PVN proposed to transfer Nhon Trach 3&4 thermal power projects to PV Power

PVN proposed to transfer Nhon Trach 3&4 thermal power projects to PV Power - 

The Government Office has consulted ministries and sectors on Vietnam National Oil and Gas Group (PVN) to transfer Nhon Trach 3 & 4 thermal power projects to PetroVietnam Power Corporation (PV Power) for investment.

Both of these projects are combined cycle gas turbines (CCGT) LNG fired. The projects have a total capacity of 1500-1600MW (750 -800MW each), total investment of VND 33,300 billion and expected to be put into operation by 2020 - 2021. The reason why PVN proposed to transfer these two projects to PV Power is to reduce pressure on PVN to arrange investment capital for the projects.

At present, PVN is implementing investment in 4 coal fired thermal power plants as Thai Binh 2, Long Phu 1 &3 and Song Hau 1; and 7 gas-fired power plants, including Kien Giang 1 & 2, Central 1 & 2, Nhon Trach 3&4 and Son Mỹ 2.

In addition, PVN is focusing on deploying gas upstream projects in Block B of the Blue Whale.

Regarding the project implement capability of the PV Power, this corporation has a charter capital of VND 21,774 billion and is now managing and operating 8 thermal power plants in the whole country with a total installed capacity of 4,208 MW.

PVN expects to mobilize investment capital for Nhon Trach 3&4 projects as follows: equity capital - 30% (VND 9.990 billion), loans - 70% (VND23,310 billion).

The Prime Minister has agreed to add the Nhon Trach 3 & 4 thermal power projects to the Power Development Planning VII (adjusted project) and assigned PVN as the investor.

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