Along with Nghi Son Refinery and Petrochemical Plant meeting about 35% of the country's petroleum demand, Nghi Son Thermal Power Center with an annual capacity of 11.4 billion kWh to the national grid and the system of petroleum depots, Thanh Hoa is making new decisions and new actions in attracting investment and developing energy projects, with the expectation of realizing the goal of becoming the country's energy center in the near future.
Nghi Son Thermal Power Center supplies 11.4 billion kWh annually to the national grid.
At the end of February 2024, the Provincial Party Standing Committee issued an official conclusion agreeing on the investment policy of the Nghi Son LNG Thermal Power Plant project in Nghi Son Economic Zone (KKTNS). This project with an estimated total investment capital of up to 2.4 billion USD is currently attracting the attention of 5 large groups of world-class investors and is expected to become a new driving force for Thanh Hoa's energy industry. Accordingly, the Nghi Son LNG Thermal Power Plant project includes a 1,500 MW LNG power plant, an LNG import port, a breakwater about 1km long and auxiliary infrastructure works such as LNG storage, regasification station, gas pipeline system from the regasification station to the LNG power plant... The land area for project implementation is about 68.2 hectares and will be deployed in the area south of Nghi Son port (Hai Ha commune, Nghi Son town). This is the third largest project in Thanh Hoa province, after the Nghi Son Refinery and Petrochemical Plant project and the Nghi Son 2 BOT Thermal Power Plant project. The selection of investors for the project is expected to be carried out in the second quarter of 2024 and the investment work is expected to be completed before 2030.
According to the Management Board of the Economic Zone and Industrial Zones, the project is currently attracting the attention of 5 groups of domestic and international investors. In which, the first group of investors includes JERA Co.Inc (the largest thermal power producer in Japan, also the largest LNG importer in the world) and Sovico Group Corporation; The second group of investors includes the South Korea Electric Power Corporation (KOSPO), the Korea Gas Corporation (KOGAS), the Daewoo Engineering and Construction Corporation (Daewoo E&C) and Anh Phat Construction and Trading Investment Corporation - JSC (APT); The third group of investors is the Vietnam Oil and Gas Power Corporation - JSC (PV Power) and T&T Group Corporation; The fourth investor is Gulf Energy Development Public Company Limited (Thailand's largest private power producer) and the fifth investor is a subsidiary of SK Group - one of the largest conglomerates in Korea operating in many fields such as chemicals, semiconductors, telecommunications and biotechnology.
According to economic experts, LNG electricity is a type of energy expected to help reduce carbon emissions, thereby minimizing negative impacts on the environment and atmosphere. Liquefied natural gas (LNG) is widely used in many fields, especially replacing dry gas to serve the gas needs of power plants. LNG electricity also has the advantage of flexibility, ensuring uninterrupted supply due to weather factors. LNG is also considered a "bridge fuel" in the transition from fossil energy to greener, cleaner, more environmentally friendly fuels, to ensure the goal of energy security for the sustainable development of countries. Investing in the LNG thermal power project in Thanh Hoa will not only contribute to ensuring national energy security, effectively serving socio-economic development, but also a trend that helps minimize negative impacts on the local environment.
In 2023 and early 2024, Thanh Hoa province and the investor also sent a document requesting the Prime Minister to consider and approve the conversion of coal fuel to LNG of Cong Thanh Thermal Power Plant in the NSZ and update it in the Plan for implementing the National Power Development Plan to 2030, with a vision to 2050. Accordingly, Thanh Hoa province proposed to convert the coal power project of Cong Thanh Thermal Power Joint Stock Company to LNG gas power with a capacity of 1,500 MW. This project will have an average annual grid output increasing from 3.9 billion kWh/year to 9 billion kWh/year with a total project investment of about 2 billion USD. If approved, the investor will immediately implement the project to operate and generate electricity, expected to be in 2028.
In addition, many large investors are also interested in investing in energy projects in Thanh Hoa, typically Energy Group is researching investment in a gas power plant and liquefied gas storage project with a total investment of 6 billion USD; Lee & Man Paper Production Company Limited is investing in a 250 MW biomass power plant.
Currently, in the province, there are 33 power source projects added to the planning with a total capacity of 5,033.2 MW, including: 23 hydropower projects (846.2 MW), 3 thermal power projects (2,400 MW), 1 LNG power project (1,500 MW), 3 solar power projects (235 MW), 2 projects generating electricity from residual heat of cement factories (34 MW), 1 waste-to-energy project (18 MW). In addition, a number of wind power, biomass power, and waste-to-energy projects are also being submitted by Thanh Hoa province to the Ministry of Industry and Trade for additional planning and inclusion in the Implementation Plan of Power Plan VIII, as a basis for the roadmap to attract investment in modern, large-scale, and environmentally friendly projects.
Article and photos: Minh Hang
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