Vietnam Plans Four Gas-Fired Power Plants
PetroVietnam Power Corp (PV Power), a subsidiary of state-run PetroVietnam, is planning to build four new gas-based power plants, the company said during the annual general meeting of shareholders on June 12.
The four projects are Nhon Trach 3, Nhon Trach 4, Mien Trung 1, and Mien Trung 2. According to PV Power, Nhon Trach 3 and Nhon Trach 4 will have a capacity of 1.5 GW each and will be located in Dong Nai provonce’s Nhon Trach district. The two plants are expected to come online early next year, requiring an estimated investment of over dong 32.48 trillion ($1.39bn). According to local media reports, PV Power signed a letter of authorisation in February with its foreign partners – Citibank and Ingbank – to arrange capital for the project.
Meanwhile, Mien Trung 1, and Mien Trung 2 projects will be located in Quang Nam province’s Nui Thanh district and will have a capacity of 750 MW each.
Vietnam is promoting gas-fired power as it moves away from coal and oil-based generation. Last week, the Vietnamese government said US major ExxonMobil is looking to invest in gas-to-power projects in the southeast Asian nation.