70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
Vietnam likely to buy 3,000MW electricity from Laos by 2025
Linh Pham 05:24, 2020/12/11
Vietnam purchases power from energy plants developed by Lao and Vietnamese investors.

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 

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.

TAG: Vietnam buy electricity Lao EVN Inter-governmental committee Vientiane
Other news
18:03, 2024/05/27
Online payments for public services soar
It's reported that the method of paying for online public services through mobile money accounts will be expanded to increase convenience, simplicity and speed.
15:02, 2024/05/27
Prime Minister urges diversification of power sources
The priority is to ensure that there is no electricity shortfall under any circumstances.
18:43, 2024/05/24
Gov’t approves Hanoi’s US$118-million industrial park project
The project will prioritize attracting investment in high-tech and clean industries, in line with Hanoi's new development orientation and the development direction of the industrial sectors in the Red River Delta.
15:29, 2024/05/24
High-demand overseas jobs in Vietnam
Vietnam is expected to send about 125,000 workers on contract to foreign countries this year.
22:30, 2024/05/23
Vietnam's outbound travel buzz soars this summer
Vietnam's outbound tourism continues to show positive growth even in the face of current economic challenges.
20:25, 2024/05/23
New initiative to boost Vietnam's e-commerce exports
The program is designed to enhance the cross-border e-commerce capabilities of leading export-oriented industries in partnership with key industry associations.