Vung Ang II Thermal Power (VAPCO), the project investor in the 1.32 GW Vung Ang II coal-fired power plant in Ky Loi (Vietnam), has officially inaugurated the project (VietnamNet, 20/04/2026). The USD2.2bn ultra-supercritical (USC) project was developed under a build-operate-transfer (BOT) model by a strategic partnership of Japanese and Korean investors, namely Mitsubishi Corporation (60%) and KEPCO (40%).
Vung Ang II, including two turbines totalling 1.32 GW, was launched in 2007 and entered construction in 2021; the first turbine started operations in 2025 but was hit by a storm, delaying commercial operations.
The project is one of coal-fired plant projects outlined in Vietnam's national power development plan VIII (PDP VIII). In line with Vietnam's sustainable development goals, all coal-fired power plants will transition to using biomass and ammonia as fuel by 2050. As of April 2026, over 6 GW of coal-fired power plants are under construction in Vietnam and nearly 3 GW under development.
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