An Euro 65 million investment in Smart power grid

An Euro 65 million investment in Smart power grid - 

The Prime Minister has approved the Draft agreement  between Vietnam’ Government and the German Reconstruction Credit Institute (KFW) on an € 65 million loan for the project: "Smart power grids -  Transmission efficiency (stage 1)".

The Agreement has signed by the Deputy Minister of Finance Truong Chi Trung on behalf of Vietnam’ Government and a competent representative of KfW.

Previously, on March 18, at a working meeting of the leaders of Ministry of Industry and Trade (MoIT) with the members of a mission from German Technical Cooperation Organization (GIZ), the participants of both sides listened to suggestions on implementing the technical supporting project: "Smart power grid for renewable energy and energy efficiency”.

The project "Smart power grid - Transmission efficiency (stage 1)" is financed by the German Climate and Technology Initiative Fund of GIZ in collaboration with the KfW and expected to be implemented in 4 years (2017-2021) by ERAV and GIZ. The project orientation is to define the weaknesses of the power transmission system of Vietnam and from that to make recommendations on policy for applying information technology and communications to optimize efficiency of the power system.

The project includes three main groups of activities as to: support making the relative legal frameworks, policies and regulations for the "Smart power grid" development with focusing on telecommunications and information technology; support capacity building through the seminars, training courses and study tours for raising knowledge and experience in "Smart power grid" development; cooperate in researching, developing and applying the new technologies and services in "Smart power grid" field.

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