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Vietnam Power and Energy Update – 27 February 2024

PIC tracks the latest developments in Vietnam's power sector providing insight and analysis on the market and policy.

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Vietnam’s first LNG power project to be operational in November 2024

The Nhon Trach 3 and 4 LNG power plants, Vietnam’s first LNG power projects, are expected to achieve commercial operation in November 2024 and May 2025 respectively. The project developed by PetroVietnam Power Corporation (PV Power) has a combined capacity of 1,500 MW and is located in Dong Nai Province, Vietnam. With a total investment of USD 1.4 billion, the two plants are expected to add 9 billion kWh of capacity to the national grid. Source


Central region gas power hub to be developed in Quang Nam Province

A gas power hub for the central region of Vietnam, linking projects across the gas to power value chain, is planned for development in the Chu Lai Open Economic Zone, Quang Nam Province. It is expected that the project will include 4 power plants totaling 3,000 MW linked to the Ca Voi Xanh (Blue Whale) reserves (Quang Nam Provincial Master Plan period 2021 – 2030 with a vision to 2050). Source


Trina solar to invest USD 454 million in Thai Nguyen Province solar panel project

Thai Nguyen Province has approved a USD454 investment by Trina Solar Cell (Vietnam) Co., Ltd. for its solar panel production project in Yen Binh Industrial Park, Pho Yen City. The project is expected to have an annual production capacity of 11,570 monocrystalline silicon bars and 560 million photovoltaic cell panels. The total capital investment of the project is approximately VND 11,067 billion, equivalent to USD 454 million. The project is scheduled to be operational from March 2025. Source


FPT IS and Carbon EX to cooperate in development of Vietnam’s carbon market

FPT IS and Carbon EX, a Japanese carbon credit trading platform, have agreed to cooperate in providing services and solutions for promoting carbon credit projects in Vietnam. FPT IS will connect with Vietnamese organizations and businesses to promote green transition projects, whilst Carbon EX is to provide expertise in creating new carbon credit projects and supporting global carbon credit trading. Source


Phu Son WTE plant in Thua Thien - Hue to be put into operation

The Phu Son waste-to-energy (WTE) plant has completed construction and equipment installation and is to be operational from March 2024. The plant, constructed in Huong Thuy, Thua Thien – Hue province is invested by Limited EB Environmental Energy Company Limited, with a total investment of VND 1,700 billion, making it the largest WTE plant in the province. The plant has a processing capacity of 600 tons of waste per day, and has generated a total of 14,636,300kWh during trial operation. Source Source 


Wind power contributes VND 27 billion to Dak Nong’s provincial budget in 2023

In 2023, the 50 MW Dak Hoa wind power plant generated 153.7 million kWh of electricity and contributed approximately VND 27 billion to Dak Nong Province’s provincial budget. The plant has been commercially operational since November 2021, and is currently the only one of six planned wind power project to achieve commercial operation in the province. Source


Startups in the green energy sector to be prioritized in Dong Nai province

Green energy and renewable energy have been designated as priority areas in Dong Nai Province’s plan for startup projects. Dong Nai plans to develop an innovative startup ecosystem to support sustainable development and investment in the province.(Dong Nai Province’s plan on "Supporting the innovative startup ecosystem in Dong Nai province in 2024") Source

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