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Vietnam Energy Forum

The Government assigned EVN to take over BOT Phu My 3 and Phu My 2.2 Power Plants

 - On behalf of the Prime Minister, Deputy Prime Minister Le Minh Khai has just signed a document sent to the Minister of Industry and Trade (MOIT) and Electricity of Vietnam (EVN) Chairmen on transferring BOT Power Plants as Phu My 3 (BOT contract term will expire on March 1, 2024) and Phu My 2.2 (BOT contract term will expire on February 4, 2025).

The Government assigned EVN to operate business, maintain and preserve BOT Phu My 3 and Phu My 2.2 Power Plants (belonging to Phu My Power Center) after receiving them. The Government assigned MOIT full responsibility for the contents of reports and proposals to ensure compliance with legal regulations and authority.

On the other hand, MOIT is assigned to preside over and coordinate with EVN and relevant agencies to carry out the transfer and reception of the above power plants in accordance with the provisions of Decree 35 of 2021 of the Government, as well as other relevant legal regulations.

“This transfer must ensure timely, strict, safe, effective, and continuous operation of the two plants, ensuring electricity supply to serve production, business and daily activities of people" - The Government further noted to relevant parties. The investor of Phu My 3 BOT Power Plant (Ba Ria - Vung Tau) is Sembcorp, Kyuden International Corporation and Sojitz Corporation. It has a contracted capacity of 716.8 MW. The project and BOT contracts were signed by the Ministry of Industry (now the Ministry of Industry and Trade) with the investor - BOT Company on May 22, 2001. The power plant started commercial operation on March 1, 2004 with a term of 20 years and will be transferred without compensation to the Vietnamese side on March 1, 2024 after the end of the contractual term.

As for the BOT Phu My 2.2 project (also in Ba Ria - Vung Tau) invested by EDFI, Summit Global Management II B.V and TEPCO, with a capacity of 715 MW. The BOT contract was signed on September 18, 2001 and the project operated in 2005. February 4, 2025, is the deadline for transferring to the Vietnamese side after the 20-year contract expires./.


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