A report from the Ministry of Industry and Trade has warned about power shortages in 2020 as 47 electricity projects, most of them are in the southern region, are stagnated.
There are currently three groups of investment projects, the first one includes projects invested by state firms such as EVN, PVN and TKV.
The second group are BOT projects and the third are IPP projects. There are 62 big projects with a capacity of over 200MW but only 15 projects progress as scheduled, 47 projects are stagnated.
23 out of 47 stagnant projects are invested by EVN. According to EVN, from 2016 to 2018, they had completed eight projects with a total capacity of VND4,540 MW.
From 2016 to 2017, they put 4,440MW into the power grid, 35% higher than the established goal.
In 2018 alone, they successfully put into operation two generators at Song Bung Hydropower Plant. They planned to complete four projects with a capacity of 1,560MW this year.
PVN is the investor of eight projects that have a total capacity of 11,400MW. However, all of them are having difficulties and can hardly meet the schedules as stated in the adjusted Power Development Plan.
The TKV invested in four projects with 2,950MW of capacity and all of them are stagnated by at least two years.
There are 15 BOT projects, of which only three projects meet the scheduled, the rest are stagnant or having troubles in negotiation.
Out of eight IPP projects that have a total capacity of 7,390MW, only one project was completed on time, two projects are expected to meet the schedule while the remainder are stagnant.
Statistics from the Ministry of Industry and Trade show that there are five projects scheduled for 2021-2030 period that still haven't had investors.
One of them has been scrapped. Usually, BOT projects that already found investors and have contracts signed rarely have troubles or stagnated.
Projects whose negotiation hasn't even succeeded like Son My 1, Song Hau 2 or Long Phu 2 face strong possibility of not being able to meet the expected operation goal.
Vietnam needs 1.7 billion kWh from thermal power plants this year and 5.2 billion kWh in 2020 to meet demand.
However, the total power capacity from 2016 to 2030 period is estimated to be around 80,500MW, much lower than the goal set in the Power Development Plan VII by 15,200MW.
According to the ministry, if the power generators can't meet demands or there is not enough fuel for the power plants then we may face power shortage in 2020, especially in the southern region.
The southern region will lack 3.7 billion kWh in 2021 and nearly 10 billion kWh in 2022. The power shortage is expected to ease and reduce to 3.5 billion kWh in 2024. Dtinews
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