Mr. Tran Minh Dung - EVNNPC Vice President hosted a meeting with the delegation.
Mr. Tran Minh Dung - EVNNPC Vice President speaking at meeting
EVNNPC Vice President Tran Minh Dung said: “Over the past years, EVNNPC has received financial support through preferential loans from the Government of the Federal Republic of Germany through the KfW bank. Thereby, EVNNPC's power grid system has achieved the target of enhancing power supply capacity, improving power quality, enhancing power supply reliability, and ensuring safety standards for the distribution grid, while creating a premise for the development of smart grids in compliance with the roadmap for modernizing Vietnam's power system. The Yen Thang 110kV substation in Nam Dinh province is one of the tangible results of this cooperation".
Ms. Bärbel Kofler - State Secretary, Ministry for Economic Cooperation and Development of the Federal Republic of Germany and delegation visiting some projects of EVNNPC. Photo: Mai Dung.
The new construction scale of the Yen Thang 110kV substation project consists of 3,076km of double-circuit 110kV line with 300/39 ACSR conductors and a 110kV substation including 2 transformers with a capacity of 40MVA, completing the installation of 1 T1-110/35/22kV-40MVA transformer, energizing and put into operation on 4 June 2023.
The project is effective in economic, technical of power grid operation, political - social - and environmental such as: improving power quality, reducing power loss; ensuring stable power supply for household and production loads, especially stable power supply for large pumping stations serving agricultural production; attracting investors to develop production in neighboring industrial clusters, contributing to local socio-economic development, ensuring security and politics in the area, etc.
At the meeting, the two sides also discussed issues related to the Just Energy Transition Partnership (JETP) and Vietnam's net zero commitment, the social impact of high-cost investments in power supply, coping with challenges to meet high growth demand, etc.
In the coming time, EVNNPC wishes to continue receiving support and companionship from the German Government and KfW Bank with preferential policies, and financial, technological, and technical support to help the EVNNPC gradually achieve sustainable growth.
In 2023, the world's prestigious credit rating organization Fitch Ratings upgraded EVNNPC's credit rating to BB+, with a "Stable" outlook. EVNNPC's standalone credit profile is rated at 'BB+' and Vietnam's national credit rating (BB+/Stable).