Nghe An will select investors for a gas-fired power project worth more than 2.1 billion USD in the first quarter of 2025.

Pursuant to Notice No. 10/TB-BCT dated January 10, 2025 of the Ministry of Industry and Trade on the conclusion of the Minister of Industry and Trade at the Conference with localities and investors of power projects on the implementation of Directive No. 01/CT-TTg of the Prime Minister, Chairman of Nghe An Provincial People's Committee Le Hong Vinh assigned the Department of Planning and Investment to preside over and coordinate with the Department of Industry and Trade and relevant agencies to urgently carry out procedures to complete the approval of investment policy and selection of investors for the Quynh Lap LNG Thermal Power Plant project in the first quarter of 2025 in accordance with the procedures and regulations of law.

The Chairman of Nghe An Provincial People's Committee also assigned relevant departments, branches, localities and units according to their assigned functions and tasks to proactively organize implementation, promptly coordinate to complete power source and grid projects to ensure progress according to requirements in the approved Power Plan VIII.

Previously, on January 7, at the headquarters of the Ministry of Industry and Trade, Minister Nguyen Hong Dien chaired an online conference with localities and investors of power projects on the implementation of Directive No. 01/CT-TTg dated January 3, 2025 of the Prime Minister on proactive solutions to ensure adequate electricity supply for production, business and people's lives during peak periods in 2025 and the period 2026-2030.

After listening to the report of the Electricity and Renewable Energy Department and the opinions of the delegates attending the conference, the Minister of Industry and Trade concluded that ensuring national energy security and sufficient electricity supply for production, business and people's lives is one of the important factors, the foundation to ensure the breakthrough acceleration of the Vietnamese economy in 2025 and the following years.

To meet the demand for economic growth of the whole country in 2025 reaching over 8% and the period of 2026 - 2030 striving for double-digit economic growth, electricity must grow 1.5 times (ie the expected annual average increase from 12% to over 16%, corresponding to an additional 8,000 - 10,000 MW each year), along with that, the transmission system, especially transmission projects serving the release of inter-regional and intra-regional capacity, also need to be focused on accelerating the implementation progress with the drastic participation of central ministries, branches and localities.

In order to seriously and effectively implement Directive No. 01/CT-TTg dated January 3, 2025 of the Prime Minister, proactively deploy solutions early and remotely, and absolutely ensure that there is no power shortage in any situation, the Minister of Industry and Trade requested units, organizations, and localities to focus on implementing a number of key tasks well.

In particular, for power source projects that do not have investors, including projects in Thanh Hoa, Nghe An, Ninh Thuan, localities are requested to complete the selection of investors in the first quarter of 2025. Localities need to consider including the LNG port warehouse item in the scope of the power plant project to avoid delays in project approval/acceptance related to port planning procedures.

The Quynh Lap LNG Thermal Power Project will be implemented in Quynh Lap Commune, Hoang Mai Town, Nghe An Province with a capacity of 1,500 MW. This is one of the important and priority power source projects in the list attached to Decision No. 500/QD-TTg dated May 15, 2023 of the Prime Minister on approving the National Power Development Plan for the period 2021 - 2030, with a vision to 2050 (Power Plan VIII) and Decision No. 262/QD-TTg dated April 1, 2024 of the Prime Minister on approving the Plan to implement Power Plan VIII.

The project is implemented with a total investment of about 2.15 billion USD, including the following items: LNG power plant, gas storage, receiving port, breakwater and auxiliary works on a total area of ​​about 210 -360 hectares, LNG fuel demand of about 1.15 million tons/year and a port to receive ships with a tonnage of about 100,000 DWT. The project is expected to be put into commercial operation before 2030.