AES - the leading US energy corporation has just announced the final sale of 51% of its shares in Mong Duong 2 Thermal Power Plant to a partner from the Czech Republic.

thermal power.jpg
The investor of Mong Duong 2 BOT Thermal Power Project is a limited liability company established by AES Corporation (USA), Posco Energy Corporation (Korea) and China Investment Corporation (CIC).

Specifically, AES said it has reached an agreement with Se.ven Global Investments to sell a 51% stake in the Mong Duong 2 thermal power plant in Vietnam. After receiving approval from the Vietnamese Government and the Ministry of Industry and Trade, the transaction is expected to close by the end of 2025.

Mong Duong 2 Thermal Power Plant with a capacity of 1,242 MW has been operating since 2015, supplying electricity to Hanoi and the North under a 25-year Power Purchase Agreement (PPA) with Vietnam Electricity Group (EVN).

AES Mong Duong Power Company Limited - the operator of Mong Duong 2 Thermal Power Plant, formerly known as AES-TKV Mong Duong Power Company Limited. The investor of Mong Duong 2 BOT Thermal Power Project, is a limited liability company established by AES Corporation (USA), Posco Energy Corporation (Korea) and China Investment Corporation (CIC).

From April 17, 2020, the Company officially changed its name from AES-TKV Mong Duong Power Company Limited to AES Mong Duong Power Company Limited.

Currently, AES has many "huge" electricity plans in Vietnam.

In July 2023, the Son My LNG Terminal Project Company, a joint venture between AES Group and PetroVietnam Gas Corporation (PV Gas), was granted the Decision approving the investment policy for the Son My LNG Terminal Project by the People's Committee of Binh Thuan province.

The Son My LNG Terminal Project will be located in Binh Thuan Province, in the South Central region of Vietnam. The terminal has an installed capacity of 450 TBtu and is expected to begin commercial operations in 2027.

In February 2023, AES received the Decision approving the investment policy for the Son My 2 Combined Cycle Gas Turbine Project (CCGT) from Minister of Industry and Trade Nguyen Hong Dien.

The Son My 2 CCGT gas-fired power plant has a total capacity of 2.2 GW and will be located in Binh Thuan province. With a total investment value of about 1.8 billion USD, the plant will have a power sale contract for 20 years.

Nam Dinh wants to convert a coal power project worth over 2 billion USD into an LNG power project . The Nam Dinh 1 BOT Coal Power Plant project in Hai Hau district has been "suspended" for more than 6 years. Nam Dinh provincial leaders said they want to switch to an LNG power project.