Speaking at the meeting, EVN’s Vice President Nguyen Xuan Nam highly appreciated the active support and assistance of KfW as well as the German Government extended to EVN via preferential ODA loans to invest, construct, rehabilitate distribution and transmission grids, and wind power plant projects in Vietnam, contributing to ensuring the stability of the power system, providing effective and sustainable energy sources.
EVN’s Vice President Nguyen Xuan Nam speaks at the meeting
Tri An HPP Extension project is the first one funded by a KfW’s non-sovereign loan. The leader of EVN emphasized that in the current difficult situation of financial arrangement, diversifying financial sources with non-sovereign loans in addition to conventional ODA loans from such a donor as KfW Development Bank is a necessity.
EVN’s Vice President expected that the two sides would make further efforts to collaborate and harmonize procedures with the target of signing the loan agreement for Tri An HPP Extension project in the second quarter of 2024.
Ms. Anette Haller - Director of KfW Development Bank in Hanoi works with EVN leadership on March 5
As for KfW, Ms. Anette Haller - Director of KfW in Hanoi affirmed that EVN is one of KfW's most important partners in Vietnam. KfW is committed to closely working with EVN to implement more priority projects of EVN and KfW in the coming time.
At the meeting, the two sides also discussed details of the financial arrangement for Tri An HPP Extension project. In addition, KfW, AfD, JICA, and EIB have been working together to arrange finance for Bac Ai Pumped Storage Hydropower Plant project under non-sovereign loans.
In addition, EVN and KfW have been cooperating to prepare a project pipeline including 5 new projects to use German’s ODA loans with a total loan amount of about EUR 652 million, including Green Power Grid project - connecting Renewable Energy projects in the Southern provinces; Renewable Energy project - Improving power grid infrastructure in the Central region; Energy efficiency project in urban areas phase 2; Renewable Energy project - Transmission efficiency; Efficient Power Grid project in the North.
From 2009 up to now, KfW has committed ODA loans and non–sovereign loans to EVN with a total amount of about EUR 1.5 billion, of which 5 ODA projects have been completed with a total amount of EUR 427 million, 4 ODA projects are being implemented with a total amount of about EUR 464.5 million, 5 new ODA projects and 3 new non-sovereign loan funded projects with a total amount of about EUR 800 million are under preparation.