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USD 500 millions for improving power transmission grid

USD 500 millions for improving  power transmission grid - 

On November 12th, in Ha Noi, the State Bank of Vietnam (SBV) and World Bank (WB) had signed a credit loan agreement of  $500 millions for “Transmission Efficiency Project” of National Power Transmission Corporation (EVNNPT).

The signing Ceremony loan Agreement and related Legal document for “Transmission Efficiency Project”.

The project includes the main parts as development of transmission infrastructure and smart grid, and capacity building with the objectives to support the implementation of investment program on capacity building of power transmission network of Vietnam, increase the efficiency, reliability of power supply services and strengthen capacity building for EVNNPT.

After the completion, the project will contribute about 15% to the growth of power transmission network in Vietnam to 2020. The project focuses on solving main investment needs of the large economic development zones such as: Hanoi, Ho Chi Minh City, the Mekong River Delta and Central area - where the overload of transmission lines has appeared and will occur in near future.

The project will support a smart grid technology for monitoring, controlling and protecting equipment in order to increase reliability and reduce power losses.

The total investment of the project is about USD 731.25 million, of which, USD 500 million is loan from the WB Group and an USD 231.25 million remaining fund belongs to responsibility of the EVNNPT.

Vietnamenergy.vn

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