Vietnam Electricity (EVN) and the Voith Hydro Shanghai and Powerchina Zhongnan Consortium (comprising two members: Voith Hydro Shanghai Ltd. and Powerchina Zhongnan Engineering Corporation Limited) on October 26 held in Hanoi a signing ceremony for Package No. 01TB-BA: Provision of Electromechanical Equipment for the Bac Ai Pumped-Storage Hydropower Project in Vietnam's south central Khanh Hoa Province.
Package No. 01TB-BA is the main equipment and materials procurement package of the project, conducted through an open international competitive bidding process. The contractor selection was carried out in strict compliance with state bidding regulations and aligned with the requirements of international lending institutions. The qualified and experienced consortium awarded the contract is the Voith Hydro Shanghai and Powerchina Zhongnan Consortium, with a contract value of over VND4.462 trillion (nearly $173 million) and an execution period of 51 months, ensuring adherence to the project’s overall timeline.
The Bac Ai Pumped-Storage Hydropower Project in Khanh Hoa Province is Vietnam's first pumped-storage hydropower development, incorporated into the National Power Development Plan for the 2021–2030 period with a vision to 2050.
EVN's Board of Directors approved the investment project with a capacity of 1,200 MW across four generating units. Financing for the project is sourced from EVN’s equity and arranged loans from the German Reconstruction Credit Bank (KfW) and the European Investment Bank (EIB).
Once operational, the project will serve as a peaking power source on the national power system's load curve. It will help flatten peak-to-trough demand fluctuations by pumping water to store energy during off-peak hours, generating power during peak demand periods, and providing frequency regulation and reactive power compensation for the grid.
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