After lengthy negotiations, the power project contract that had been on hold for many years has finally been finalized. The project obtained the investment permit early on, but there has been no substantial progress due to contract negotiations, landing conditions, and other issues. This signing has cleared the key obstacles for the project to move forward, bringing it one step closer to the start of construction and adding an important link to the implementation of Vietnam's power planning.

Basic information of the project

The project plans to have two 600MW coal-fired units with a total installed capacity of 1200MW, and aims to achieve commercial operation by 2030. Jointly developed by Hansha Enterprises, it obtained investment permission as early as 2017 and was included in the local eighth power plan. The investor promises to increase investment in environmental protection and strive to benchmark emissions with gas-fired power plants. The related incremental costs will be borne by the investor themselves.

There are still processes to be carried out in the future

The signing of the contract is just the starting point, and there are still many preliminary tasks waiting to be pushed forward. The investor needs to implement financing, finalize the power purchase agreement with the local power group, complete land acquisition and site transfer, finalize the coal supply and transportation plan, and complete various construction and environmental approval procedures. The local coal group will cooperate to ensure the supply of coal sources. Currently, the bidding results and start time of the construction general contractor have not been announced. Keywords: Vietnam, Southeast Asia, coal-fired power plants

Hidden cooperation opportunities

After the project enters the implementation channel, projects such as generator sets, factory building construction, and coal transportation supporting facilities will be launched one after another, bringing potential market space to domestic power engineering enterprises. At the same time, it should be noted that BOT signing does not mean that all conditions have been met. There is still uncertainty in financing, power purchase agreements, and other aspects. Whether the project can be completed on schedule depends on the pace of subsequent procedures.Editor/Li Xiaohua