AFD supports EVN to launch southern Viet Nam power distribution project
VGP - The Viet Nam Electricity Group (EVN) and the French Development Agency (AFD) on March 28 signed a credit facility agreement worth €80 million (or US$87.8 million) to implement the southern Viet Nam power distribution project.
The Viet Nam Electricity Group (EVN) and the French Development Agency (AFD) sign a credit facility agreement worth €80 million (or US$87.8 million) to implement the southern Viet Nam power distribution project, Ha Noi, March 28, 2022
The southern Viet Nam power distribution project, invested by EVN's subsidiary-the Southern Power Corporation, comprises 33 sub-projects, located in Ben Tre, An Giang, Binh Thuan, Long An, Soc Trang, Tra Vinh, Ca Mau, Binh Phuoc, Dong Nai, Dong Thap, Bac Lieu, Kien Giang provinces and Can Tho City.
These sub-projects are included in the electricity planning scheme for 2016-2025 with a vision towards 2035, approved by the Ministry of Industry and Trade.
Chairman of the EVN's Member Board Duong Quang Thanh, said the loan is expected to help expand the southern power grid and facilitate the use of renewable energy sources that are developing strongly in southern provinces.
He highlighted the active cooperation and support of the AFD and European partners, which has helped the EVN fulfill its role as the driving force of the domestic energy sector, thus contributing to the national energy transition program.
In his remarks, Director of the AFD in Viet Nam Herve Conan said the power transmission project will help the EVN and Viet Nam achieve the target of low-carbon emissions and sustainable development, implement the Paris agreement on climate change and fulfill its commitment of net zero emissions by 2050 made at the 26th UN Conference of Parties (COP26) in Glasgow.
Since 2000, the EVN and the AFD have maintained cooperation through sovereign and non-sovereign loans for electricity projects.
The agency has so far committed some EUR350 million worth of non-sovereign loans to the EVN.
