Ta Co Hydropower Plant

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Bac Minh Development Investment JSC, a private entity, was planning the development of the 30 MW Ta Co Hydropower Plant, in the Sop Cop district, Son La province, Northern Vietnam. The plant was designed to consist of 2 turbines of 15 MW each, run-of-river with a small reservoir covering 0.21 km2. The plant was to be connected to a 110 kV transmission line that was to be constructed, towards the existing Son La -Song Ma subtransformer station located 12 kilometer from the site. Annual output was expected to be 121.175 GWh, to be supplied to the Vietnam National Power Grid. The load factor was expected to be 46.82%. The trubines used were Francis vertical turbines (15.56 MW)The emission factor applied in the CDM application was 0.5774 tCO2/MWh - as published by DNA Viet Nam. IRR was expected to be 12.75% (real), and 21.49% nominal (at 7.75% inflation). The first EPC contract was signed in March 2010, for the waterway. EIA was done in March 2008. Construction permit was received in August 2009. The project has signed a PPA with EVN in December 2009 under the following laws: Decision No.18/2008/QD-BCT of the Minister of Industry and Trade on power tariff in PPAs for power plants smaller than or equal to 30 MW using renewable energy. Financial closure date was unknown but estimated here at March 2010 (signing EPC contract). Commissioning was expected for 2013. Total project cost was estimated at VND 696.949 billion ($33.5 million). O&M was estimated at 1.5% of construction cost. Project life was expected to be 30 years, and 3 years for construction. The expected power tariff was 797.8 VND/kWh (net), or $0.0383 per kWh. The debt/equity ratio was 70/30. The USD-debt was expected to be financed by Loan ArgiBank at 5%, the VND-debt was expected to be financed by Viet Nam Development Bank, at 6.9%. The project applied for UNFCCC/CDM financing. http://cdm.unfccc.int/Projects/Validation/DB/C7VPFJCZ7XZCUAABPTJFW164TUD11B/view.html Debt size estimated based on Debt/Equity ratio. Agribank was a state-owned bank. All info was in CDM/PDD