Fri , 15/05/2020, 10:58:32 (GMT+7)
On May 6, 2020, Northern Electricity Development and Investment Joint Stock Company No. 2 (NEDI2) held the inauguration ceremony of the expanded Ngoi Phat hydropower plant, with the plant's capacity increasing to 84MW, annual electricity output of about 400 million kWh.
Having experience in the management and construction of energy projects such as Cua Dat HP, Buon Kuop HP, Srepok3 HP, Pha Lai II Thermal Power Plant, Ban Chat HP, Buon Tua Srah HP, Ngoi Phat HP, etc. the leaders of Vinaconex Corporation and NEDI2 jointly researched to increase the capacity of Ngoi Phat hydropower plant from 72MW to 84MW that was approved by the Ministry of Industry and Trade, and the People's Committee of Lao Cai province.
On February 15, 2019, Vinaconex Corporation signed a general contractor contract with NEDI2 for the expanded Ngoi Phat hydropower plant. After 14 months of active implementation, the Ngoi Phat Hydropower Plant has completed the expansion and boosted capacity from 72MW to 84MW, generating an annual electricity output of about 400 million kWh. The applied technology in the plant is provided by Flovel Energy Pvt. Ltd - a reliable partner in the international energy industry. The successful operation of the expanded Ngoi Phat Hydropower Plant will pave the way for future study into maximizing the potential and existing facilities of current hydropower plants.
According to Mr. Nguyen Xuan Dong, General Director of Vinaconex Corporation and Chairman of the Board of Directors of NEDI2, Ngoi Phat Hydropower Plant is one of several hydropower projects directly invested and implemented by Vinaconex. In order to generate stable and sustainable value to the Corporation and effectively contribute to the country's construction and socio-economic development, Vinaconex's strategy identifies energy as top priority area for development, in addition to the two key areas of construction and real estate.
In his remarks at the ceremony, Mr. Ung Hong Van, General Director of NEDI2, stated that the Ngoi Phat Hydropower Plant Expansion demonstrates that Vinaconex and NEDI2 have mastered the building and operation of professional hydropower systems. According to Vinaconex Corporation's strategy, NEDI2 will grow into a leading enterprise in the energy sector. The annual revenue of NEDI 2 is around VND 400 billion VND, the profit after tax is approximately VND 132 billion VND per year, and the dividend rate is about 20%/year, all of them bring about practical benefits to the government and shareholders.
Being found on May 6, 2004, NEDI2 has Vinaconex Corporation as the largest shareholders holding 73.24% of the shares. Although construction projects were affected by the Covid-19 pandemic, that Expanded Ngoi Phat Hydropower Plant inaugurated as scheduled right on the 16th anniversary of the establishment of Northern Electricity Development and Investment Joint Stock Company No. 2 (May 6, 2004 - May 6, 2020) demonstrates the initiative and adaptability NEDI2 and Vinaconex in major projects that demand complex construction and operation techniques. Attending the event, Mr. Vivek Saxena - Vice President of Flovel Energy Pvt. Ltd informed that they deployed all their available resources including sending senior international experts to provide online support for the project implementation regardless of the obstacles that the Covid-19 pandemic may cause as he finds the determination of the Project’s General Contractor and Investor. He highly appreciated Vinaconex and NEDI2's capacities in carrying out major hydropower projects across the country. According to Flovel Energy Pvt. Ltd., the hydropower industry always demands a high level of technical survey, evaluation, and quality to ensure complete safety for the project, and Vinaconex and NEDI2 are among the few large enterprises that are guaranteed this qualification. |
Some photos of the Project:
