Electricity of Vietnam (EVN) have signed five contracts to buy electricity from two Lao firms in the 2021-2022 period following Prime Minister Nguyen Xuan Phuc’s approval.
Vietnam faces power shortage
The contracts were inked at the 42nd meeting of the two-country Inter-Governmental Committee on January 4.
EVN will buy electricity from Chaleun Sekong Energy Co. Ltd.'s Nam Kong 2 and Nam Kong 3 hydropower plants and Nam San 3A and Nam San 3B hydropower plants operated by Phongsubthavy Group.
The import is aimed to ease Vietnam’s power shortage which has been forecasted to reach 7-8 billion kWh during the 2021-2025 phase. This has been mainly attributed to the slow pace of electricity projects.
Among 60 power projects with the capacity of more than 200 MW each scheduled to be operated before 2030, up to 35 have faced stagnation.
Prime Minister Nguyen Xuan Phuc has instructed to prioritise gas and coal supply for power production.
EVN has also been urged to speed up 10 power projects, including Quang Trach 1, Quang Trach 2, Dung Quat 1, Dung Quat 3 and O Mon 3.
At the 42nd meeting of the two-country Inter-Governmental Committee, Lao Minister of Energy and Mines Khammany Inthirath said that the country is studying 20 power projects of high capacity for the export. Dtinews
The prices of oil and coal have been decreasing, which is expected to improve the profits of power companies.
Of the total 127 projects, up to 89 solar power facilities with a total capacity of roughly 4,530 MW have been put into commercial operation, generating 30 million kilowatt hours of electricity each day.