Vietnam Electricity receives 715 MW power plant from foreign investors as BOT contract ends
The 715 MW Phu My 2.2 gas-fired power plant, invested per the build-operate-transfer (BOT) format, was transferred to state utility Vietnam Electricity (EVN) on Tuesday.
The transfer followed the expiration of the power plant’s 20-year operation starting February 4, 2005. This is the second BOT power plant transferred to EVN, following Phu My 3 in March 2024.
The Ministry of Industry and Trade holds a signing ceremony for the transfer of Phu My 2.2 power plant to EVN in Hanoi, February 4, 2025. Photo courtesy of EVN.
The $400 million power plant, located in the southern coastal province of Ba Ria-Vung Tau, was originally invested by France’s EDF International, Japan’s Sumitomo Corporation, and Japan’s JERA Co., Inc.
It generated over 90 billion kWh to the national grid during its 20-year operation, using domestic gas. The facility is set to continue supplying 4.6 billion kWh to Vietnam annually.
At some points of time in 2024, it utilized LNG as feedstock, making it one of the first power plants in Vietnam to operate with LNG.
The transfer of the power plant highlighted a success of Vietnam in attracting foreign investments in the energy sector, according to the Ministry of Industry and Trade.
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