South Korea’s Doosan Group is interested in working with Vietnam Electricity (EVN) to develop the liquefied natural gas (LNG) Quang Trach 2 project and other renewable energy projects.
This was according to sentiments expressed by Kim Bong Jun, deputy general director of Doosan, during a meeting between the South Korean delegation and EVN in April.
EVN general director Nguyen Anh Tuan said, “Doosan can participate in the bidding for some of the project’s main packages as soon as EVN completes regulatory approval procedures.”
The project is part of Quang Trach Power Centre in the central coastal province of Quang Binh, which includes the Quang Trach 1 coal-fired power plant, also being developed by EVN.
The government approved the Quang Trach 2 project in 2021, initially as a coal-fired plant, with EVN assigned as the developer. The initial estimated cost was VND48.2 trillion ($1.9 billion), with 20 per cent coming from EVN equity and 80 per cent from loans.
Quang Trach 2 was approved under Power Development Plan VIII to transform into an LNG-to-power project, with a higher capacity of 1,500MW. EVN is now working with Quang Binh to update the project’s legal documents for the change. Last August, the Ministry of Industry and Trade asked relevant sides to speed up Quang Trach 2 to begin construction at the end of 2024.
In addition, earlier this year, Quang Binh People’s Committee also asked Quang Trach District People’s Committee to resolve pending issues relating to land clearance, compensations, and resettlement so that EVN can start construction on time.
Doosan wants to expand its eco-friendly energy portfolio in Vietnam, as one of its future strategies is to enter the potential clean energy market here. The South Korean group signed an MoU on pursuing eco-friendly fuel conversion projects with three local operators of thermal power plants in Vietnam last June.
