PetroVietnam Power Corporation (PV Power), a wholly owned subsidiary of Vietnam's national oil company PetroVietnam, plans to start the construction of 9 gas-fired power plants with a total expected output of 5,200 MW.
The nine plants are as follows: Kien Giang-1 & Kien Giang-2, Nhon Trach-3 & Nhon Trach-4, Mien Trung-1 & Mien Trung-2, Son My-2.1, Son-My-2.2 and Son My-2.3. They will receive gas supplies from the Lô B Ô Môn and Ca Voi Xanh fields and will be feed from imported gas. The power they will produce is expected to be delivered in the Southern region, where power demand has been rising by 11% on a yearly basis.
The main investor in the 9 projects will remain PetroVietnam, not the subsidiary. However, PV Power has asked for permission to become the main investor for the Nhon Trach-3 and 4 projects. Both are expected to cost US$1.4bn and PV Power is expected to obtain 20% of the total capital. For the 7 other projects, the investment is supposed to come from capital increases or by calling for more stakeholders.
PV Power is Vietnam's second largest power producer after Electricity of Vietnam (EVN) and the company delivered 21 TWh to the national grid in 2016. Apart from the 9 gas-fired projects, PV Power plans to invest in 4 greenfield coal-fired plants projects as well.
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