EVN supports Power Generation Corporation 1 to build Quang Tri thermal power plant with more than 2 billion dollars

Vietnam Electricity Group assessed that Power Generation Corporation 1 has the capacity, experience, capital... to invest and operate thermal power plants, so it proposed to let this unit be the investor of Quang Tri thermal power plant.

Power Generation Corporation 1 works with leaders of Quang Tri province on the Quang Tri thermal power plant project - Photo: TIEN NHAT

On February 12, the Office of the People's Committee of Quang Tri province said it had just received a document from Vietnam Electricity Group sent to the Ministry of Industry and Trade and the People's Committee of Quang Tri province regarding the assignment as the investor of the Quang Tri thermal power plant.

More than 9% of the total system electricity output

Accordingly, EVN proposed that the Ministry of Industry and Trade and the People's Committee of Quang Tri province report to the Prime Minister to consider assigning Power Generation Corporation 1 (EVNGENCO1 - a unit 100% owned by EVN) as the investor of the Quang Tri thermal power plant project, and at the same time allow the project to continue to be implemented to meet the 2030 operation schedule, promptly supplementing power sources for the national power system.

This group assessed that EVNGENCO1 has a team of experienced staff and has implemented the Duyen Hai 1 thermal power projects (2x622.5MW), Duyen Hai 3 (2x622.5MW), Duyen Hai 3 expansion (688MW), Nghi Son 1 (2x300MW)...

Up to now, the projects invested and managed by EVNGENCO1 have all been completed and put into use.

By the end of 2024, the total power capacity of EVNGENCO1 will be 7,844.5MW, of which thermal power is 5,608MW, hydropower is 2,189MW... In terms of output, EVNGENCO1 accounts for about 9.3% of the total power output of the system.

All power source projects in EVNGENCO1 have been put into operation and generated commercial electricity, but to date, no new power sources have been assigned for implementation in the near future.

Quang Tri thermal power plant project deployed in coastal sandy area of ​​Hai Lang district - Photo: HOANG TAO

Committed to operating by the end of 2030

In the case of being assigned as the investor of a coal-fired thermal power project such as the Quang Tri thermal power plant with a capacity of 1,320 MW, it will take advantage of a team of professional project managers with extensive experience in implementing recent coal-fired thermal power projects of similar scale.

At the same time, if EVNGENCO1 accepts investment in the Quang Tri thermal power plant project, it will accelerate the project's progress to supplement the national power supply.

EVNGENCO1 has a relatively large cash flow surplus, basically meeting the counterpart capital needs to implement the project on schedule, expected to be commercially operational in the fourth quarter of 2030.

Based on the above assessments and analyses, EVN finds that assigning EVNGENCO1 as the investor of the Quang Tri thermal power plant project is in accordance with the provisions of the Electricity Law and Notice No. 10/TB-BCT of the Ministry of Industry and Trade.

With its capacity and experience in investment, project management and operation of thermal power plants, EVNGENCO1 wishes to be assigned as the project investor and commits to implementing the project on schedule, ensuring investment efficiency, contributing to providing electricity for the socio-economic development of the country in general and the South Central region in particular.

Therefore, Vietnam Electricity Group requests the Ministry of Industry and Trade and the People's Committee of Quang Tri province to consider reporting to the Prime Minister to assign EVNGENCO1 as the investor of the Quang Tri thermal power plant project in the case of an emergency power project or construction as prescribed in the Electricity Law 2024.

Quang Tri Thermal Power Plant with a capacity of 1,320 MW has been updated in the list of slow-progressing coal-fired thermal power projects under the National Power Development Plan for the 2021-2030 period, with a vision to 2050 (Power Plan VIII).

In August 2013, the Prime Minister approved the project for the Thai Electricity Generating Authority International (EGATi) to be the investor and implemented under the build-operate-transfer (BOT) model, with a total investment of over VND55,000 billion (over USD2 billion).

By July 2024, the Ministry of Industry and Trade agreed to let EGATi stop this project. Therefore, the project has no investor yet.

Source: https://tuoitre.vn/evn-ung-ho-tong-cong-ty-phat-dien-1-lam-nhiet-dien-quang-tri-55-000-ti-dong-20250212211959419.htm