billion) in a range of projects and the total for the year is expected to be VND127 trillion ($5.65 billion). “In the 2016-2020 period more than VND600 trillion ($26.68 billion) is required for investments, or $6 billion to $7 billion annually on average,” the representative said. This figure is around 25 per cent higher than in the 2011-2015 period. In addition to equity capital and domestic loans, EVN is contemplating borrowing from foreign organizations.

Electricity production and distribution increased 11.4 per cent in the first nine months. Electricity for manufacturing and electricity purchased was estimated at 118.5 billion kWh, a 12 per cent increase year-on-year, which cut the country’s reliance on China. Electricity for sale is estimated at 106.1 billion kWh, 11 per cent higher compared to last year. Most households have higher electricity consumption than previously.

To the end of the year EVN is trying to put the first power generation unit of the Lai Chau hydropower plant into use, ahead of schedule, and is also investing in plants in the central region and the south.

According to electricity planning for 2011-2020, Vietnam is to build 54 coal-fired power plants as well as gas-fired power plants, hydropower plants, and nuclear power plants.

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