The signing ceremony of a credit agreement for a non-government guaranteed loan between Electricity of Vietnam (EVN) and the Agency for French Development (AFD) for the Expanded Hoa Binh Hydropower Plant Project

On 10 November 2021, in Hanoi, EVN  and AFD held the signing ceremony of a credit agreement for a preferential non-government guaranteed loan worth 70 million euros (equivalent to VND 1,900 billion, accounting for about 20% of total investment capital) for Expanded Hoa Binh Hydropower Plant Project.

The project has been approved by the Prime Minister in terms of investment policy; The Commission for Management of State Capital at Enterprises (CMSC)  approved the Feasibility Study Report for the Electricity of Vietnam (EVN) to decide on investment; EVN has assigned Power Project Management Board No. 1 (PPMB1) to present as the investor. The project includes 2 power units with a total installed capacity of 480MW, the total investment of VND 9,220 billion. The project's capital sources include: 30% of self-financed capital and 70% of commercial loans, of which foreign non-government guaranteed loans are EUR 70 million (equivalent to VND 1,900 billion) from AFD and the rest is borrowed from domestic commercial banks.

In the past years, with the great efforts and determination by EVN and (PPMB1), the online bidding for Expanded Hoa Binh Hydropower Plant Project has helped to shorten the implementation time by 02 months compared to the initial schedule set in the bidding. EVN has directed (PPMB1) to coordinate with the contractor joint-venture to focus resources, human resources and equipment on starting the work and complete the cofferdam construction before the water storage phase of the existing Hoa Binh reservoir; ensure the progress and quality of the work, implement the HSE (health - safety - environment) management system, strictly follow control procedures so as to minimize impacts on the environment - society during project construction.

Once completed, the project will bring about the following good effects: increasing the mobilization capacity for loads in the Northern region, especially during peak hours; contributing to improving the working model of the power system (increasing the source and peak power of the load curve, increasing operational flexibility, increasing the reliability and safety coefficient, etc.), thereby contributing to reducing production costs of the system. By making the most of the flow capacity by limiting the annual discharge, it will increase the average annual power generation output by about 495 million kWh, helping to replace power production from fossil fuels, contributing to reducing annual fuel costs, reducing greenhouse gas emissions. In addition, when put into operation, the project also effectively reduces the working intensity of existing units, thereby prolonging the equipment's life cycle, saving costs of maintenance and repair.

Expanded Hoa Binh Power Plant Project:

Investor: Vietnam Electricity

Representing for the investor to manage and operate the project: Power Project Management Board No. 1.

Construction location: The project is located on the right bank of Hoa Binh hydropower dam route: The plant is built in Phuong Lam ward; The intake gate and the inlet canal are located in Thai Binh ward, Hoa Binh city, Hoa Binh province.

Design consulting unit: Power Construction Consulting Joint Stock Company 1 (PECC1).

Main construction contractor: Joint Venture of Truong Son Construction Corporation - Construction Joint Stock Company No. 47 - LILAMA 10 Joint Stock Company.

Total investment: VND 9,220 billion.

Commencement date: January 2021.

Generating power by unit 1: Quarter II/2024; Generating power by unit 2: Quarter IV/2024;

Completion of project: Quarter IV/2024.

CONTACT INFO:

Communication Department - Vietnam Electricity;

Email: bantt@evn.com.vn

Telephone: 024.66946405/66946413; Fax: 024.66946402

Address: No.11 Cua Bac Street, Truc Bach Ward, Ba Dinh District - Hanoi;

Website: www.evn.com.vnwww.tietkiemnangluong.vn

Fanpage: www.facebook.com/evndienlucvietnam

The%20signing%20ceremony%20of%20a%20credit%20agreement%20for%20a%20non-government%20guaranteed%20loan%20for%20the%20Expanded%20Hoa%20Binh%20Hydropower%20Plant%20Project.docx


  • 10/11/2021 04:27
  • evn.com.vn
  • 266