Balancing the national grid system, promoting socio-economic development

"We say there is no shortage of electricity and we will do it"

Speaking at the main bridge - Pho Noi 500kV Transformer Station (Hung Yen) during the inauguration ceremony of the Quang Trach - Pho Noi 500kV Line 3 on August 29, Politburo member and Prime Minister Pham Minh Chinh affirmed that the completion of the project is of special importance to the energy security of the whole country. In particular, the project will contribute to increasing the confidence of foreign investors in the Government's commitments.

"We say there will be no shortage of electricity and we will do it," said the Prime Minister, adding that the completion of this project will help attract investors in new fields such as semiconductors and digital transformation.

According to the Prime Minister, in recent times, the North has experienced localized power shortages, affecting people's lives and attracting foreign investment. Learning from experience, since June 2023, the Government has issued many directives to ensure electricity supply to the North, preventing power shortages under any circumstances.

"The target was set to be completed in 6 months, many stages seemed impossible to complete, with many difficulties and challenges" - said the Prime Minister. However, according to the Prime Minister, thanks to the participation of ministries, localities, people, businesses, and banks, many items of the project were completed "at lightning speed".

The 500kV Line 3 Quang Trach - Pho Noi project is a large-scale project, with a total length of 519km, 2 circuits with 1,177 pole locations, and a total investment of more than 22,300 billion VND (nearly 1 billion USD). When completed, the project will carry a very important historical mission, which is to contribute to ensuring electricity supply for the North, which is facing the risk of power shortage. Electricity from the South and Central regions will "support" the North thanks to a transmission line with an investment scale of more than 22,300 billion VND, thanks to increasing the transmission capacity to the North from 2,500 MW to 5,000 MW.

The project helps improve the stability of the power system operation, increasing power supply to the North in 2025 and the following years. At the same time, the project helps reduce the risk of overloading and overloading of existing 500kV lines and stations, contributing to ensuring national energy security.

Promote clean energy development, boost economic growth

Evaluating this special project, National Assembly Delegate Tran Van Lam - Standing Member of the National Assembly's Finance and Budget Committee said that currently, the distribution of electricity sources to regions in our country is not really even and not suitable for the needs. Therefore, the issue of transmission to bring energy from the place of production to the place of consumption must be raised. Especially in the current context, our energy sources are very diverse, each region will have some advantages to develop different energy sources.

"Therefore, the completion of the 500kV Line 3 Project is of particular importance for stabilizing the national grid in the context of renewable energy development, meeting the requirements of efficient energy use for green development of COP 26. The project will contribute to completing the national grid infrastructure, while connecting power sources to regions in need. It is especially important in transporting electricity from the surplus southern region to the rapidly developing industrial zones in the North, where the demand for electricity consumption is very high. And when necessary, electricity can be transmitted from the North to stabilize the national grid system," said Mr. Lam.

Speaking to Lao Dong Newspaper, Dr. Chau Dinh Linh - lecturer at Ho Chi Minh City Banking University - said that the inauguration of the 500kV Line 3 marks an important step forward in Vietnam's energy security, creating a solid foundation for sustainable economic development. In the context that every business needs electricity to maintain operations and production, the completion of this line is like Vietnam owning an airplane to help the economy take off. The 500kV Line 3 not only plays a role in transmitting electricity effectively but also ensures energy security for the whole country, in the context of increasing energy demand.

The construction of this transmission line plays an extremely important role in connecting different energy sources from the South to the North. In particular, with renewable energy sources such as wind power and solar power being strongly developed, the 500kV Line 3 will facilitate the transmission of energy from high potential areas to large consumption areas, such as large cities and industrial zones. This helps to increase the efficiency of power use and minimize power shortages, contributing to ensuring stability in the production and business activities of enterprises.

Furthermore, the inauguration of this line also has a deeper economic significance, as it creates many new development opportunities for various industries. With a stronger energy transmission system, businesses can expand their production scale, enhance their competitiveness and thereby create more jobs for the people. The synchronous development of energy infrastructure not only promotes economic growth but also contributes to improving the quality of life of the people.

In addition, the 500kV Circuit 3 Line also demonstrates the Government's commitment to sustainable development and environmental protection.