Nearly 135 trillion VND invested in power projects in 2016

Hanoi (VNA) – The Electricity of Vietnam (EVN) said it channelled more than 134.85 trillion VND (5.93 billion USD) into boosting the national grid capacity last year.

The figure was 1.8 percent higher than the investment sum the group planned for 2016 and was equal to 9 percent of total social investment of the entire nation.

As a result, the EVN put into operation five turbines at Lai Chau and Huoi Quang hydropower plants as well as Duyen Hai thermo-power plant with combined capacity reaching 2,305 MW.

The pace at most other key generation projects is on schedule.

In 2016, the EVN completed 297 projects on upgrading and expanding the national grid, including transformer stations and transmission lines which are key to power security in the south, electricity transmission capacity between the north and the south, and electricity supply for Hanoi and key northern economic zones.

As part of EVN projects last year, Cai Chien island in the northern province of Quang Ninh, Cu Lao Cham island in the central province of Quang Nam as well as Lai Son and Hon Nghe islands in the southern province of Kien Giang have joined the national grid.

Projects to expand electricity access in Lao Cai’s Muong Khuong district and for 2,800 households in Son La have been underway since 2016 and are expected to finish prior to the upcoming Lunar New Year, which is due to fall on January 27.

According to EVN Director Dang Hoang An, the group mobilised some 2.96 billion USD worth of official development assistance and preferential loans from international financial institutions, such as the World Bank, Asian Development Bank and Japan International Cooperation Agency.

Strong investment led to smoother performance of EVN projects, with none cancelled due to money shortage throughout 2016.-VNA