PetroVietnam Power Corp (PV Power) is to start construction works for nine gas-fired power plants with combined output of 5,250 MW, as Vietnam continues to develop sufficient power to catch up with increased demand.

The nine power plants are Kien Giang 1, Kien Giang 2, Nhon Trach 3 and Nhon Trach 4, as well as Mien Trung 1, Mien Trung 2, Son My 2.1, Son My 2.2 and Son My 2.3.
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Gas sources for the plants will be from the Lo B O Mon and Ca Voi Xanh oil fields, along with imported gas. PetroVietnam has entrusted PV Gas to prepare imported sources to provide gas to the power plants.

PV Power is mapping out plans to obtain investment capital for the Nhon Trach 3 and Nhon Trach 4 plants. The capital for the two projects is estimated at some $1.4 billion and PV Power will have to get some 20 per cent of the total capital as partnership capital.

PV Power expects that partnership capital will come from its profits gained in the coming years besides capital gained from the sale of stake in its Hua Na, Dakdring, Nhon Trach 1 projects.

For the remaining seven projects, investment capital will come by increasing capital or by calling for more shareholders since at that time PV Power will become a joint stock company instead of PetroVietnam’s subsidiary, which it is, at present.

PV Power is the second largest power producer in Viet Nam after the Electricity of Viet Nam. Currently, it operates eight power plants –four gas-fired power plants, three hydropower plants and one coal-fired thermal plant — with total designed capacity of 4,208MW.