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Trung Nam wind energy plant in Thuan Bac District, Ninh Thuan Province, February 2019. Picture by VnExpress/Quynh Tran
Vietnam Electrical energy (EVN) will borrow 80 million euros (over US$88 million) from the French Growth Company (AFD) to combine renewable power with the ability grid in southern Vietnam.
The mortgage settlement will fund a undertaking that goals at strengthening the ability grid within the south of Vietnam and the mixing of newly put in renewable power capacities. The non-sovereign mortgage was pledged by AFD in 2018 to the Southern Energy Company (EVNSPC), an EVN subsidiary, a French embassy press launch Tuesday.
Work might be carried out on practically 540 km of distribution strains and electrical substations with a capability of roughly 900 MVA.
The undertaking will contribute to the connection and transmission of electrical energy generated by renewable power vegetation, thus relieving strain on the prevailing grid. It would additionally enhance the standard of electrical energy provide for finish customers and cut back technical losses.
Round 630 MW of renewable power is anticipated to be related to the distribution community, changing a part of fossil gasoline technology and serving to keep away from emitting practically 500,000 tons of CO2 equal per 12 months. The estimated discount in technical losses is 151 GWh per 12 months.
Herve Conan, Director of AFD, mentioned it needs to assist Vietnam implement the Paris Settlement in addition to the Web Zero Emissions dedication by 2050 that Vietnam made at COP26.
The mortgage settlement will pave the best way for future collaboration between AFD and EVN, not solely by way of non-sovereign financing but in addition on the degree of EVN’s subsidiaries engaged in energy transmission and distribution.
Over the previous three years, Vietnam has elevated its renewable power capability by 20GW, totaling practically 25 % of its power combine. Nonetheless, the nation lacks the transmission infrastructure to combine this renewable power.
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