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Vietnam to approve $7.5bn worth of coal-fired power plants

 

AsemconnectVietnam – The Vietnamese Government expects to approve investment licences for three foreign-invested coal-fired power plants, worth a combined $7.5 billion.

Investors from Japan, South Korea and Saudi Arabia are anticipatedto secure licences to develop the projects.As perVietnam’s Ministry of Planning and Investment, South Korea-based Taekwang Powerand Saudi Arabian firm ACWA Power are expected to invest around $2.07 for the development of a 1,200MW thermal power plant.ACWA’s thermal power plant is expected to be operational in 2021.Japan-basedMarubeni and the Korea Electric are planning to invest around $2.79bn to develop 1,200MW facility, which is expected to be operational in 2021.Another Japan firm Sumitomo is planning to invest around $2.64bn to construct 1,320MW coal-fired power plant, which would be operational in 2022.The Vietnamese government has granted approval for South Korean firm Posco Energy to develop coal-fired thermal power plant, with an investment of around $2.5bn.The construction on the project is expected to start in 2022, and is slated to begin operations in 2026.Vietnam is expected to have more than 64 coal-fired power plants with an installed capacity of around 56,325MW by 2030.Currently, around 26 coal-fired power plants with an installed capacity of about 13,810MW are operational, while other 15 projects are under development in the country.In April this year, The World Bank approved a$102m loan to the Vietnamese government to adopt energy-efficiency technologies and practices across industrial enterprises.
Source: Reuters.com