Unstable progress at the project of "big guy" TKV
Vietnam National Coal and Mineral Industries Group (TKV) is constructing the 110MW Na Duong II Thermal Power Plant in Lang Son. The total investment is nearly 192 million USD, and upon completion, it is expected to supply about 650 million kWh/year to the national grid.
The project started in 2015 but progress is still uncertain.
Regarding the EPC package of the main plant, Electricity Corporation - TKV signed the EPC contract, however, the EPC contractor did not implement it, leading to the project not being able to meet the required progress.
The Electricity Corporation - TKV has issued a second invitation to bid as prescribed, but by the time of closing the bid (after an extension to June 27, 2022), there were still no bidders submitting bid documents. Based on the assessment of the actual situation, the corporation decided to cancel the EPC package on June 27, 2022 and re-evaluate the requirements of the invitation to bid documents to develop a plan for continued implementation in the coming time.
BOT projects
Currently, the Ministry of Industry and Trade is monitoring 20 thermal power plant projects invested in the form of build-operate-transfer (BOT), including newly added plants implemented in this form, with a total capacity of about more than 26,000 MW.
Notably, in the North, the Nam Dinh 1 BOT Project is in the process of negotiating and finalizing project contracts. The project capacity is 2x600 MW, with an investment capital of 2.239 billion USD. On July 2, 2017, the project was officially granted an investment registration certificate by the Ministry of Planning and Investment.
The project is invested by a joint venture between Taekwang Power Group (Korea) and Acwa Power (Saudi Arabia), through the legal entity Nam Dinh First Power Company Limited (headquartered in Singapore).
However, the project remains inactive until now.
Independent Power Projects (IPP)
There are 10 projects over 100 MW being invested in and constructed under the IPP model with a total capacity of 11,092 MW. These projects are currently behind schedule due to many long-standing problems.
The implementation status of some projects under construction is as follows:
An Khanh Thermal Power Project, Bac Giang (1x650 MW)
The investor is continuing to complete loan procedures to pay for the EPC contract from MB (lead bank) and co-financiers, and is expected to disburse the first loan in the first quarter of 2023.
Up to now, the project has basically completed compensation and site clearance for the main factory and auxiliary works, and is continuing to complete the second phase of land lease procedures. For the ash and slag dump area and conveyor belt corridor, An Khanh Bac Giang Thermal Power Joint Stock Company is completing procedures to implement compensation and site clearance.
Hoi Xuan Hydropower Project (102 MW), Thanh Hoa
The project has an investment capital of about 3,300 billion VND, started in March 2010, and is expected to supply 328.49 million kWh to the national power system annually. But after 13 years, the project is still not completed.
The main construction items have reached over 98% of the volume. VNECO Hoi Xuan Power Investment and Construction Joint Stock Company has resumed construction since November 2022, including the following works: completing the factory architecture, constructing a traffic bridge over the spillway.
The project investor commits to completing and operating the factory by the end of the first quarter of 2024.
But in the document dated June 12, the Ministry of Industry and Trade said: The Ministry has received 3 reports from VNECO Hoi Xuan. However, the company has only proposed a financial plan to supplement capital to continue implementing the remaining work of the project. The financial plan is being reviewed and appraised by the Vietnam Bank for Agriculture and Rural Development and to date, the loan has not been disbursed to the investor to have funds to implement the project.
According to the Department of Industry and Trade of Thanh Hoa province, after the meeting on March 9, 2023, the locality has not yet received funds from the investor to continue implementing compensation, support, and resettlement for households in the affected area.
Cong Thanh Thermal Power Project (1x600 MW), Thanh Hoa
The project was granted an Investment Registration Certificate on November 4, 2010, and the second adjustment was made on June 5, 2018. At that time, the project was scheduled to be put into commercial operation in December 2020.
However, the project has basically completed the compensation, site clearance and leveling of the main factory to the designed elevation of the main factory, and has built the fence of the main factory and the general contractor's operating house...
The project encountered many difficulties in arranging capital, the investor and the People's Committee of Thanh Hoa province proposed to convert fuel to LNG and increase capacity to 1,500 MW. After consideration, the Ministry of Industry and Trade found that it could allow the conversion with the approved capacity scale of 600 MW and submitted in the Power Plan VIII.
According to the adjusted Power Plan VII, the total capacity of power sources (excluding renewable energy sources) being prepared for investment or being invested in 2023 is 52 projects with a total capacity of about 57,492 MW. Of which, EVN implemented 10 projects/8,240 MW; Vietnam Oil and Gas Group (PVN) implemented 8 projects/6,900 MW; TKV implemented 4 projects/2,730 MW; BOT had 13 projects/18,330 MW; IPP had 14 projects (over 100 MW)/17,092 MW and 3 projects/4,200 MW had no investors. |
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