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GE helps EVN to increase capabilities of power transmission network
GE Energy Services on Tuesday afternoon signed a memorandum of understanding to collaborate with National Power Transmission Corporation (NPT), a key subsidiary of Electricity of Viet Nam (EVN).
Under the agreement, the two companies will work together to increase Viet Nam's power transmission efficiency and expertise, and reduce the risk of power shortages.
Viet Nam experienced a shortfall of energy last year, and the government expects that demand for power will increase by at least 16 per cent in 2011. NPT is investing up to US$5 billion until 2015 to expand and improve its power transmission capabilities to help the country meet the electricity needs of its rapidly growing economy.
Under the new agreement, GE will be certified as an approved supplier of equipment to NPT, beginning with GE's Multilin protection relays. GE also will establish training workshops to share its global experiences and expertise in the repair and selection of equipment for NPT's transmission activities.
Viet Nam was experiencing booming economic growth, with over 6.8 per cent GDP growth in 2010. To meet the rising power consumption needs across the industrial sector and the public domain, the government was looking not only at increasing its power generation supplies, but at increasing supply efficiency by upgrading its transmission systems, said Nguyen Manh Hung, President and CEO of NPT.
We were willing to work with GE, a technology leader with proven success in developing transmission systems. Our agreement marked a long-term co-operation and collaboration with the common goal of providing Viet Nam with an ample and reliable transmission infrastructure that could support the country's growth, added Hung.
GE had provided some equipment to NPT previously, such as 500 kV capacitors and relays, but this is the first direct collaboration agreement between the two companies that would help Viet Nam increase its competency and capability in power transmission and infrastructure. It marked a commitment by both parties to work together to increase the efficiency of Viet Nam's energy infrastructure, said Ramesh Singaram, Regional General Manager of GE Energy Services Asia Pacific.
Established in July 2008 as part of Viet Nam's energy market reform strategy, NPT was created to manage investment, construction, operation and maintenance of the country's transmission network, which includes 220 kV and 500 kV lines and associated substations.
According to the Asian Development Bank, NPT needs to invest approximately $750 million annually in new transmission assets from 2011 to 2016 to meet the energy demand, which is estimated to grow at 15 per cent per year.
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