Marubeni taps Vietnam energy opportunities

Marubeni, a Japanese company investing in Vietnam’s clean energy sector, is seeking to expand cooperation with state utility Vietnam Electricity (EVN).

Marubeni is eager to continue its partnership with EVN in renewable and LNG-to-power projects, Satoru Harada, COO of Marubeni’s power business division, told EVN CEO Tran Dinh Nhan in Hanoi on Monday.

Both sides discussed cooperation possibilities in the sector as Vietnam aims to reduce carbon emissions towards a net-zero goal by 2050.

Harada added Marubeni would work closely with Vietnamese authorities to complete the Nghi Son 2 thermopower plant in Thanh Hoa province on schedule.

At present, a joint venture between Marubeni, Tokyo Gas and Vietnam's PV Power and Colavi JSC, is developing the Quang Ninh LNG power plant in Quang Ninh province.

With a total investment of VND47.48 trillion (more than $2 billion), this will be the first power plant using imported LNG in the northern region, with a designed capacity of 1,500 megawatts.

Marubeni is also developing the O Mon 2 thermopower plant in Can Tho city, the hub of Mekong Delta in southern Vietnam.

The Japanese corporation is an engineering procurement and construction contractor for many major power projects in Vietnam.