Vietnam Awards $974 Million Contract for 1.6-GW LNG Power Plant

Vietnam has awarded a $974 million EPC contract to build the 1.6-GW Quang Trach II LNG power plant as the country ramps up gas-fired generation to support economic growth and energy security.

(Reuters) — Vietnam's state utility EVN has awarded a contract worth $974 million to a consortium of PowerChina and Lilama for building an LNG-fired power plant, EVN said on Feb. 9.

The Quang Trach II plant in the central province of Quang Tri will have a capacity of 1,612 megawatts, EVN said in a statement.

The Southeast Asian country is seeking to ramp up its power generation capacity to keep up with its expanding economy, which grew 8% last year.

"This plant will contribute to ensuring energy security, improving the reliability of the power system, and fulfilling Vietnam's commitments to reducing greenhouse gas emissions," EVN said.

Vietnam, where coal power plants are responsible for more than 40% of electricity output, has committed to achieving net-zero emissions by 2050.

The plant will use turbines from General Electric Vernova, EVN said. It said last month the plant would be fully operational by 2030.