EVNCHP Pursuing Persistent Mission of Developing Renewable Energy Sources

After 16 years of development, with the construction and commercial operation of A Luoi Hydropower Plant and Cu Jut Solar Power Plant, EVNCHP has transformed water and sunlight into electricity to serve the country's industrialization and modernization and help ensure national energy security.

Imprints on two key projects

One of the great achievements of EVNCHP is the completed investment and construction of 1,700-MW A Luoi Hydropower Plant (based in A Luoi district - Thua Thien Hue province), costing over VND3,500 billion. Construction on the plant was started on June 30, 2007 and it officially generated commercial electricity on May 20, 2012 with an average annual output of 649 million kWh of electricity. This has helped promote local industrial and service development and improve local people’s livelihoods.

Following the success of A Luoi Hydropower Plant, EVNCHP invested in building 50-MWAC Cu Jut Solar Farm (Cu Jut district - Dak Nong province) with a total investment fund of over VND1,367 billion. Deployed on an area of more than 62ha, installed with 187,890 solar panels, the facility generates an average of 94.71 million kWh of electricity a year. Sharing about investment motivation for Cu Jut Solar Farm, EVNCHP General Director Truong Cong Gioi said, given that fossil energy sources such as coal and oil are gradually depleted, the shift to renewable energy sources generated by sunlight, wind and water has become the most optimal and sustainable solution, not only helping make the most of endless natural resources, reduce greenhouse effects and protect the living environment, but also bringing great economic value to the country's energy industry and ensure national energy security.

After a long survey, EVNCHP found that Dak Nong province possessed much potential and advantages for developing renewable energy sources. Moreover, the provincial government and the power industry also introduced a lot of incentive policies to encourage businesses and investors to develop renewable solar and hydro energies. This prompted EVNCHP to boldly invest in construction of Cu Jut Solar Farm. After 10 months, the facility was officially put into commercial operation on April 20, 2019, up to 70 days ahead of deadline. The operation of the Cu Jut Solar Farm not only helps increase the local merchant power supply, but also helps stabilize the power voltage and the power grid of Dak Nong province and the country in general, thus enabling economic restructuring, employment for workers and socioeconomic development.

Prioritized investment for renewable energy development

To achieve the current success, right since the very first days of operation, EVNCHP has always regarded people as an invaluable property, a decisive factor for the success or failure of the company. On that basis, EVNCHP always ensures good material and spiritual lives for employees; builds a safe and scientific working environment, creates all favorable conditions for employees to feel secure to work and devoted to the company, while motivating all employees to uphold the sense of responsibility, the strength of solidarity, dynamism and creativity, ensuring safe and efficient operation of the plant. In addition to promoting the strength of human resources, EVNCHP leaders also actively research and apply quality management systems and productivity improvement tools to manage and operate A Luoi Hydropower Plant and Cu Jut Solar Farm effectively to fulfil all business plans. In the first nine months of 2020, the output of A Luoi Hydropower Plant reached 235 million kWh of electricity, 39 million kWh higher than the planned output to earn revenue of VND252 billion, about VND50 billion higher than the plan. Particularly, the output of Cu Jut Solar Farm reached 75 million kWh, making revenue of VND163 billion. Compared to the first nine months of 2019, the solar power plant worked more than 3.5 months longer in 2020, resulting in much higher output and revenue growth (up 203% and 205%, respectively).

General Director Truong Cong Gioi said hydropower and solar power are clean, renewable energy sources, friendly to the environment. Importantly, developing these renewable energy sources results in huge economic, energy and environmental benefits. In that sense, in the coming time, EVNCHP will focus more investment for developing renewable energy and clean energy projects toward sustainable development, community responsibility and environmental protection, best serving requirements of socioeconomic development, national defense and security and people's livelihoods, and practically supporting national industrialization and modernization and global integration of the country. In the near future, the company will study and propose additional planning documents for Cu Jut 2 Solar Farm (installed capacity of 30 MWp, output of 45,700 MWh of electricity a year) and Cu Jut 3 Solar Farm (installed capacity of 45 MWp, output of 68,600 MWh of electricity a year). Currently, planning documents are submitted to the Dak Nong Provincial People's Committee and the Dak Nong Department of Industry and Trade for consideration and addition to the National Electricity Development Plan in the 2021-2030 period, with a vision to 2045 (Electricity Planning VIII).n

Box: Central Hydropower Joint Stock Company (EVNCHP) was established in 2004 by several main shareholders: Southern Power Corporation, Central Power Corporation, Hanoi Electricity Corporation and Electricity of Vietnam Group (EVN). From 2013 to date, its major shareholders include Southern Power Corporation, Central Power Corporation, REE Corporation and common shareholders.

By Thanh Tung, Vietnam Business Forum