Vietnam approves development of 2.2. GW gas power plant

U.S. energy company AES Corporation has been granted approval by the Government of Vietnam to develop a 2.2 GW combined cycle gas turbine (CCGT) power plant.

AES said on Monday that the plant would be located in the south-central province of Binh Thuan, Vietnam.

The Son My 2 plant will have a 20-year contract with the Government of Vietnam and is expected to achieve financial close in 2021 and begin commercial operations in 2024.

According to the company, the project complements AES’ investment plans in gas infrastructure in the country with its previously announced 450 tbtu Son My LNG terminal, which received approval from the Government of Vietnam in August 2019.

AES added that the plant and terminal would play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG as well as meeting the country’s increasing demand for sustainable and affordable electricity.

Andrés Gluski, AES president and CEO, said: “AES is committed to the country’s economic growth and energy transition through the development of gas and renewable infrastructure. We appreciate that the Government of Vietnam has selected us to advance this critical project for the country.“