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Vietnam Power and Energy Update – 4 March 2024

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

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1.5 GW LNG power plant planned for Thanh Hoa Province

A 1,500 MW LNG thermal power plant with a total investment cost of USD 2.4 billion has been proposed for development in the Nghi Son Economic Zone, Thanh Hoa Province. The project will include a 1,500 MW power plant, an LNG port, a 1 km breakwater, and auxiliary works. The project is expected achieve commercial operation by 2030 and the bidding process is expected to begin in Q2/2024. Source


Phu My 3 BOT power project transferred to EVN

The Phu My 3 Build Operate Transfer (BOT) combined cycle gas turbine power plant was transferred to Vietnam Electricity (EVN) on 1 March 2024. The project is the first wholly foreign owned BOT project to be transferred to the Vietnamese Government after 20 years of operation. The BOT project investors were Sembcorp, Kyuden International Corporation and Sojitz Corporation. Source


Pricing proposal for imported wind power from Laos (after 2025)

The Electricity Power Trading Company (EPTC) has proposed a price framework for electricity imported from wind power projects in Laos after 2025. The proposed ceiling price is 5.51 Cent/kWh, reflecting a 20 percent reduction from current pricing (6.95 Cent/kWh). Source


Laos looks to increases wind power exports to Vietnam

Seven wind power projects in Laos, with a total capacity of 4,149 MW, are seeking to sell electricity to Vietnam. Currently planning anticipates that Vietnam will import 300 MW by 2025 and up to 2,500 MW between 2026-2030 from Laos wind power projects. Source Source


Bidding open for USD 61 mn waste-to-power plant in central Vietnam

A bidding process in respect of investment into the Long My waste-to-power plant has been launched by Binh Dinh Province. The 30-year project is located in Quy Nhon, with a daily processing capacity of 500 tons of solid waste. Binh Dinh Province has set a maximum price of VND 430,000 (USD 17.64) for processing one ton of waste for the first three years of operation, before increasing it biennially in line with inflation. Source


90 MWp photovoltaic panels supply contract between DAT Group, SPower and LONGi

DAT Group, SPower, and LONGi have entered into a partnership to supply 90MWp of photovoltaic panels to Vietnam. Source

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