EVN signs 4.46 trillion VND contract for Bac Ai pumped storage hydropower project

Vietnam Electricity (EVN) has signed a contract worth over 4.462 trillion VND with a consortium consisting of Voith Hydro Shanghai and Powerchina Zhongnan to supply electromechanical equipment for the Bac Ai pumped storage hydropower project in Khanh Hoa province.

As Vietnam’s first pumped storage hydropower project, Bac Ai is designed with four units providing a total capacity of 1,200MW. The project is a key component of the national power development plan for 2021–2030. The contract includes a 51-month implementation period, with the first unit expected to begin generating electricity by late 2029.

The project is funded through a combination of equity and loans arranged by EVN from the German Reconstruct Bank and the European Investment Bank. Once operational, the facility will help stabilize the national power grid by absorbing excess capacity during off-peak hours and providing power during peak demand.