EVN announced this in a statement on Friday.
The utility said this is the second PPA in the LNG power sector in Vietnam, following the Nhon Trach 3 & 4 project, operated by PV Power, a unit of state-owned PetroVietnam.
The first phase of Hiep Phuoc LNG power plant, invested by Hiep Phuoc Power, and implemented under the build-operate-own (BOO) investment model, will cost approximately $892 million.
It will have an installed capacity of 1,200 MW.
EVN noted that the project utilizes modern gas turbine technology supplied by Germany’s Siemens (Germany).
In 2019, Siemens announced it would provide the equipment, including three SGT5-4000F gas turbines, to upgrade the Hiep Phuoc 1 steam power plant in Ho Chi Minh City, Vietnam, into a combined-cycle power plant.
Once it enters commercial operation, the Hiep Phuoc LNG power plant – Phase I is expected to supply over 7 billion kWh of commercial electricity annually to the national power grid, EVN said.
EVN did not say when the project is expected to be completed.
Last year’s reports suggest that the completion is expected in 2027.
EVN recently also awarded an EPC contract to a consortium of PowerChina and Lilama for its Quang Trach II LNG power plant in the province of Quang Binh.
According to EVN, the contract is worth 25.2 trillion Vietnamese dong ($973 million).
The LNG power plant will have a capacity of 1,612 MW, consisting of two 806 MW units.
It will have turbines from General Electric Vernova.
