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The Bac Ai Pumped Storage Hydropower Plant in Khanh Hoa province, Vietnam, started construction in February 2025 with a total investment of approximately VND21 trillion ($814 million). The project aims to begin power generation of its first unit by December 2029 and achieve full commercial operation by December 2030.

Recent progress includes the completion of access roads, excavation for major works, and the construction of electrical and ventilation tunnels, all in line with the project schedule. By 2025, site leveling for the 500kV distribution substation exceeded its annual target, with 145,000m³ completed.

Additionally, 28 out of 32 contractor packages have been finalized, and land clearance for 106 ha has been achieved, facilitating continued construction. In terms of financials, total disbursement in 2025 reached approximately $16.8 million, exceeding the planned $16.6 million.