EVN signs PPA for Hiep Phuoc LNG power plant project

This is the second PPA in the LNG power sector in Vietnam, following the Nhon Trach 3 & 4 project, and also the first LNG PPA implemented under Government Decree No. 56/2025/ND-CP dated 3 March 2025 (as amended and supplemented by Decree No. 100/2025/ND-CP dated 8 May 2025) on preferential mechanisms for the development of power plant projects using imported LNG. This event marks an important step in completing the legal framework and promoting the development of LNG power projects in Vietnam.

The Hiep Phuoc LNG power plant – Phase I is a key national project, invested by Hiep Phuoc Power Co. Ltd, implemented under the build-operate-own (BOO) model, with a total investment of approximately VND 18 911 billion (equivalent to US$892 million) and an installed capacity of 1200 MW. The project utilises advanced gas turbine technology supplied by Siemens, achieving high efficiency while contributing to optimised operations and lower emissions.

Speaking at the event, representatives emphasised that the signing of the PPA and the groundbreaking ceremony not only demonstrate a strong commitment to developing cleaner and more flexible power sources, but also contribute to ensuring national energy security in the context of ever-increasing power demand.

It is expected that, upon entering commercial operation, the Hiep Phuoc LNG power plant – Phase I will supply more than 7 billion kWh of electricity annually to the national power grid, thereby making a significant contribution to ensuring a stable power supply for the country’s socio-economic development.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/30032026/evn-signs-ppa-for-hiep-phuoc-lng-power-plant-project/