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The opinion of the Prime Minister on Bac Lieu LNG-fired thermal power project

The opinion of the Prime Minister on Bac Lieu LNG-fired thermal power project - 

On the evening of July 25, 2018 in the government office, Prime Minister (PM) Nguyen Xuan Phuc received the investors interesting in Bac Lieu LNG-fired thermal power project (TPP).  

Prime Minister Nguyen Xuan Phuc receives investors investing in Bac Lieu LNG-fired TPP

At the meeting, there were also leaders of Bac Lieu province and some related ministries. The PM agreed with the opinion that the project has many advantages and that the Ministry of Industry and Trade in cooperation with the Electricity of Vietnam (EVN), the concerned ministries and agencies will consider adjusting the Power Planning VII. If the project is highly feasible, it will be added to, and 1000 MW of the project will be put into operation by 2021.

The total capacity of Bac Lieu LNG-fired TPP is expected of 3200 MW, and a total investment of about $4 billion (over 91 trillion VND). The investors consider that with the support, cooperation and assistance from the Government and other ministries and agencies in Vietnam, they expect to generate the first unit with a capacity of 1,000 MW in 3 years with an electricity price of about 7 Cent/kWh. The investors also informed that the emissions of the project are low compared to coal-fired thermal power and virtually no other pollutant emissions.

Leaders of Bac Lieu province see this is a feasible project, and the price of 7 Cent/1 kWh is reasonable and lower than the price of electricity produced from coal, wind and solar power projects.

Speaking at the meeting, PM Nguyen Xuan Phuc welcomes the investors for their interests to invest in this project in Mekong river delta where there is very great potential for developing gas-fired TPP. The PM assigned MOIT in cooperation with EVN and relevant agencies to adjust Power Development Planning VII, Ministry of Planning and Investment, Bac Lieu PPC to guide the investment orders and procedures for the investors in the spirit of reform. PM emphasized: this is a project with a large investment capital, so it is necessary in every stage to do seriously, methodically, with proper process. The project must minimize the impact on the environment and the electricity price must be highly competitive and ensure the schedule of the project.

According to the information, in early May of 2018, Bac Lieu PPC and Investment Joint Venture Energy Capital Vietnam (USA) signed a MoU on developing a 3200 MW LNG fired TPP on an area of 100 ha in Bac Lieu province. The project will be developed in three phases as:

Phase 1: Complete constructing the first 1,000 MW of power plant with a schedule to start in 2018 and put it into operation at the end of 2021.

Phase 2: Complete constructing the additional 1,000 MW of the power plant and put it into operation at the end of 2024.

Phase 3: Complete constructing the additional 1,200 MW of the power plant and put it into operation in 2027.

VietnamEnergy.vn

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