Vietnam in deals to buy 1.5 billlion kWh of electricity annually from Laos

Bich Phuong Thứ Hai | 06/01/2020 17:18

Vietnam’s electricity firm EVN signed contract to buy electricity from 5 hydropower plants with an output of nearly 1.5 billion kWh each year from Laos, starting 2021, the state-owned company said.

Vietnam is expected to face severe power shortages from 2021, since the power demand keeps increasing for social economic development.

The policy of buying electricity from Laos has been approved by the government in 2019 while the negotiation of power purchase contracts is under the guidance of the Ministry of Industry and Trade.

The contract was signed in Hanoi on weekend with Laos’ Phongsubthavy and Chealun Sekong groups, EVN said.

Vietnam is seen to face electricity shortage at 3.7 billion kWh in 2021. The figure is seen to increase to nearly 10 billion kWh in 2022. By 2023, the shortage could increase to about 15 billion kWh.

The development of wind and solar power has not met the target placed by the government. Some wind and solar power projects had to cut capacity due to overload of power grid.

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