Phu My 2.2 marks 20 years of operations

With two decades of operations, Phu My 2.2 has left a mark in the history of Vietnam's energy sector

Supported by EDF (France), Sumitomo Corporation (Japan), and JERA (Japan), and operated by Mekong Energy Co., Ltd., the Phu My 2.2 Combined Cycle Gas Project has a place in the history of Vietnam's energy sector as the first Build-Operate-Transfer (BOT) project awarded through international tender fully funded by foreign investors.

This $400 million investment was financed at 25 per cent by shareholders and at 75 per cent by lenders including the Japan Bank for International Cooperation, the Asian Development Bank, and Société de Promotion et de Participation pour le Coopération Economique.

This project addressed several major interests for Vietnam. First, it reinforced southern Vietnam’s generation capacity in the context of rapid economic growth. Second, it used natural gas from the Nam Con Son gas field located off the coast of the city of Vung Tau, contributing to the country’s energy independence. Third, it was based on combined cycle gas technology, a cutting-edge technology featuring greater efficiency and lower greenhouse gas emissions than coal-fired power plants.

Phu My 2.2 is located in the Phu My Thermal Power Plant Complex, 70 km southeast of Ho Chi Minh City in Phu My District, Ba Ria Vung Tau province. This strategic site for the national grid now features six Combined Cycle Gas Turbine Power Plants, representing 8 per cent of Vietnam’s total generation capacity as of 2023.

After 30 months of construction, this 715 MW Combined Cycle Power Plant, equipped with two General Electric 9FAe class F Gas Turbines and one General Electric class D11 Steam Turbine, started commercial operations in February 2005.

Representing up to 8 per cent of national electricity production in its initial years of operation and with 91 TWh generated over the last 20 years, Phu My 2.2 successfully fulfilled the mission entrusted to it by the Vietnamese authorities of providing available, flexible, and reliable electricity to the national grid.

Furthermore, Mekong Energy embodied the values of its shareholders. Priority was given to health and safety from day one. The company not only developed a strong health and safety culture which effectively protected staff in their daily activities, but also built with its industrial partners a true health and safety community. Thanks to this commitment, Mekong Energy achieved more than 13 consecutive years without a staff accident and more than 2 million consecutive worked hours for industrial partners. It also received the most prestigious award for Priority in Safety from JERA in 2023.

In addition, teams led a continuous quest for technical excellence. Supported by industrial partners and backed by EDF and JERA’s expertise, Mekong Energy's teams have achieved a high level of technical performance with remarkable availability, efficiency, and reliability. This pursuit of technical excellence remained intact over the years, with seven technical records broken in 2022 and 2023, and was awarded a Certificate of Merit from Vietnam Electricity (EVN).

Mekong Energy was awarded a Certificate of Merit by Vietnam Electricity (EVN) for the operation and maintenance of Phu My 2.2

Social commitment was a key feature of the project. Mekong Energy demonstrated a genuine social commitment with high social standards, contributing to a strong bond between employees and the company. Externally, this social commitment was reflected in 54 Corporate Social Responsibility actions, particularly in children's education.

Long-awaited transfer on horizon

On February 4, 2025, Phu My 2.2 will be transferred to the Vietnamese authorities and EVN, who will go on to operate it.

Mekong Energy will transfer Phu My 2.2 to EVN in February 2025

Pursuant to the BOT contract, Mekong Energy will transfer the Combined Cycle Gas power plant after 20 years of operations to the Vietnamese authorities, who appointed EVN to operate it.

This transfer was anticipated and prepared for with care by Mekong Energy over many years. From the first day of operations to the last, the company has implemented a demanding maintenance policy, ensuring industrial safety while keeping equipment in perfect running condition.

EVN was closely associated with the last major inspections of the equipment in 2023 and 2024, with teams working alongside Mekong Energy teams to supervise the activities. Several weeks of on-the-job training within the Mekong Energy operation & maintenance teams were planned for EVN teams to facilitate their future takeover.

Finally, part of 70 Mekong Energy Staff members will be recruited by EVN to operate the plant in the future. For all employees who will not stay at Phu My 2.2, the company implemented an ambitious programme to support them in their career transition.

This smooth handover to EVN, a trusted long-term partner of Mekong Energy to whom the company wishes the best for the future, will mark the end of a remarkable and successful project initiated by EDF, Sumitomo Corporation, and JERA at the service of Vietnam.

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