O Mon 1 thermal power plant (Photo: VNA).
The EVN is expected to pour 9.9 trillion VND (428.2 million USD) into the project and the rest 17.67 trillion VND (762.29 triệu USD) will be mobilised from other sources.
The project covers 8,342 hectares of land and is valid for 31 years since the decision for leasing land came into effect (2021-2052).
Work on the facility is scheduled to start in the first quarter of 2025. It is expected to receive gas in the third quarter of 2027 and generate electricity for the national power grid in the last quarter of that year.
Operation centre of O Mon I thermal power plant (Photo: VNA)
Once completed, the plant will provide electricity for the southern region and help ensure a stable supply for the country.
The EVN is also the investor of the O Mon I thermal power plant project with a capacity of 660 MW and the O Mon IV thermal power plant project with a capacity of 1,050 MW.
O Mon III Thermal Power Plant Project has a capacity of 1,050 MW with a total preliminary investment cost estimate of about 25 trillion VND, and O Mon IV Thermal Power Plant Project has a total preliminary investment cost estimate of about 29 trillion VND. These gas-fueled power projects are located in the O Mon Power Complex in Can Tho city, where site areas have been arranged for project construction. Both projects are important in ensuring the south's power supply in the coming years.
Meanwhile, the 1,050 MW O Mon II thermal power plant project is invested by a joint venture between Vietnam Trading Engineering Construction JSC (Vietracimex) and Marubeni Corporation from Japan.
The O Mon Power Complex comprises of four power plants. The O Mon 1 plant, which has a capacity of 660 MW, is already operational.
EVN was established by decision No. 562/QD-TTg dated October 10, 1994. It has been the investor of many large-scale projects in Vietnam.
By 2020, EVN has received and sold electricity directly in 11/12 island districts, 82/85 island communes. The six island districts are powered by the national power grid, which are Van Don, Co To (Quang Ninh province), Cat Hai (Hai Phong city), Ly Son (Quang Ngai province), Phu Quoc, Kien Hai (Kien Giang province). Five island districts are powered by on-site sources (combining diesel generators with solar and wind power) namely Bach Long Vy (Hai Phong), Con Co (Quang Tri province), Truong Sa (Khanh Hoa province), Phu Quy (Binh Thuan province), Con Dao (Ba Ria-Vung Tau province).
EVN expects to put into operation around 5,500 MW of electricity from renewables, with 4,000 MW from wind power and 1,500 MW from solar power by 2025, to prevent a shortage of power, especially in northern localities.
The group has also asked the Government for permission to develop offshore wind power in the northern region to increase electricity supply for the region and ensure national power security.
According to its development orientation to 2045, the EVN will invest in the development of power sources and grids following the approved planning to ensure quality, progress and efficiency. The group prioritises access to advanced technology for safety, reliability and environmental protection. The technology of existing coal power plants is set to be reviewed for updating to meet the requirement for environmental protection.
Earlier last year, the group received approval from the Prime Minister to invest in Quang Trach II Thermal Power Plant project in Hon La Economic Zone, central Quang Binh province.
The project has a capacity of 1,200 MW with a total preliminary investment value of approximately 48.156 trillion VND (2.1 billion USD). Of this, the firm’s equity will be more than 9.634 trillion VND (418.87 million USD), accounting for 20% of the total investment value, while its debts will be roughly around 38.525 trillion VND (1.68 billion USD). The first unit of Quang Trach II Thermal Power Plant is expected to go into commercial operation in 2028, and the second unit will operate in the following year.