PV Power urged to speed $2.25bn LNG-fuelled project
Vietnamese authorities in Nghe An province are urging PV Power to accelerate development of the $2.25 billion Quynh Lap LNG-to-power project with a view to bringing the 1,500 MW plant into operation by 2030 – even as imported fuel costs weigh on profitability.
SK-led consortium breaks ground on $2.3bn LNG-to-power project
A consortium led by South Korea’s SK Innovation, Vietnam’s PV Power, and Japan’s NASU has broken ground on a $2.3 billion LNG-to-power project in Vietnam. The Quynh Lap project will have a power generation capacity of 1,500 MW, fuelled by imported LNG.
Vietnam urged to enhance LNG-to-Power incentives
Investors are seeking better incentives for integrated LNG and power projects in Vietnam as guaranteed electricity offtake levels are still too low to make projects break even. Developers said Power Purchase Agreements (PPAs) with 25-year tenures or a higher minimum offtake level, ideally 85-90%, would help secure predictable cash flows and attract international lenders.
Vietnam inaugurates first two LNG-fuelled power plants
Nhon Trach 3&4, Vietnam’s first two LNG-fired power plants were inaugurated on Sunday. The US$1.4 billion, 1.6 GW project secured US$1.1 billion in financing – without state guarantees.
PV Power nears launch of Vietnam’s first full LNG-to-power units
Nhon Trach Unit 4 — one of two units at Vietnam’s first LNG-fired power plant — is scheduled to begin commercial operations on December 20. PetroVietnam invested an estimated $1.4 billion in the twin units, which have a combined capacity of 1,620 MW.
