|AES representative received the investment policy decision for the Son My II combined cycle gas turbine (CCGT) project from Minister of Industry and Trade Nguyen Hong Dien (right).|
The conference was attended by Prime Minister Pham Minh Chinh, Minister of Planning and Investment Nguyen Chi Dung, Minister of the Ministry of Industry and Trade Nguyen Hong Dien, and other government officials.
The Son My 2 CCGT power plant has a total capacity of 2.2 GW and will be located in Binh Thuan Province. The $1.8 billion plant will have a 20-year contract with the Government of Vietnam.
Speaking at the conference, Mr. Joseph Uddo, President, AES Vietnam, said: “The investment policy decision of the Son My 2 CCGT is a significant milestone enabling us to move ahead with the development of the Son My 2 power plant. We are honoured to receive approval at this significant event today on the action plan to implement the Resolution No. 26-NQ/TW of the Politburo, which recognises the importance of the Son My 2 CCGT power plant project in ensuring energy security, promoting international investment and the socio-economic development of Viet Nam”.
Son My 2 complements AES’ investment plans in gas infrastructure in the country together with the previously announced $1.4 billion Son My LNG import terminal, a joint venture with Petrovietnam Gas JSC (PV Gas), which received the Investment Registration Certificate in May 2022 from the Government of Viet Nam. Together, the plant and terminal will play a major role in shaping Viet Nam’s energy future by diversifying the energy mix with imported LNG, as well as meeting the country’s increasing demand for sustainable and affordable electricity.
About AES in Viet Nam
Our vision is to be a leading sustainable power company in Viet Nam that provides safe, reliable and affordable energy.
AES, through its subsidiary, AES Mong Duong Power Company Limited, successfully developed and arranged financing for the Mong Duong 2 Power Project of 1,242 MW with total investment of approximately US$2.1 billion. This was Viet Nam’s first Build – Operate – Transfer coal-fired power project, representing approximately 2.3 per cent of the country’s installed capacity. To learn more, please visit https://aesmongduong.vn/.
In November 2017, AES signed an MOU with PV Gas in the presence of US President Donald J. Trump and Vietnamese President Tran Dai Quang to develop the US$1.3 billion Son My LNG Terminal Project. In November 2019, AES also signed an MOU with the Ministry of Industry and Trade to develop a 2.2 GW combined cycle gas turbine (CCGT) power plant under a BOT, which will be located in Binh Thuan Province. In October 2020, AES Vietnam and PV GAS inked a Term Sheet of the Joint Venture Agreement for Son My LNG terminal. Together, the CCGT and terminal are expected to play a major role in shaping Viet Nam’s energy future by diversifying the energy mix with imported LNG and meeting the country’s increasing demand for sustainable and affordable electricity. For more information, visit: www.aes-vietnam.com