AES Gets Approval for Vietnam CCGT
New York-listed AES Corporation has been granted approval by the government of Vietnam to develop a 2.2 GW combined cycle gas turbine (CCGT) power plant, which will be located in the south-central province of Binh Thuan, the company said September 30.
The Son My 2 plant will have a 20-year contract with the government of Vietnam and is expected to achieve financial close in 2021 and begin commercial operations in 2024. “Son My 2 complements AES’ investment plans in gas infrastructure in the country with its previously announced 450 trillion Btu Son My LNG terminal, which received approval from the government of Vietnam in August 2019,” the company said.
AES expects the plant and terminal to play a major role “in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG as well as meeting the country’s increasing demand for sustainable and affordable electricity.”
“This approval represents a significant milestone in the development of the CCGT plant and the LNG terminal, enabling the company to move forward with the necessary permitting and associated project agreements,” AES said.