The World Bank in Vietnam and the National Power Transmission Corporation (EVNPT) on Nov. 14 launched the Transmission Efficiency Project (TEP), which will account for 15 percent of Vietnam’s transmission network growth by 2020.
The project has a total investment of 731.25 million USD, with the World Bank providing a credit loan of 500 million USD at a signing ceremony on November 12.
Addressing the project’s launching conference on November 14 in the central city of Da Nang, Victoria Kwakwa, the Country Director of the World Bank, spoke highly of Vietnam’s achievements in electrifying rural areas.
TEP is the biggest power project in Vietnam the WB is involved in, she noted, adding that the bank valued the sound cooperation between the two sides on electricity development.
Meanwhile, Deputy General Director of the Electricity of Vietnam (EVN) Dinh Quang Tri noted that the WB is shifting investment to improving electricity service quality as well as sustainable and clean energy.
According to Tri, since 1995, the WB has provided approximately 3 billion USD in ODA to the EVN to carry out power projects, along with technical and training support.
Dang Phan Tuong, Chairman of the EVNNPT Board of Management said TEP, which comprises 21 smaller 500kV and 220kV transmission projects, is designed to increase the capacity, efficiency and reliability of the transmission system in key economic areas, such as greater Hanoi and Ho Chi Minh City, the Mekong Delta, and central region.
It also supports smart grid technologies to monitor, control and protect equipment in order to improve the reliability of energy supply and reduce electricity transmission losses, as well as building the capacity of the EVNNPT, he said.
Along with supplying power for the development of industrial parks, the project contributes to the development of a smart power network that applies advanced technology in a bid to increase the reliability and efficiency of the system, and connect large-scale renewable energy sources in the future, he added.-VNA
The project has a total investment of 731.25 million USD, with the World Bank providing a credit loan of 500 million USD at a signing ceremony on November 12.
Addressing the project’s launching conference on November 14 in the central city of Da Nang, Victoria Kwakwa, the Country Director of the World Bank, spoke highly of Vietnam’s achievements in electrifying rural areas.
TEP is the biggest power project in Vietnam the WB is involved in, she noted, adding that the bank valued the sound cooperation between the two sides on electricity development.
Meanwhile, Deputy General Director of the Electricity of Vietnam (EVN) Dinh Quang Tri noted that the WB is shifting investment to improving electricity service quality as well as sustainable and clean energy.
According to Tri, since 1995, the WB has provided approximately 3 billion USD in ODA to the EVN to carry out power projects, along with technical and training support.
Dang Phan Tuong, Chairman of the EVNNPT Board of Management said TEP, which comprises 21 smaller 500kV and 220kV transmission projects, is designed to increase the capacity, efficiency and reliability of the transmission system in key economic areas, such as greater Hanoi and Ho Chi Minh City, the Mekong Delta, and central region.
It also supports smart grid technologies to monitor, control and protect equipment in order to improve the reliability of energy supply and reduce electricity transmission losses, as well as building the capacity of the EVNNPT, he said.
Along with supplying power for the development of industrial parks, the project contributes to the development of a smart power network that applies advanced technology in a bid to increase the reliability and efficiency of the system, and connect large-scale renewable energy sources in the future, he added.-VNA
