Nam Dinh I signs BOT contract, targets commercial operations in 2030
The 1,200 MW thermal power development still needs financing arrangements and agreements on electricity purchases, land and fuel.
A build-operate-transfer (BOT) contract has been signed for Vietnam’s Nam Dinh I thermal power development, whose investor has committed to commercial operations in 2030. South Korea’s TKG Taekwang Group backs the delayed 1,200 MW project.
At the Hanoi signing ceremony hosted by the Ministry of Industry and Trade, Deputy Minister Truong Thanh Hoai urged the investors and project company to finalise financing. He also called for outstanding electricity purchase, land lease and fuel supply agreements to be completed, alongside investment, construction and environmental procedures.
The investor has pledged to lower emissions to a level comparable with LNG-fired generation and pay the additional costs involved. The plant is designed with two units of 600 MW each and is included in Vietnam’s revised Power Development Plan VIII.
The Electricity Authority of Vietnam said the project had largely met its principal legal, technical and commercial conditions. Its director, Nguyen Duc Cuong, said previously agreed terms initialled in compliance with the law would remain unchanged rather than be reopened for negotiation.
Hoai asked mining group TKV to review the coal supply contract and prepare fuel sources, transport and handling arrangements. He directed Electricity of Vietnam to conclude the power purchase agreement soon and coordinate grid connection, while asking Ninh Binh authorities to speed up land procedures, compensation, clearance and resettlement.
An investment registration certificate was issued on June 15, 2017. The development was awarded to Taekwang Power and Acwa Power through their Singapore-based project company, Nam Dinh First Power Co. Ltd.
