Vietnam to grant investment licenses for three coal-fired power plants with $7.5 billion

Vietnam is reportedly planning to grant investment licences for three coal-fired power plants worth $7.5 billion. South Korea’s Taekwang Power Holdings Co. and Saudi Arabia’s ACWA Power will invest $2.07 billion for a 1,200 MW thermal power plant and have 50 per cent stake each in the plant, which would commence commercial operations in 2021. The second plant, also having a capacity of 1,200 MW, would draw investments from Japan’s Marubeni Corporation and the Korea Electric Power Corporation. Meanwhile, Japan’s Sumitomo Corporation would invest $2.64 billion in the third power plant, which would have a capacity of 1,320 MW. Commercial operations are expected to start by 2022. The country is mostly reliant on coal-fired and HPPs for meeting its annual electricity demand growth of around 11 per cent.


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