Vietnam EVN has $278 million in loans to expand hydroelectric power

(Engine Daily) Nguyen Anh Duong = Vietnam is responding to the growing demand for electricity.

According to local sources, the Vietnamese government announced its official position that state-run power company EVN will prepare a loan to expand its hydroelectric power plant near Hanoi.

The hydropower plant, where expansion is prepared, aims to expand its power generation capacity to 2.4 GW from the current 480 MW to the Hoa Binh power plant.

The Vietnamese government plans to secure about $278 million in loans and plans to begin construction in 2020 and complete by 2030.

Meanwhile, in July, Vietnam's industry ministry also announced its findings that it may suffer a serious power shortage from 2021, as electricity demand in Vietnam is currently outpacing production.