Vietnam Electricity Group (EVN) and Hiep Phuoc Power Company Ltd, an affiliate of CT&D Group, have signed a Power Purchase Agreement (PPA) for Phase 1 of the Hiep Phuoc LNG Power Plant in Ho Chi Minh City (Vietnam Energy Magazine, 27/03/2026). This is the second PPA contract in the LNG power sector in Vietnam and the first under the new 2025 government decree establishing preferential frameworks for imported LNG projects (Decree No. 56/2025/ND-CP).
The 1.2 GW LNG-fired power plant is developed under a Build-Operate-Own (BOO) model, requiring a total investment of nearly VND19tn (around USD900m). It will use modern gas turbine technology supplied by Siemens (Germany) and once operational in 2028, Phase A is expected to generate 7 TWh/year.
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