Prime Minister has assigned PV Power to invest with Nhon Trach 3&4 TPPs

Prime Minister has assigned PV Power to invest with Nhon Trach 3&4 TPPs - 

The Prime Minister (PM) has just assigned Petrovietnam Power Corporation (PV Power) to invest with Nhon Trach 3&4 TPPs which have been approved by the Ministry of Industry and Trade (MOIT) for adjusting location of construction in Nhon Trach power center and agreed by PM for supplement into Power Development Planning VII (adjusted project).

These TPPs fired by LNG have a total capacity of 1500 - 1600MW (2x750-800MW) and a total investment of VND 33,000 billion, expected to be put into operation in 2010-2021 to timely speed up power supply for the southern region.

The PVN proposed to transfer these TPPs to PV power for investment with a goal to reduce pressure on PVN to arrange investment capital for developing it’s projects.

Regarding the ability for project implementation, it is well-known that PV power having a charter capital of VND 21,774 billion is now operating 8 TPPs with a total capacity of 4,208 MW in the whole country.

On the investment plan of 2 Nhon Trach 3 & 4 TPPs, PVN expects to mobilize equity of about 30% (VND 9,990 billion) and loan capital of about 70% (VND 23,310 billion). In the case, if PV power contributes100% of the equity it expects to mobilize VND 2,392 billion from the development investment, 4,647 billion from divesting capital in member subsidiaries and 2,951 billion from increasing stocks issued in next years.

In the case of founding a stock joint company for project implementation. The company will hold 51% of PV Power equity that is mobilized from development investment and divesting funds.

However, according to MOIT, founding a stock joint company then implementing project investment may lead to slow commissioning the projects, while they should be commissioned soon to timely supply electricity for southern region.

At present, PV power is operating the Nhon Trach 1&2 TPPs, so it can use the available infrastructure (temporary port, oil port, DO tanks, power system, construction and operation water system, office building, warehouse ...) for carrying out construction and operation, and reducing investment costs of Nhon Trach 3&4 TPPs.

Leave your comment on this story