Quang Binh approves adjusted power plant project

The People’s Committee of Quang Binh province has officially approved the revised investment policy for the Quang Trach II LNG Thermal Power Plant project.

Approved by the Government in 2021 as a coal-fired plant, the Quang Trach II project had an estimated total investment capital of over VND48 trillion ($1.9 billion) and a capacity of 1.200MW.

However, under the Power Development Plan VIII, the project has been transformed into an LNG-to-power plant, based on feedback from Central ministries and sectors, and local departments and authorities.

With the latest approval, the renamed Quang Trach II LNG Thermal Power Plant will have a higher capacity of 1,500MW, utilizing combined cycle gas turbine (CCGT) technology. The project now has an investment of VND52.490 trillion ($2.12 billion), with 20% funded by Vietnam Electricity (EVN) equity and 80% from loans.

The project aims to supply electricity to the national grid, ensuring the safety of the power supply system, meeting the requirements of the Power Development Plan VIII, and reducing harmful emissions, thereby contributing to environmental protection.

The switch from coal to LNG aligns with the country’s policy of diversifying power sources and prioritizing new, renewable, clean energy while reducing coal-fired power and the import of materials for power plants, according to EVN.

EVN plans to complete the project's feasibility study in the first quarter of 2025, begin construction in Q3 2025, run the first turbine in Q4 2028, operate the second turbine in Q1 2029, and complete the project by 2030.

Once operational, the power plant will supply nine billion kWh annually, supporting the growth of Quang Binh province and the north-central region of Vietnam.

Deputy Chairman of the Quang Binh Provincial People's Committee Phan Phong Phu, stated that the Quang Trach II LNG Thermal Power Plant is a key project for the province. It plays a crucial role in ensuring national energy security, especially as the country moves towards sustainable growth goals and transitions to cleaner energy sources, reducing CO2 emissions. This aligns with Vietnam's commitment to environmental protection and climate change response.

“Upon completion, the project will significantly contribute to the province’s budget revenue, create thousands of direct and indirect jobs, and serve as a catalyst for attracting investment projects, thereby promoting the socio-economic development of Quang Binh province,” he said.