EVN makes plans for crucial year
|EVN will make large investments this year despite a 30 per cent funding shortfall due to borrowing limits. — VNA/VNS Photo Ngo Lich|
HA NOI — At a two-day conference which ended yesterday, Government leaders said the electricity sector must maintain a stable power supply to continue the country’s economic growth.
In his statement at the Electricity of Viet Nam (EVN) conference in Ha Noi, Deputy Prime Minister Nguyen Tan Dung also said that EVN must ensure production safety and protect against transmission loss.
He instructed EVN to improve its oversight, consolidate its project management boards, and work on a proposal to issue the electricity bonds to provide capital for the industry’s development.
The EVN has set a target to produce 51.75 billion kWh of electricity in 2005, a 10.6 per cent increase from last year.
The EVN also forecast domestic consumption to increase by 5 billion kWh from last year to 45.2 billion kWh this year. The corporation also expressed its determination to increase efficiency by reducing power loss to 11.4 per cent from the 12.2 per cent in 2004.
EVN’s deputy general director, Pham The Thanh, warned that prolonged droughts could have a negative impact on EVN’s hydroelectric stations, threatening to reduce output by 860 million kWh this year.
In order to meet this challenge and a target to grow by 15 per cent annually, Thanh said EVN will need to invest VND25.57 trillion (US$1.65 billion), 20 per cent more than last year, into the construction of new power plants, transmission lines, and a number of transformers.
EVN also hopes to generate an additional 250 MW from Se San 3 hydroelectricity plant in the Tay Nguyen (Central Highlands) and from the turbine gas-powered Phu My Power Plant 2.1 in southern Ba Ria-Vung Tau Province.
The EVN also expects that a north-south transmission line linking the central city of Da Nang, central Ha Tinh Province and Thuong Tin (20km south of Ha Noi) will soon be completed.
EVN said investments for 2005 will be focused on the Son La hydroelectric plant in northwestern province of Son La, which will be the largest hydroelectric plant in Southeast Asia. Construction of the plant is scheduled to start in the fourth quarter of this year.
However, Thanh also noted that 30 per cent of the investment capital for 2005 has not been available because the EVN has exceeded its borrowing limit.
The corporation will have to seek funds through equitising some electricity plants and subsidiaries such as Thu Duc Electricity Company, Thac Ba hydroelectricity plants and Pha Lai thermoelectric plant. — VNS
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