Representatives of EVN and Hiep Phuoc Power Company Limited signing Power Purchase Agreement (PPA) for Hiep Phuoc LNG Power Plant Project – Phase I.

This is the second PPA in the LNG power sector in Vietnam, following the Nhon Trach 3 & 4 project, and also the first LNG PPA implemented under Government Decree No. 56/2025/ND-CP dated March 3, 2025 (as amended and supplemented by Decree No. 100/2025/ND-CP dated May 8, 2025) on preferential mechanisms for the development of power plant projects using imported LNG. This event marks an important step in completing the legal framework and promoting the development of LNG power projects in Vietnam.

The Hiep Phuoc LNG Power Plant – Phase I is a key national project, invested by Hiep Phuoc Power Company Limited, implemented under the Build-Operate-Own (BOO) model, with a total investment of approximately VND 18,911 billion (equivalent to USD 892 million) and an installed capacity of 1,200MW. The project utilizes advanced gas turbine technology supplied by Siemens (Germany), achieving high efficiency while contributing to optimized operations and lower emissions.

Representatives performing groundbreaking ceremony for Hiep Phuoc LNG Power Plant – Phase I project

Speaking at the event, representatives emphasized that the signing of the PPA and the groundbreaking ceremony not only demonstrate a strong commitment to developing cleaner and more flexible power sources but also contribute to ensuring national energy security in the context of ever-increasing power demand.

It is expected that, upon entering commercial operation, the Hiep Phuoc LNG Power Plant – Phase I will supply more than 7 billion kWh of electricity annually to the national power grid, thereby making a significant contribution to ensuring a stable power supply for the country’s socio-economic development.

Translator: Hải Yến