Vietnam Electricity (EVN) signed various Memorandums of Understanding (MoU) on Sunday with investors of power projects in Laos to develop and purchase electricity from the neighbouring country.

The signing of the deals took place during the 43rd meeting of the Vietnam-Laos Inter-Governmental Committee on bilateral cooperation.

In the deals with Phongsubthavy Group, EVN will cooperate to develop 84 MW Nam Yeuang hydropower project, which will sell electricity to Viet Nam from 2024-2025, and develop 300 MW Nam Phan coal-fired thermal power plant, which is expected to export power to Viet Nam from 2025.

Besides, EVN will work with Kong Sup Hydro Development of Nam Neun 1 and Nam Neun 3 to develop 124 MW Nam Neun 1 hydropower plant, which will sell power to Viet Nam from 2024-2025.

In the future, both sides will promote negotiations on power purchase agreements in line with Viet Nam's Ministry of Industry and Trade’s guidelines.

The signing of the MoU on power plant development is a milestone in the friendship between the two nations, especially in the field of energy.

Importing electricity from neighbouring countries, including Laos, is one of the measures Viet Nam has taken to meet electricity demand for socio-economic development. — VNA