State utility EVN signs feasibility study contract for $2.1 bln LNG power plant

Power Project Management Board 2, under state utility Vietnam Electricity (EVN), has signed a consulting contract for the $2.1 billion Quang Trach II LNG-fired power plant's feasibility study report.

Power Project Management Board 2 signed the package for the feasibility study report, specialized reports, and environmental impact assessment report for the project with a consulting consortium of Power Engineering Consulting JSC 1 (PECC1) and Power Engineering Consulting JSC 3 (PECC3).

The signing remarked a milestone in project deployment, PECC1 and PECC 3 said last week.

Quang Trach II project can help ensure stable power supply for the northern region through circuit 3 line of the national power grid, easing the power shortage in some areas.

The project can also promote LNG-fired power in Vietnam, especially for imported products from the United States, Australia, Qatar, Malaysia, and help Vietnam diversify its power sources.

Initially, Quang Trach II is a 1,200 MW coal-fired power plant with an investment of VND48,156 billion ($1.95 billion), according to the government's in-principle approval document issued in 2021.

After the national power development plan VIII (PDP VIII) was issued in May 2023, EVN proposed converting the project into an LNG-fired power plant.

With the latest approval given in September 2024, Quang Trach II has an investment of VND52,490 billion ($2.12 billion) and a capacity of 1,500 MW, using the combined cycle gas turbine (CCGT) technology. Once operational, the power factory can supply nine billion kWh a year.

EVN strives to complete the project's feasibility study in the first quarter of 2025, begin construction in Q3/2025, run the first turbine in Q4/2028, operate the second turbine in Q1/2029, and complete the project in 2030.