Vietnam’s first LNG-to-power plants set to connect to grid mid-Nov

By Tri Duc
Mon, November 11, 2024 | 2:28 pm GMT+7

Nhon Trach 3 and Nhon Trach 4 power plants, the first LNG-to-power plants in Vietnam and located in the southern province of Dong Nai, are set to connect to the grid later this month.

According to Dong Nai's Department of Industry and Trade, the 500 kV Nhon Trach 4 – Phu My – Nha Be power line, one of the four power lines designated for the two power plants, is set to operate on November 15.

The power line has completed all 15 bases and is installing wires.

The site of the Nhon Trach 3 & 4 LNG power plant projects in Nhon Trach district, Dong Nai province, southern Vietnam. Photo courtesy of PetroTimes magazine.

The site of the Nhon Trach 3 & 4 LNG power plant projects in Nhon Trach district, Dong Nai province, southern Vietnam. Photo courtesy of PetroTimes magazine.

Construction of the project began in 2021. Nhon Trach 3 is ready to begin commercial operation in April 2025, while Nhon Trach 4 is set for commercial operation in July 2025.

PV Power, a subsidiary of state-owned Petrovietnam, is the main investor of the 1,600 MW Nhon Trach 3 and Nhon Trach 4 plants, with total investment of $1.4 billion.

They are expected to provide nine billion kWh of electricity to the national grid annually, and contribute VND18 trillion ($711.75 million) to the provincial budget annually.

In October, PV Power and EVN Electric Power Trading Company (EVNEPTC), under state utility Vietnam Electricity (EVN), signed a power purchase agreement (PPA) for the power plants.

It was a milestone in facilitating commercial operations of both plants. With no precedents regarding LNG-to-power projects in the country, PPA negotiation was a challenging process, PV Power said.

Signing the PPA will help PV Power reach a gas sale agreement (GSA) soon under its annual commitment to buy LNG and access loans from international bodies.

Comments (0)
  • Read More
Vietnam real estate credit situation positive despite bond risks: VIS Rating exec

Vietnam real estate credit situation positive despite bond risks: VIS Rating exec

Credit accessed by Vietnamese real estate businesses has risen by 15-16% so far this year, said Duong Duc Hieu, director of rating and research at Hanoi-based Vietnam Investors Services (VIS Rating).

Real Estate - Fri, November 15, 2024 | 7:45 am GMT+7

WB approves $750 mln loan to boost Philippines' digital transformation

WB approves $750 mln loan to boost Philippines' digital transformation

The World Bank (WB) approved a loan of $750 million on Wednesday to help boost digital transformation in the Philippines.

Southeast Asia - Thu, November 14, 2024 | 10:12 pm GMT+7

Google forecasts Indonesia to become Southeast Asia’s largest digital economy

Google forecasts Indonesia to become Southeast Asia’s largest digital economy

A new report by Google, Temasek, and Bain & Company projects that Indonesia's digital economy will reach a gross merchandise value (GMV) of $90 billion in 2024, an annual increase of 13% and the largest figure in Southeast Asia.

Southeast Asia - Thu, November 14, 2024 | 10:06 pm GMT+7

Sekisui Heim Group targets low-cost housing investment in Vietnam

Sekisui Heim Group targets low-cost housing investment in Vietnam

Japan’s Sekisui Heim Group is looking to implement affordable and social housing projects in Vietnam, says Ryuji Saimon, a representative of the group’s subsidiary, Thai SCG Heim.

Real Estate - Thu, November 14, 2024 | 9:53 pm GMT+7

Thailand launches digital durian initiative to boost farmers’ income

Thailand launches digital durian initiative to boost farmers’ income

Thailand’s Digital Economy Promotion Agency (DEPA) has kicked off the One Tambon, One Digital (OTOD) "Digital Durian" project to help 8.8 million durian farmers improve their productivity and set Thai durian standards using digital platforms and innovations.

Southeast Asia - Thu, November 14, 2024 | 9:03 pm GMT+7

Vietnam’s resort town Da Lat to have $67 mln ESG realty complex

Vietnam’s resort town Da Lat to have $67 mln ESG realty complex

The One Destination has partnered with a Singapore investor and an institutional fund to build an ESG real estate complex in Vietnam’s famous resort town of Da Lat.

Real Estate - Thu, November 14, 2024 | 7:09 pm GMT+7

Vietnam prepares for 11-15% power supply growth in 2025: ministry

Vietnam prepares for 11-15% power supply growth in 2025: ministry

Vietnam expects its electricity supply to grow 11-15% in 2025, Minister of Industry and Trade Nguyen Hong Dien said Thursday, while asking relevant state agencies and power suppliers to make utmost preparations.

Energy - Thu, November 14, 2024 | 7:05 pm GMT+7

S Korea’s Kumho Tire to raise investment in Vietnam province to $908 mln

S Korea’s Kumho Tire to raise investment in Vietnam province to $908 mln

South Korea’s Kumho Tire will pour an additional $300 million into the southern province of Binh Duong as its third-phase investment, increasing the total amount to $908 million.

Industries - Thu, November 14, 2024 | 3:45 pm GMT+7

Former transport minister Nguyen Van The faces disciplinary action for Thuan An Group-related violations

Former transport minister Nguyen Van The faces disciplinary action for Thuan An Group-related violations

Vietnam's Central Inspection Committee has proposed disciplining Nguyen Van The, former Minister of Transport.

Politics - Thu, November 14, 2024 | 2:43 pm GMT+7

Central Vietnam hub Danang seeks investment for urban railway airport link

Central Vietnam hub Danang seeks investment for urban railway airport link

Da Nang is calling for investment in a major urban railway project that will connect the Danang International Airport with the central city’s famous My Khe Beach.

Infrastructure - Thu, November 14, 2024 | 2:21 pm GMT+7

HSBC provides first green trade facility in Vietnam’s seafood industry

HSBC provides first green trade facility in Vietnam’s seafood industry

HSBC Vietnam has entered an agreement to provide green trade financing to Vinh Hoan Corporation, marking the first ever green facility that the former has arranged for the latter and for the seafood sector.

Banking - Thu, November 14, 2024 | 2:11 pm GMT+7

Thailand’s Central Retail opens $17 mln mall in southern Vietnam

Thailand’s Central Retail opens $17 mln mall in southern Vietnam

Thailand’s leading retailer Central Retail has launched its 41st Vietnam outlet, the GO! Bac Lieu mall, in the eponymous Mekong Delta province.

Industries - Thu, November 14, 2024 | 1:47 pm GMT+7

Taiwan cooling solution firm AVC to spend $18 mln on building factory in Vietnam

Taiwan cooling solution firm AVC to spend $18 mln on building factory in Vietnam

Asia Vital Components (AVC), a Taiwan-based cooling solution provider, will spend VND457.1 billion ($18 million) on building a second phase factory in Vietnam.

Industries - Thu, November 14, 2024 | 11:07 am GMT+7

Vietnam stock market likely to face valuation discounts during Trump’s presidency: analysts

Vietnam stock market likely to face valuation discounts during Trump’s presidency: analysts

Emerging markets, including Vietnam, may face valuation discounts during President-elect Donald Trump’s second term, say analysts at Vietnam-focused fund management company Dragon Capital.

Finance - Thu, November 14, 2024 | 10:26 am GMT+7

Viettel launches world's first O-RAN 5G network using Qualcomm chipset platforms

Viettel launches world's first O-RAN 5G network using Qualcomm chipset platforms

Viettel has announced the commercial launch of its Open RAN (O-RAN) 5G Network, featuring key equipment developed in-house, marking the world's first O-RAN 5G network utilizing Qualcomm Technologies' 5G RAN platforms.

Companies - Thu, November 14, 2024 | 9:52 am GMT+7

Malaysia commits to net zero emissions by 2050

Malaysia commits to net zero emissions by 2050

Malaysia has committed to achieving net-zero greenhouse gas emissions by 2050, positioning itself as a responsible global player in the fight against climate change despite contributing just 0.8% of global emissions.

Southeast Asia - Thu, November 14, 2024 | 8:25 am GMT+7