HCMC wants national plan to include 1.5 GW LNG power plant

By Phan Lam
Mon, August 8, 2022 | 3:13 pm GMT+7

Ho Chi Minh City has asked the government to add the 1.5 gigawatt second phase of Hiep Phuoc LNG-to-power plant into the country’s power development plan (PDP VIII).

The purpose is to help the southern economic hub reduce its reliance on power supply from outside sources.

The power plant is located in Nha Be district on the city’s outskirts, with the second phase set for completion in the 2026-2030 period.

Hiep Phuoc power plant in Ho Chi Minh City’s Nha Be district. Photo courtesy of Hiep Phuoc Power Co.

Hiep Phuoc power plant in Ho Chi Minh City’s Nha Be district. Photo courtesy of Hiep Phuoc Power Co.

As the total capacity from both phases is 2.7 GW, city authorities also want related electricity transmission lines to be added to PDP VIII to unleash the LNG-to-power plant’s output.

Given HCMC’s rooftop solar potential estimated to be 6,000 megawatts peak (MWp), city authorities have asked the government to first introduce regulations promoting public rooftop solar systems, followed by private sector stimulations.

Making use of rooftop solar power is another way to help Vietnam’s largest economic hub cut its reliance on outside power sources, according to HCMC officials.

In Vietnam, LNG is drawing increasing attention as a power generation fuel as coal falls out of favor and the country seeks carbon neutrality by 2050. Many foreign investors are eyeing investments in LNG import terminals and power plants at present.

Comments (0)
  • Read More
Int’l agencies outline transition pathways for Vietnam’s coal-fired power plants

Int’l agencies outline transition pathways for Vietnam’s coal-fired power plants

International organizations and financiers have gathered in Hanoi to discuss transition options for a number of coal-fired power plants in Vietnam as the country is moving to meet its net-zero emissions target by 2050.

Energy - Fri, March 29, 2024 | 7:05 am GMT+7

Northern Vietnam province seeks power plant fuel shift from coal to LNG

Northern Vietnam province seeks power plant fuel shift from coal to LNG

Nam Dinh province is seeking approval to have its $2.2 billion Nam Dinh 1 power plant, currently a build-operate-transfer (BOT) project, shift to using LNG instead of coal as its fuel.

Energy - Thu, March 28, 2024 | 10:25 pm GMT+7

Korean chaebol SK eyes LNG-fired power project in central Vietnam

Korean chaebol SK eyes LNG-fired power project in central Vietnam

SK Group, one of the largest South Korean chaebols, is looking to build an ecosystem around an LNG-fired power plant in Phu Yen province, south-central Vietnam.

Energy - Thu, March 28, 2024 | 5:13 pm GMT+7

Vietnams steel major Hoa Phat 'confident' about China competition

Vietnams steel major Hoa Phat 'confident' about China competition

Senior officials of major Vietnamese steel maker Hoa Phat are confident that the company can deal with Chinese competition, given the attention they’ve paid to their costing.

Companies - Thu, March 28, 2024 | 4:00 pm GMT+7

FTSE retains Vietnam in watch list for reclassification to emerging market status

FTSE retains Vietnam in watch list for reclassification to emerging market status

FTSE Russell, one of global index providers, has kept Vietnam in its watch list for possible reclassification to a secondary emerging market from a frontier market currently.

Finance - Thu, March 28, 2024 | 3:39 pm GMT+7

HCMC firms in the market for larger office spaces: Knight Frank

HCMC firms in the market for larger office spaces: Knight Frank

Rising demand for larger office spaces and a willingness to invest in them speak to the confidence and potential of the Ho Chi Minh City office market, wrote analysts from consulting firm Knight Frank.

Real Estate - Thu, March 28, 2024 | 3:10 pm GMT+7

Vietnam, Northern Territory complementarities present huge investment, cooperation potential: experts

Vietnam, Northern Territory complementarities present huge investment, cooperation potential: experts

Several complementarities between Vietnam and Australia’s Northern Territory present significant investment and cooperation potential in multiple sectors including animal breeding, meat processing, tourism and vocational training, experts say.

Industries - Thu, March 28, 2024 | 2:25 pm GMT+7

Malaysia aims to develop semiconductor industry

Malaysia aims to develop semiconductor industry

Malaysian Deputy Minister of Investment, Trade and Industry (MITI) Liew Chin Tong said the government is committed to developing the semiconductor industry which is now a strategic income source for the country.

Southeast Asia - Thu, March 28, 2024 | 12:10 pm GMT+7

'Good time' for Vietnam firms to increase presence in Australia’s Northern Territory

'Good time' for Vietnam firms to increase presence in Australia’s Northern Territory

Australia’s Northern Territory has great potential for development, and Vietnamese businesses should stand ready to increase their presence in the territory, said Nguyen Ngoc My, vice chairman of the Vietnam's Association of Foreign Invested Enterprises (VAFIE) and chairman of the Northern Territory-Vietnam Business Council (NTVBC).

Industries - Thu, March 28, 2024 | 11:39 am GMT+7

Bosch exec appointed new EuroCham Vietnam chair

Bosch exec appointed new EuroCham Vietnam chair

The European Chamber of Commerce in Vietnam (EuroCham) has appointed Dominik Meichle, managing director of Bosch Vietnam, as its new chairman.

Economy - Thu, March 28, 2024 | 10:40 am GMT+7

Quang Binh province seeks investor for $32 mln high-end urban area

Quang Binh province seeks investor for $32 mln high-end urban area

Vietnam's central province of Quang Binh is seeking an investor for the VND800 billion ($32.3 million) Quan Hau luxury urban area in Quang Ninh district.

Real Estate - Thu, March 28, 2024 | 10:25 am GMT+7

Vietnam’s FIE association, UK delegation discuss sustainable green growth

Vietnam’s FIE association, UK delegation discuss sustainable green growth

The Vietnam's Association of Foreign Invested Enterprises (VAFIE) and a delegation of the Forest Governance, Markets and Climate (FGMC) program under the British government have been discussing sustainable and green growth in Vietnam.

Economy - Thu, March 28, 2024 | 9:56 am GMT+7

Vietnam FDI remains robust as Chinese firms step up

Vietnam FDI remains robust as Chinese firms step up

Foreign direct investment (FDI) flow to Vietnam has continued to grow since the start of this year with Chinese businesses taking the lead in terms of new projects.

Economy - Thu, March 28, 2024 | 9:27 am GMT+7

Northern Territory investment cooperation seminar follows upgrade in Vietnam-Australia relations

Northern Territory investment cooperation seminar follows upgrade in Vietnam-Australia relations

Following the recent upgrading of Vietnam-Australia ties to that of a Comprehensive Strategic Partnership, The Investor and the Vietnam-Northern Territory Business Council (NTVBC) will organize a seminar in Hanoi on Thursday.

Economy - Thu, March 28, 2024 | 7:12 am GMT+7

Real estate recovery reflects optimistic outlook for Vietnam: economists

Real estate recovery reflects optimistic outlook for Vietnam: economists

Vietnam was well placed to seize growth opportunities and tap global trends, leading economists said at a forum on Tuesday, citing real estate market recovery as an indicator.

Economy - Wed, March 27, 2024 | 10:50 pm GMT+7

Jewelry major PNJ aims for $81 mln after-tax profit in 2024

Jewelry major PNJ aims for $81 mln after-tax profit in 2024

Vietnam’s Phu Nhuan Jewelry JSC has targeted VND2.09 trillion ($80.65 million) in after-tax profit this year, up 6% from 2023 and a new record for the firm, according to its leadership.

Companies - Wed, March 27, 2024 | 5:34 pm GMT+7