IFC, Vietnam's EVNNPT discuss investment in power transmission projects
Vietnam's National Power Transmission Corporation (EVNNPT) and the International Finance Corporation (IFC), a member of the World Bank Group, have discussed issues related to potential cooperation and investment in power transmission projects under the Power Development Plan VIII (PDP VIII).
The discussions came as part of a recent meeting between EVNNPT deputy general director Hoang Van Tuyen and an IFC delegation led by Elvira Morella, country advisory and economics (CAE) manager for East Asia and the Pacific.
The IFC delegation at the working session with EVNNPT. Photo courtesy of EVNNPT.
The two sides have also talked about transmission pricing, battery energy storage systems (BESS), financing arrangements for upcoming projects, and other new projects of state utility Vietnam Electricity (EVN), the parent company of EVNNPT.
At the meeting, Morella stated that IFC is a global development organization focusing on supporting the private sector in emerging markets. It also supports state-owned enterprises that play important roles in the economy and operate under market principles, especially in the infrastructure sector, she added.
She emphasized that IFC not only provides financial investment but also has extensive experience in advisory services and direct technical support for enterprises. It hopes to establish long-term and sustainable cooperation with EVNNPT in developing future power transmission projects.
Welcoming the IFC delegation, Tuyen expressed appreciation for the projects the corporation has implemented in various countries.
Deputy general director of EVNNPT Hoang Van Tuyen chairs the working session with the IFC delegation. Photo courtesy of EVNNPT.
He informed the IFC delegation that investment demand for developing the power transmission grid from now until 2030, with a vision to 2050 under PDP VIII, is very large, and the required capital is likewise substantial.
EVNNPT hopes to receive IFC’s support not only in financial resources but also in policy consulting, technical assistance, experience, and vision to realize its development goals, he noted.
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