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PV Power looks for financial support in thermal power projects

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PetroVietnam Power Corporation (PV Power) wants to raise US$1.4 billion for its Nhơn Trạch 3 & 4 thermal power plants.

Nhơn Trạch 2 Thermal Power Plant, a sub-unit of PetroVietnam Power Corporation (PV Power). — Photo cafef.vn

 

 

Thirty per cent of the capital will be provided by PV Power, and the remaining borrowed from either local commercial banks or international financial institutions.

The money will be disbursed over the next five years and seven local commercial banks have committed to provide VNĐ25 trillion ($1.07 billion) for the projects, according to PV Power general director Nguyễn Duy Giang.

PV Power has also worked with financial organisations from Europe, Japan and other countries and the company has been promised $400 million worth of loans without Government’s guarantees.

Nhơn Trạch 3 and 4 thermal power plants will be equipped with the mixed-flow gas turbine technology, using liquefied natural gas (LNG).

The two power plants have capacity of 1,500 megawatts each and they are being built at Ông Kèo Industrial Park in Đồng Nai Province’s Nhơn Trạch District.

The plants are projected to meet rising power demand in HCM City, Đồng Nai and Bà Rịa-Vũng Tàu provinces.

 

Source: VNS

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