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AES granted approval to develop 2.2 GW gas power plant in Vietnam

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LNG Industry,

AES Corp. has announced it has been granted approval by the Government of Vietnam to develop a 2.2 GW combined cycle gas turbine (CCGT) power plant, which will 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.

AES claims that Son My 2 complements its investment plans in Vietnamese gas infrastructure with its previously announced 450 TBtu Son My LNG terminal, which received approval from the Government of Vietnam in August this year. Together, AES claims the plant and terminal will play a key role in shaping the country’s energy future by diversifying the energy mix with imported LNG, as well as meeting the country’s increasing demand for both sustainable and affordable electricity.

Andrés Gluski, AES President and Chief Executive Officer, 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.”

According to the statement, this latest approval represents a key milestone in the development of the CCGT plant and the LNG terminal, allowing the company to move forward with the necessary permitting and associated project agreements.

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