Vietnam seeking investors for 4.500MW gas-fired power projects

While a series of gas-fired power projects planned in both Power Plans VII and VIII are showing signs of slowing down, possibly affecting energy security goals, Vietnam has not yet had investors for 4.500MW gas-fired power projects.

Vietnam seeks investors for gas-fired power projects

This was heard at yesterday’s face-to-face and online meeting between the Ministry of Industry and Trade and localities, investors who are interested in thermal power projects using natural gas and liquefied natural gas (LNG) chaired by Minister of Industry and Trade Nguyen Hong Dien.

According to the Minister of Industry and Trade, the slowdown of a series of gas-fired power projects, possibly affecting energy security goals.

At the meeting, relevant units reported that these gas thermal power projects belong to the list of key investment projects according to the implementation plan of Electricity Planning VIII developed by the Ministry of Industry and Trade and approved by the Prime Minister. However, up to now, most of the gas power projects are in the process of investment preparation without significant changes.

In particular, Director To Xuan Bao of the Department of Electricity and Renewable Energy said that up to now, investors of three gas power projects Ca Na, Nghi Son and Quynh Lap with a total capacity of 4,500MW have not yet been selected.

The Ministry of Industry and Trade also said that feasibility study reports of some other gas thermal power projects such as Hai Lang Phase 1, Quang Ninh have not yet been completed while power purchase agreement (PPA) negotiations of Bac Lieu, Hiep Phuoc Phase 1, O Mon 2 LNG projects have not yet carried out. Long An I and II projects have not yet completed investment policy adjustments and feasibility studies have not been approved. As for the two projects BOT Son My I and BOT Son My II, the investor has not yet completed the feasibility study according to the present regulations.

Addressing the meeting, Minister Nguyen Hong Dien said that power projects using gas and LNG are of special importance because they are a base power source and have low carbon emissions. Recently, the Ministry of Industry and Trade has actively directed the implementation of these projects because several projects of the 21 projects have got stuck. The Ministry of Industry and Trade has worked many times with local administration and investors to remove bottlenecks.

However, most projects are behind schedule. If this continues to happen, it will greatly affect energy security and the Power Plan VIII can’t be complete. The Minister of Industry and Trade has classified projects of provinces and cities into stages such as the selection of the investor and the middle of implementation so that the Ministry will have specific and detailed instructions on progress in the near future.

Representatives of the Authority of Electricity and Renewable Energy, the Department of Electricity Regulation, the Department of Local Industry and Trade, the Department of Petroleum and Coal, the Department of Energy Efficiency and Sustainable Development, the Department of Legal Affairs, and the Commission for the Management of State Capital at Enterprises (CMSC), Vietnam Electricity (EVN), Vietnam Oil and Gas Group (PVN) and 15 related provinces and cities were attending this meeting.

Other news