Vietnam is likely to import roughly 3,000 megawatts (MW) of electricity from Laos from now until 2025 to meed the country’s power demand that is estimated to grow 9% annually by 2030.
| Vietnam continues buying power from Laos |
.jpg)
Dr Daovong Phonekeo, Lao deputy minister of Energy and Mines told Vientiane Times that Vietnam is purchasing electricity from energy plants built by Lao and Vietnamese investors.
“From now until 2025, Vietnam will purchase 3,000MW of electricity from Laos at a price of 6.95 US cents per kWh. It is expected that the amount of electricity sold to Vietnam will rise to 5,000MW between 2026 and 2030, with the price to be re-determined,” he said.
In a latest move, Vietnam Electricity (EVN), the country’s sole power distributor, signed several deals to buy electricity from Laos after 2024.
| EVN and Lao partner sign deals at the presence of Vietnam’s Prime Minister Nguyen Xuan Phuc and Lao PM Thongloun Sisoulith |
The deals were reached last weekend at the 43rd meeting of the Vietnam-Lao Inter-Governmental Committee at the presence of Vietnam’s Prime Minister Nguyen Xuan Phuc and Lao PM Thongloun Sisoulith.
Under three memoranda of understanding (MoU), EVN will cooperate to develop total 500MW power in Laos, including 84MW from Nam Yeuang hydropower project in a deal signed with Phongsubthavy Group, which is expected to sell electricity to Vietnam from 2024-25.
The second deal will enable EVN to develop 300MW Nam Phan coal-fired power plant which is scheduled to transmit power to Vietnam from 2025.
In another agreement, Kong Sup Hydro Development Company of Nam Neun 1 and Nam Neun 3 will develop 124MW Nam Neun 1 hydropower plant which is expected for export to Vietnam from 2024-2025.
Dr Daovong said Laos has huge potential of hydro, solar and wind to generate power for sales to Vietnam and Cambodia.
Laos currently has 78 hydropower plants with a combined installed capacity of 9,972MW, which greatly exceeds domestic consumption. The power generation is also from a coal-fired power plant, four biomass projects, and six solar farms.
Electricity is one of Laos’ main income sources thanks to sales to Thailand, Vietnam, Cambodia, and Myanmar.
- Nearly 36,000 Vietnamese workers go abroad in Q1 2024
- New Vietnam-Laos trade agreement signed
- Vietnam’s electricity consumption set to hit record high during dry season
- Long-term prospects in Vietnam look promising for European businesses
- Effective macro policies key to achieve 6.5% growth rate
- Hanoi creates 45,600 jobs in Q1, exceeding annual target