EGATi calls off its 1,320 MW coal-based power plant project in Vietnam

Thailand-based EGATi has called off plans to build a 1,320 MW coal-fired power plant in Vietnam’s Quang Tri province due to lack of funding and the country’s transition to clean energy.

EGATi has stated that due to its inability to mobilise funds ahead of the plant’s 2022 construction date as well as the Government of Vietnam and Thailand’s commitments to achieve net-zero emissions by 2050, the thermal project will be suspended. In recent years, the Government of Vietnam has been gradually reducing its thermal power capacity in favour of renewable energy. Notably, the USD2 billion Quang Tri coal plant project was approved in 2013 but has since faced land acquisition and compensation issues.