Central Vietnam province to select investors for $2.2 bln LNG-fired power plant in Q1

Vietnam’s central province of Nghe An plans to complete investor selection and grant an in-principle approval for the $2.2 billion Quynh Lap LNG-fired power plant later this quarter.

Nghe An Chairman Le Hong Vinh recently asked the Department of Planning and Investment and the Department of Industry and Trade to conduct the tasks according to the above-mentioned timeline.

He also ordered other agencies to timely deploy projects related to the power plant like power grids.

The 1,500 MW Quynh Lap LNG-to-power plant has been included in the national power development plan VIII (PDP VIII) as a prioritized project.

The facility will comprise an LNG-fired power plant, a gas storage facility, an LNG terminal that can receive ships of about 100,000 DWT, and a dyke.

The plant will have an LNG input of about 1.15 million tons a year. It is expected to begin commercial operations before 2030.

The Quynh Lap project was initially planned as a thermal power plant spanning 283 hectares in Quynh Luu district. In the previous national power plan, PDP VII, the project included two plants, Quynh Lap I and Quynh Lap II, with total capacity of 2,400 MW.

This project and other coal-fired power plants with a combined output of 13,220 MW have been excluded from the latest plan, PDP VIII.

In October 2024, five investors applied to join the project. They include a consortium of PV Power, Nghe An Sugar LLC, and SK E&S Co., Ltd; Power Generation Corporation 1 (EVNGENCO 1); South Korea’s Posco International and Trung Nam Construction Investment JSC; Japan’s Sumitomo Corporation; a consortium comprising Viet Thanh Bamboo Energy Investment JSC and Qatar’s Gulf Petroleum Limited