On October 25, 2023, in Lai Chau City, Hpl Power Investment Joint Stock Company – a member of Kosy Group signed a facility agreement for the Ta Pao Ho 1A & 1B Hydropower project cluster with Agribank Lai Chau. The total value of the agreement is VND 587 billion.

The contract signing with Agribank marked an important step forward, continuing to affirm Kosy’s capacity and credibility with partners, ensuring financial resources for the project to be successfully implemented according to the plan to complete the Ta Pao Ho 1A & 1B Hydropower project cluster and connect to the national grid by June 30, 2025.

Mr. Luong Quoc Hung, Deputy General Director of Kosy Group and General Director of HPL Hydropower Investment Joint Stock Company (member of Kosy Group), and Mr. Pham Dinh Kinh, Director of Agribank Lai Chau signed the facility agreement.

The Ta Pao Ho 1A and Ta Pao Ho 1B Hydropower Project Cluster has a capacity of 24 MW, with a total investment of VND 911 billion, and is 2 out of 8 hydropower projects being invested by Kosy Group, including Ta Pao Ho 1A, Ta Pao Ho 1B, Pa Vay Su 1, Pa Vay Su 2 in Phong Tho District, Lai Chau and Muong Tung hydropower project, Nam He Thuong 1, Nam He Thuong 2, Nam He Ha in Muong Cha District and Muong Lay Town, Dien Bien. The total capacity of these 8 hydropower plants reaches over 90 MW with a total investment of about VND 3,500 billion. The goal is that the Muong Tung hydropower plant will start generating electricity in August 2024, and the remaining plants will be completed and connected to the national grid by June 30, 2025.

The Ta Pao Ho 1A & 1B Hydropower project cluster is built on adjacent terraces, of which the Ta Pao Ho 1A hydropower plant is in the upstream area, and the Ta Pao Ho 1B hydropower plant is downstream. The project cluster is about 90 km from Lai Chau City center, exploiting hydropower sources in the Ta Pao Ho stream basin of Si Lo Lau and Mo Si San Communes, Phong Tho District, Lai Chau Province. The Ta Pao Ho 1A hydropower project operates in a structure type consisting of one main weir and three auxiliary dams to collect water. The total length of the water tunnels is 4.2 km, of which the main pressure tunnel is about 2 km long, with a design head of 281.71 m. The plant uses 2 vertical Pelton turbines with an installed capacity of 13.5 MW. The Ta Pao Ho 1B hydropower project includes 01 weir to create a regulating reservoir, a 2.2 km pressure tunnel going deep into the mountain, with a design head of 163.70 m. The plant uses 2 horizontal Francis turbine units with an installed capacity of 10.5 MW.

Mr. Nguyen Viet Cuong – Chairman of Kosy Group spoke at the signing ceremony

Speaking at the signing ceremony, Mr. Nguyen Viet Cuong – Chairman of Kosy Group shared: “Agribank is a strategic financial partner of Kosy Group. Agribank has successfully cooperated with Kosy Group in the Nam Pac 1 and Nam Pac 2 Hydropower project cluster – capacity of 34 MW in Lai Chau with a credit capital of VND 730 billion and the Kosy Bac Lieu Wind Power project – capacity of 40.5 MW with amount of VND 1,000 billion. Currently, these power plants are connected to the national power grid and are bringing a stable source of revenue to Kosy Group. In addition, Kosy is completing procedures to cooperate with Agribank in the Pa Vay Su 1, Pa Vay Su 2, Nam He Thuong 1, and Nam He Thuong 2 Hydropower projects with about VND 1,100 billion in financing, scheduled to be signed in the near future. This affirms the sustainable cooperation between Kosy Group and Agribank, which is a solid foundation to promote the business strengths of both parties now and in the future.

The Ta Pao Ho 1A and 1B project cluster was launched with the main task of generating electricity for the national grid, creating stable and long-term jobs for about 60 operations staff who are indigenous ethnic people. With an average annual electricity output of about 81.32 million kWh and a revenue of about VND 105 billion, the project cluster will contribute tens of billions of VND to Lai Chau province’s budget revenue each year through taxes and fees according to current regulations, significantly contributing to the economic and social development of the province.

During its construction, the Ta Pao Ho 1A & 1B Hydropower Project Cluster will improve about 40 km of local inter-commune roads. The project will have the participation of 300 workers. After going into operation, it is expected to bring stable jobs to about 60 operations staff who belong to indigenous ethnic groups for 50 years.

 “With key projects of Kosy Group being the result of our successful cooperation, Agribank Lai Chau highly appreciates the strategic vision, potential, and implementation capacity of Kosy Group on the journey of development. We believe that the Ta Pao Ho 1A & 1B Hydropower project cluster will definitely be the next achievement of Kosy, marking another successful cooperation between Kosy Group and Agribank”, shared Mr. Pham Dinh Kinh, Director of Agribank Lai Chau.

Representatives of the Board of Directors of Kosy Group and the Board of Directors of Agribank Lai Chau congratulated on the success of the signing ceremony

Kosy Group operates in two main areas: real estate and renewable energy. In the field of real estate, Kosy Group has been the investor of multiple urban real estate projects in provinces such as Lao Cai, Bac Giang, Thai Nguyen, Ha Nam, Ninh Binh, Quang Binh…, and other larger-scale projects soon to be implemented in provinces such as Ha Tinh, Long An, Phu Tho, Bac Lieu, Ca Mau, Tuyen Quang, Kon Tum… These projects all have a large total investment, are located in dynamic economic regions, and are expected to bring great value to the Kosy Group.

In the field of renewable energy, in October 2021, Kosy Group put the Kosy Bac Lieu Wind Power Plant (40.5 MW) into operation. At the end of 2021, two hydropower plants Nam Pac 1&2 (34 MW) also officially connected to the national power grid. Currently, Kosy Group is constructing 3 hydropower project clusters of Muong Tung, Ta Pao Ho, and Pa Vay Su in Dien Bien and Lai Chau with a total capacity of over 90 MW. In the coming time, Kosy Group aims to continue implementing onshore wind power, offshore wind power, solar power, and a number of storage hydropower projects…