EVN signs EUR 65 million loan agreement for Tri An Hydropower Plant expansion

Vietnam Electricity Group (EVN) has signed a loan agreement worth 65 million EUR with the German Reconstruction Bank (KfW) for the Tri An Hydropower Plant expansion project.

The signing of the Agreement took place in Frankfurt (Germany). This is the first project that KfW has lent to EVN in the form of a direct loan, without a government guarantee.

On EVN's side, there were Mr. Vo Hong Linh - Member of the Board of Directors; Mr. Nguyen Xuan Nam - Deputy General Director and related functional departments, representatives of Power Project Management Board 3 (the project implementation unit).

On the KfW side, Mr. Frank Bohnet - KfW's Regional Director for East Asia and Southeast Asia and Mr. Jochen Meyer-Lohmann - KfW Senior Project Manager represented the signing of the loan agreement.

EVN and KfW completed signing of loan agreement for Tri An Hydropower Plant Expansion Project.

The Tri An Hydropower Plant Expansion Project (in Dong Nai province) is invested by EVN. This is the last dam/hydropower plant in the hydropower cascade on the Dong Nai river system before the river flows through Ho Chi Minh City.

The expanded plant has a designed capacity of 200MW, located parallel to the existing Tri An Hydropower Plant. The investment and construction goal is to contribute to ensuring a stable and cost-effective power supply, while being environmentally and socially friendly, in line with the sustainable development orientation of the Vietnamese Electricity industry.

The project fully complies with Vietnamese laws and current technical standards, while meeting international engineering practices and environmental and social standards according to the Sustainable Development Guidelines of the lender - the German Reconstruction Bank (KfW).

EVN and KfW leaders signed the loan agreement.

The signing of the Loan Agreement marks an important step forward in the implementation of the Tri An Hydropower Plant Expansion Project, and continues to affirm the effective and long-term cooperation relationship between EVN and KfW in the field of sustainable energy development.

KfW is one of the largest banks in Germany. In Vietnam, EVN is one of KfW's most important partners. In the electricity sector, since 2009, KfW has signed 9 ODA funding agreements and non-refundable loans for EVN with a total capital of 891.5 million EUR, of which 6 projects have been completed and disbursed KfW loans.

For new projects, KfW has committed about 800 million EUR of ODA capital, preferential loans, and loans without government guarantees to implement new projects of EVN and EVN's member corporations in the coming time.

Source: https://baodautu.vn/evn-ky-hiep-dinh-vay-65-trieu-eur-cho-nha-may-thuy-dien-tri-an-mo-rong-d313534.html