IHPEP has been approved by the Prime Minister for investment policy; The Commission for Management of State Capital at Enterprises approved the Feasibility Study Report for EVN to decide on investment; EVN has assigned Power Project Management Board No. 2 to be the representative of the investor. The project includes 2 units with a total installed capacity of 360MW, the total investment is about VND 6,398 billion. Funding for the project implementation consists of 30% of EVN's counterpart capital and the remaining 70% is arranged from credit loans from AGRIBANK and the Agency for French Development (AFD).
Financing credit from AGRIBANK for the Ialy Hydropower expansion project is worth VND 2400 billion with a maximal loan term of 168 months. Previously, in mid-2021, EVN and AFD also signed a preferential credit loan without a government guarantee worth EUR 74.7 million (equivalent to about VND 1,900 billion).
IHPEP and other expansion hydropower projects are part of EVN's sustainable and green energy development strategy, thereby not only increasing EVN's hydropower capacity but also enhancing the sustainability and efficiency of the power system in the context of a very strong renewable energy development in the Central region.
Once completed, the project will bring the following effects: increasing the capacity to mobilize the capacity for load in the southern region, especially during the peak hours; contributing to improving the working mode of the power system (increasing the source and peak power of the load graph, increasing operational flexibility, increasing the reliability and safety factor, and so on), thereby contributing to reducing annual fuel costs, reducing greenhouse gas emissions. By making full use of the flow capacity by limiting the annual discharge, it will increase the average annual power generation output by about 233.2 million kWh, helping to replace power production from fossil fuels, contributing to a reduction in annual fuel cost, as well as greenhouse gas emission. In addition, when put into operation, the project also effectively reduces the working intensity of existing units, thereby extending the lifespan of the equipment, saving maintenance and repair costs.
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Ialy Hydropower Plant Expansion Project:
Investor: Vietnam Electricity
Representative of the investor to manage and operate the project: Power Project Management Board No. 2
Construction site: Ya Tang commune, Sa Thay district, Kon Tum province and Ia Mo Nong commune, Ia Kreng commune, Ialy town, Chu Pah district, Gia Lai province.
Design consultancy unit: Power Engineering Consulting Joint Stock Company No.1
Total investment: About VND 6,398,630 billion
Generating unit 1: Quarter II/2024; Generating unit 2: Quarter III/2024;
Completion of the project: December 2024.
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CONTACT INFO:
Communication Department - Vietnam Electricity;
Email: bantt@evn.com.vn
Điện thoại: 024.66946405/66946413; Fax: 024.66946402
Address: No. 11, Cua Bac Street, Truc Bach Ward, Ba Dinh District - Hanoi;
Website: https://www.evn.com.vn/
Fanpage: https://www.facebook.com/evndienlucvietnam
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