TRUNG NAM'S POWER - THUAN NAM SOLAR POWER FACTORY 450MW IS STILL MODIFIED!

03/05/2022 17:19

The Electricity Trading Company (EPTC) issued Document No. 897/EPTC-KDMD+GDTT on February 22, 2022, announcing that EVN will cease exploiting unused capacity on March 5, 2022, at 0:00. Trung Nam - Thuan Nam Solar Power Plant 450Mw with 500Kv substation has an electricity selling price mechanism. However, the understanding and companionship of EVN, the plant's capacity have continued to be mobilized up to this point.

Trung Nam - Thuan Nam 450Mw Solar Power Plant combined with 500Kv substation is a conditional investment plant with a total construction cost of VND 12,000 billion. They are building additional transmission lines and substations of 500 kV with about VND 2,000 billion total costs. It has been officially put into synchronous operation since October 1, 2020, bringing efficiency and making a significant contribution to the national power system, particularly in solving the overvoltage problem. It contributes to the realization of the Government's Resolution 115/NQ-CP on implementing several specific policies and mechanisms to support the socio-economic development of Ninh Thuan province. However, the project has not yet guaranteed revenue because a portion of the plant's capacity has not yet been determined on the electricity selling price mechanism. The stopped ability of the Trung Nam - Thuan Nam solar power plant is 172.12 MW, which is equivalent to 40% of the factory's capacity and has a significant impact on loan repayment, according to the project's financial plan.

This is also a problem which Trungnam Group has proposed a solution to EVN and the Ministry of Industry and Trade.

The Electricity Trading Company (EPTC) issued a written notice of the temporary non-implementation of Document No. 897/EPTC-KDMD+GDTT issued on February 22, 2022, on the afternoon of March 4, 2022. As a result, continue recording and mobilizing the project's remaining capacity.

"This step demonstrates the understanding and sharing of agencies and sectors for private enterprises in the energy sector. It will also provide an opportunity for the parties to sit down and work out a reasonable solution". It is reasonable, especially given the short time frame, to issue a specific electricity price frame for businesses experiencing difficulties," said Mr. Nguyen Tam Tien, General Director of Trungnam Group.