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AES receives letter of intent from Trump and OPIC

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US President Donald J. Trump, Vietnamese President Tran Dai Quang, and Overseas Private Investment Corporation (OPIC) President and Chief Executive Officer Ray W. Washburne have presented a letter of intent to Virginia-based energy company AES.

The letter supports the construction of a LNG terminal plant and 2250MW combined cycle power plant in Vietnam which would provide around 5% of the country’s power generation capacity and support its continued economic development. The presentation took place at the Presidential Palace in Hanoi.

"This project is in line with OPIC's initiative to promote the expansion of LNG markets in the Indo-Pacific region,” said Washburne. "We are excited about the opportunity to support AES and look forward to facilitating critical investment into Vietnam's energy infrastructure and supply,” added Washburne.

“With this project, AES plans to leverage from our experience and replicate the success of our LNG businesses in Central America and the Caribbean,” said President of AES' Eurasia Strategic Business Unit Mark Green. “AES has been partnering with OPIC on various state-of-the-art power generation projects around the world and is grateful for the agency’s expertise and support with this new project in Vietnam,” Green added.

The project will help bring sustainable and cost-effective energy to Vietnam, while at the same time satisfying a growing demand for electricity and need for natural gas in Asia. Creating sustainable energy solutions, including renewables and natural gas, contribute to economic and social development. Integration of multiple sources of energy will help ensure reliability of energy supply as the country continues to develop.

OPIC President and Chief Executive Officer Ray W. Washburne is traveling throughout Asia, including Japan and Vietnam, in conjunction with President Trump’s visit to the region.

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