On June 24, 2025, in Frankfurt, Germany, the Vietnam Electricity Group (EVN) signed a loan agreement worth 65 million EUR with the German Development Bank (KfW) for the Tri An Hydropower Plant Expansion Project. This is the first project for which KfW has provided a direct loan to EVN, without a government guarantee.
The Tri An Hydropower Plant Expansion Project, located in Dong Nai province, is owned by EVN. This is the last dam/hydropower plant in the cascade of hydropower plants on the Dong Nai River before it flows through Ho Chi Minh City.
The expanded plant has a designed capacity of 200MW, parallel to the existing Tri An Hydropower Plant. The investment aims to ensure stable electricity supply, cost efficiency, and environmental and social friendliness, in line with the sustainable development orientation of Vietnam’s electricity industry.
The project complies with all Vietnamese laws and current technical standards, while also meeting international technical practices and environmental and social standards according to the Sustainable Development Guidelines of the lender, the German Development Bank (KfW).
The signing of the loan agreement marks a significant step in the implementation of the Tri An Hydropower Plant Expansion Project and further affirms the effective and long-term cooperation between EVN and KfW in the field of sustainable energy development.
In Vietnam, EVN is one of KfW’s most important partners. In the electricity sector, since 2009, KfW has signed 9 agreements to provide ODA and grant funding to EVN, totaling 891.5 million EUR. Six of these projects have been completed and KfW loan funds disbursed.
For new projects, KfW has committed approximately 800 million EUR in ODA, concessional loans, and non-government-guaranteed loans for upcoming projects of EVN and its member corporations.
Key milestones of the Tri An Hydropower Plant Expansion Project:
June 2025: Commencement of construction of main items
Q3 2027: Operation of Unit 1
Q4 2027: Operation of Unit 2 and completion of the entire project
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