Five energy projects suggested for national power plan removal

October 17, 2022 | 11:09

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The Ministry of Industry and Trade (MoIT) has proposed removing five thermal power plant projects from the National Power Development Plan VIII unless investors commit to arranging enough capital.

Five energy projects suggested for national power plan removal

Five thermal power projects could be removed from power planning VIII

In the document submitted to the government on October 13, the MoIT proposed removing the five thermal power projects from the PDP8 because investors are facing difficulties implementing them.

The projects combine four with foreign capital, namely Song Hau 2, Nam Dinh 1, Vinh Tan 3, and Quang Trị 1, while Cong Thanh is funded by a local investor.

On October 7, the Thai Ministry of Energy announced it would stop work on the long-delayed 1,320 MW thermal power.

On October 4-6, the MoIT worked with the investors of these projects to discuss their difficulties. However, all said they were determined to develop projects.

At Quang Tri 1, the investor said it was determined to develop the project. However, on October 7, the Thai Ministry of Energy announced it would stop work on the long-delayed 1,320MW thermal power plant.

The MoIT asked the investors of these projects to prepare a specific commitment from loaners to provide capital for them. The investors must submit these commitments attached with documents to the MoIT before October 30. This is an important basis for keeping these projects in the Power Master Plan.

The five power plants:

- The Vinh Tan 3 thermal power plant invested by Vietnam Electricity, Pacific Group, and OneEnergy Asia Ltd., a partnership of Hong Kong’s CLP Holdings and Japan’s Mitsubishi Group.

- The Nam Dinh 1 thermal power plant invested by a consortium of Saudi Arabian ACWA Power and South Korean Taekwang Power Holdings Co., Ltd.

- The Quang Tri 1 thermal power plant invested by EGAT International Co., Ltd.

- The $3.5 billion Song Hau Coal-fired power plant II invested by Toyo Ink Group.

- The Cong Thanh thermal power plant invested by the Cong Thanh Thermal Power JSC.

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By Oanh Nguyen

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