14TH NATIONAL CONGRESS OF THE COMMUNIST PARTY OF VIETNAM

US power company keen on investing gas-fired power project in Vietnam

Trung Kien

Sep 15, 2017 / 07:27 PM

The US-based power company AES Corporation said it wants to join the PetroVietnam Gas JSC (PV Gas) in the Son My 2 gas-fired thermal power project.

The proposal was made by President of AES Vietnam David Stone during a recent working session with PetroVietnam group.

PetroVietnam deputy director general Nguyen Hung Dung affirmed that the group is ready to work with US investors, including AES, in the oil and gas sector, especially gas-fired thermal power projects.

The Son My 2 is one of the nine gas-fuelled power projects that the Government has assigned PetroVietnam to invest in. The project consists of three power plants using liquefied natural gas, with designed capacity of 750 MW each. Built at the Son My industry-services-gas complex in the central coastal province of Binh Thuan, the facilities are set to become operational in 2023, 2024 and 2025.

The AES, which is listed in the US Fortune-200, joined shareholders from subsidiaries of Posco Energy Corporation from the Republic of Korea and China Investment Corporation to form the AES-VCM Mong Duong Power Company Limited in Vietnam.

The company is known for its 1,242 MW Mong Duong 2 power plant. The coal-fired power project plant was built under a Build-Operate-Transfer (BOT) agreement and would be transferred to the government after 25 years.

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