Sumitomo-invested 1,432 MW thermal power plant approved for full operation
The 1,432 MW Van Phong 1 coal-fired power plant, invested by Japan’s Sumitomo Corporation, was approved for full commercial operation last week after Deputy Minister of Construction Bui Xuan Dung gave the green light for its second turbine.
The $2.58 billion project is being developed in Vietnam’s central province of Khanh Hoa on a build-operate-transfer (BOT) basis by Van Phong Power Company, a wholly-owned subsidiary of Sumitomo Corp.
Deputy Minister of Construction Bui Xuan Dung (standing) conducts an on-site check of Van Phong 1 power plant in Khanh Hoa province, south-central Vietnam, December 28, 2023. Photo courtesy of Xay Dung (Construction) newspaper.
Van Phong Power Company, as the project investor, reported that the construction of the project began in November 2019 and finished in September 2023. The coal suppliers for the thermal power factory are Indonesia and Australia, with 3.6 million tons a year for two turbines of 716 MW each.
The factory completed the installation and connected turbine No.1 to the grid in April 2023, and turbine No.2 in August 2023. Since then the power plant has been operating on a trial basis. The approval of turbine No.1 for commercial operation was given in October 2023.
Van Phong 1 thermal power plant in Khanh Hoa province, central Vietnam. Photo courtesy of Xay Dung (Construction) newspaper.
According to the Ministry of Industry and Trade, Vietnam welcomed 4,298 MW of new power sources in 2023, including 1,200 MW from Thai Binh 2 thermal power plant, 1,432 MW from Van Phong 1 thermal power plant, and 1,201 MW from 21 renewable energy projects that had completed their commercial operations date (COD) procedures.
- Related News
- Read More
Vietnam posts nearly $14 bln trade surplus in 8 months
Vietnam recorded a trade surplus of $13.99 billion in the first eight months of 2025, according to the General Statistics Office under the Ministry of Finance.
Economy - Sun, September 7, 2025 | 10:41 am GMT+7
S&P upgrades ratings of three Vietnamese banks, citing resilient economy
S&P Global Ratings has raised the long-term credit ratings of three major Vietnamese banks, reflecting the stronger resilience of the country’s financial system and continued above-average economic growth.
Banking - Sun, September 7, 2025 | 10:34 am GMT+7
Luong Nguyen Minh Triet appointed top leader of central Vietnam hub Danang
Luong Nguyen Minh Triet, deputy Party chief of Danang and Chairman of the municipal People's Committee, has been appointed the city's Party chief - the highest position in the locality.
Politics - Sun, September 7, 2025 | 9:53 am GMT+7
Sun Group aims to launch $2 bln casino-resort complex in northern Vietnam by 2032
Sun Group, one of Vietnam’s leading property developers, targets to complete its VND51.6 trillion ($2 billion) casino and resort complex project in the northern coastal province of Quang Ninh by 2032.
Real Estate - Sun, September 7, 2025 | 8:00 am GMT+7
Vietnam's industrial production on upward trend
Vietnam's industrial production index continued to rise in the first eight months of the year, with all 34 cities and provinces recording an increase.
Economy - Sat, September 6, 2025 | 10:20 pm GMT+7
Vietnam's leading industrial park developer Becamex IDC raises $75 mln in latest bond issuance
Becamex IDC (HoSE: BCM), a leading Vietnamese industrial park developer, has raised VND2 trillion ($75.4 million) in its latest bond issuance.
Finance - Sat, September 6, 2025 | 8:35 pm GMT+7
Vietnam's FDI capital disbursement hits five-year high amid global decline
Disbursed foreign direct investment (FDI) capital in Vietnam hit $15.4 billion in Jan-August, up 8.8% year-on-year, despite declining global investment flows, the Foreign Investment Agency (FIA) reported.
Economy - Sat, September 6, 2025 | 4:30 pm GMT+7
EVNNPT leader inspects 220kV substation project progress in central Vietnam
Pham Le Phu, CEO of EVNNPT, a subsidiary of state utility Electricity Vietnam (EVN), on Thursday inspected the construction of the 220kV Chan May Substation and its associated transmission line in the central city of Hue.
Companies - Sat, September 6, 2025 | 3:42 pm GMT+7
Vietnam’s gas transmission firm PV Gas SE: a journey of creation and pride
For over two decades, Petrovietnam Gas South East Transmission Company (PV Gas SE) has stood as a lasting symbol within Petrovietnam Gas Joint Stock Corporation (PV Gas) - one of the earliest-established units closely tied to the pioneering steps of Vietnam’s gas industry.
Companies - Sat, September 6, 2025 | 3:33 pm GMT+7
Politician Anutin Charnvirakul wins vote to become new Thai PM
Thailand’s Bhumjaithai Party leader Anutin Charnvirakul has secured enough votes to become the country's new Prime Minister.
Southeast Asia - Sat, September 6, 2025 | 10:55 am GMT+7
Vietnam’s sugar productivity maintains top regional spot
In the 2024-2025 crop, Vietnam maintained its position as the regional leader in sugar productivity, reaping 6.69 tons per hectare, outpacing other major producers such as Thailand, Indonesia, and the Philippines.
Companies - Sat, September 6, 2025 | 10:53 am GMT+7
Gaming drives Vietnam tech unicorn VNG’s H1 revenue
Vietnamese tech unicorn VNG Corp (UPCoM: VNZ) reported net revenue of over VND4.8 trillion ($181.82 million) in H1, up 11% year-on-year, with gaming remaining its major contributor at VND3.59 trillion ($135.98 million).
Companies - Sat, September 6, 2025 | 10:39 am GMT+7
Hanoi gives green light to fifth metro line Van Cao-Hoa Lac
Vietnam's capital city of Hanoi has approved a plan to build the Metro Line No. 5, connecting Van Cao with Hoa Lac.
Infrastructure - Sat, September 6, 2025 | 9:02 am GMT+7
VAFIE helps Hai Phong-based firms get updates on tax policies
The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) and Hai Phong's Tax Department co-organized a seminar titled “Updates on Tax Policies and International Financial Reporting Standards (IFRS)” on Friday in the northern port city.
Companies - Sat, September 6, 2025 | 8:56 am GMT+7
Vietnam coffee exports hit record high
Vietnam’s coffee industry is experiencing a breakthrough year, with exports setting new records in both volume and value.
Economy - Sat, September 6, 2025 | 8:10 am GMT+7
H&M eyes expansion in Vietnam’s wealthiest city
Fashion retail giant H&M is looking into procedures for leasing locations and opening new stores at the heart of Ho Chi Minh City, as it aims for expansion in Vietnam.
Industries - Fri, September 5, 2025 | 9:41 pm GMT+7
