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Vietnam Energy Forum

Handing decisions on the investment policy of Son My 2 gas power plant project

 - On the morning of February 5, 2023, in the Conference on the Investment Promotion and Deployment of implementing the action plan of the Politburo Resolution No. 26-NQ/TW, happening in Quy Nhon City, Binh Dinh province, Mr. Nguyen Hong Dien, the Minister of Industry and Trade (MOIT) handed the decision on approving the investment policy of Son My 2 Gas Power Project (CCGT) with a capacity of 2.2 GW and a total investment of 1.8 billion US$ to Vietnam AES Company. The project is developed in Binh Thuan province having a 20-year contract with the Vietnamese Government.
Handing decisions on the investment policy of Son My 2 gas power plant project
Minister of Industry and Trade Nguyen Hong Dien hands over the decision approving the investment policy of the Son My 2 gas power plant project.

Speaking at the conference, Mr. Joseph Uddo, Vietnam AES General Director said: “Receiving the investment policy decision is an important milestone for us to implement the Son My 2 gas power project continuously. We are very honored to receive this decision at the Conference on deploying the Action Plan of the Vietnamese Communist Party Politburo Resolution No. 26-NQ/TW, which recognizes the importance of the Son My 2 Gas Power project in ensuring the energy security, promoting the international investment and the socio-economic development in Vietnam”.

The Son My 2 gas power project will supplement the investment plan of Vietnam AES for the domestic gas infrastructure with the Son My LNG import terminal project with a total investment capital of about 1.4 billion US$. This project is implemented by the Joint Venture between AES Corporation (USA) and Vietnam Gas Corporation (PV GAS). The joint venture company received the Certificate of Investment Registration in Vietnam from the Government of Vietnam in May 2022.

The gas power plant and the terminal project will play a key role in shaping the energy future of Vietnam by diversifying the energy structure with imported LNG and meeting the country's growing demand with sustainable electricity sources and reasonable prices.

VietnamEnergy.vn

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