On April 26, Deputy Prime Minister Tran Hong Ha signed Decision 345 of the Prime Minister, approving the five-year business production and development plan for the 2021 – 2025 period of the Vietnam Electricity Group (EVN).
EVN’s total capital demand until 2025 is 479,000 billion VND
Accordingly, the main targets of the five-year plan for 2021 – 2025 include: Electricity production and purchase of 1,404,891 million kWh; commercial electricity of 1,288,064 kWh; planned profit on equity is 3%.
The Decision specifies the implementation plan for the following areas: Electricity supply; investment in power source development; investment in grid development; investment in electricity supply to rural, mountainous and island areas.
For electricity supply, the plan ensures meeting electricity demand with an average commercial electricity growth rate for the period 2021 – 2025 of about 7%/year (in which commercial electricity growth in the years 2022 – 2025 is about 7.82%/year). Prepare a plan to be able to meet sufficient electricity demand with a higher commercial electricity growth rate.
For the field of investment in power source development, 7 power source projects with a total capacity of 3,643 MW and 150 MWp will be started, including: Hoa Binh MR Hydropower Plant, Ialy MR Hydropower Plant, Quang Trach I Thermal Power Plant, Tri An MR Hydropower Plant, Bac Ai pumped-storage hydropower plant and Phuoc Thai 2, 3 solar power plants. Putting into operation 4 power source projects with a total capacity of 840 MW and 150 MWp, including: Hoa Binh MR Hydropower Plant, Ialy MR Hydropower Plant, and Phuoc Thai 2, 3 solar power plants.
Continuing to implement solutions to accelerate the investment progress of key power source projects to put into operation 6 remaining projects in the period 2026 – 2030 with a total capacity of about 5,803 MW, including: Quang Trach I Thermal Power Plant, Tri An MR Hydropower Plant; Dung Quat I&III Thermal Power Plant, Quang Trach II LNG, Bac Ai pumped-storage hydropower plant.
Deploying procedures to prepare for investment in expanding existing hydropower plants, pumped-storage hydropower plants and power source projects using liquefied gas according to the approved plan. Focus on completing the key project of the 500 kV power line from Quang Trach (Quang Binh) to Pho Noi (Hung Yen) in 2024
According to the approved plan, EVN’s total capital demand is VND 479,000 billion. Of which, net investment capital is VND 278,215 billion, contributing capital to power projects is VND 1,455 billion, and paying principal and interest on loans is VND 199,330 billion. EVN’s parent company’s total capital demand is VND 99,950 billion.
To achieve the set targets, EVN will deploy solutions on corporate governance and management; solutions on finance; solutions on investment; solutions on operation of power plants and electricity market; solutions on science, technology, safety, environment and sustainable development; solutions on defense – security – foreign affairs.
