HCMC – At the 43rd session of the Vietnam – Laos inter-governmental committee for bilateral cooperation in Hanoi City on December 6, the Vietnam Electricity Group (EVN) signed multiple Memoranda of Understanding (MoU) with several investors of power projects in Laos to buy electricity.
The signing ceremony was witnessed by Vietnam’s Prime Minister Nguyen Xuan Phuc and his Lao counterpart Thongloun Sisoulith.
Specifically, EVN cut a deal with Laos’ Phongsubthavy Group to buy electricity from 2024 to 2025 from the Nam Yeuang Hydropower plant project with a capacity of 84 MW, while the group’s Nam Phan coal-fired thermal power project will sell power to Vietnam in 2025.
In addition, EVN also signed an MoU with Kong sup Hydro Development Company of Nam Neun 1 and Nam Neun 3 to develop the Nam Neun 1 Hydropower plant project with a capacity of 124 MW. The project will sell electricity to Vietnam in the 2024-2025 period.
The plan to purchase power from Laos was approved by the prime minister, the local media reported, citing EVN.
In the coming months, the two sides will step up the negotiation on power purchase contracts in line with directives from the Ministry of Industry and Trade, a representative of EVN said.
In early January, Minister of Industry and Trade Tran Tuan Anh and Minister of Energy and Mines of Laos Khammany Inthirath witnessed the signing of the power purchase agreements between EVN and Phongsubthavy Group and Chaleun Sekong Energy Co.
The volume of power set to be sold to Vietnam will be some 1.5 billion kWh during the 2021-2022 period.