Electricity of Vietnam (EVN) mobilised US$2.96 billion in official development assistance and preferential loans for its power projects last year.

The funds were made available by international financial institutions, such as the World Bank (WB), Asian Development Bank (ADB) and Japan International Cooperation Agency. Of the total, $1.76 billion was earmarked for new projects.

EVN said international co-operation contributed significantly to its growth last year, with the WB and ADB supporting the group in studying long-term programmes on finance, management restructuring, renewable energy and infrastructure development. The group has worked with regional electricity companies to research power exchange as well as continued projects within the Greater Mekong Sub-Region (GMS), including the building of a GMS electricity trade centre.

The group also organised working sessions and exchanged experiences on management and business with regional electricity companies and joined international forums such as the ASEAN Ministers on Energy Meeting (AMEM), Heads of ASEAN Power Utilities/Authorities (HAPUA) and Asia-Pacific Economic Co-operation (APEC).

In 2016, EVN generated and purchased 176.99 billion kWh of electricity, a yearly increase of 10.8 percent. Commercial electricity reached 159.45 billion kWh, a year-on-year rise of 11 per cent, surpassing the annual target by 350 million kWh.

The group coordinated with the irrigation sector to provide over 3 billion cubic metres of water for the 2015-16 winter-spring crops in the northern delta while ensuring sufficient water for drought-hit areas in the central and Central Highland regions.

At the end of 2016, 73 power plants were hooked up to the power market, generating 17,929 MW of electricity.

EVN fetched over VND264.6 trillion ($11.7 billion) in revenues last year, up 12.9 per cent against 2015. The group also put into operation the Lai Chau hydropower project in the northern province of Lai Chau last year, one year earlier than scheduled, saving VND5 trillion and ensuring electricity for flood-hit localities. — VNS