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    EVN to take over BOT Phu My 3 thermal power next year

    September 12, 2023 - Vietnam Investment Review (VIR)


      The Ministry of Industry and Trade and the operator reached a compromise to transfer BOT Phu My 3 thermal power plant to EVN in March 2024 and BOT Phu My 2.2 in February 2025.

      EVN to take over BOT Phu My 3 thermal power in March 2024

      To prepare for the transfer after the build-operate-transfer (BOT) is expired, the Ministry of Industry and Trade (MoIT) will implement the pilot operation in November to test the operation standard under the supervision of EVN before being handed over to the new operator.

      For BOT Phu My 2.2, the MoIT asked Mekong Energy Co., Ltd to collaborate with EVN to complete and implement training programmes for the new labour force.

      Earlier in mid-August, the MoIT finalised the report on the transfer and receipt of the power plants and then made a report to the Prime Minister for approval.

      The Deputy Prime Minister asked the MoIT to carefully study the provisions of the law on investment in the form of public-private partnerships, the law on public property, and other relevant laws to clarify the legal basis, and authority and make proposals in accordance with regulations and competence of the transfer and take-over of BOT power plants, ensuring timely, strict, safe, and continuous operation of two plants.

      At the same time, it is required to clearly report the legal basis and practice for assigning EVN to operate the plants.

      The Phu My 3 BOT thermal power plant, located in Ba Ria - Vung Tau is designed with a contracted capacity of 716.8MW. The project contract and BOT contract were signed by the MoIT with the investor on May 22, 2001.

      The plant started commercial operation in 2004, with a term of 20 years, and was transferred without compensation to the Vietnamese side in March 2024, after the expiration of the contract

      Phu My 2.2 BOT project, also located in Ba Ria Vung Tau, is invested by EDFI, Summit Global Management II B.V, and TEPCI, with a capacity of 715MW. The BOT contract was signed in 2001, and operated in 2005. It is scheduled to be transferred to the Vietnamese side in February 2025 after the 20-year contract expires.

      $2 billion Nam Dinh 1 thermal power plant could resume this year

      The long-delayed Nam Dinh 1 thermal power plant could get back on track by the end of 2023 thanks to the investor's determination.

      Van Phong 1 up and running sooner than expectated

      The Van Phong 1 thermal power plant, thanks to a $2.58 billion investment from Sumitomo Corporation, will start operation of its first turbine at full capacity in August, sooner than expected., with a second turbine set to be up and running by the end of the year.

      Thai investor suspends $2.3 billion thermal power plant project in Quang Tri

      Thai International Power Company (EGATi) has submitted a document to Vietnam's Ministry of Industry and Trade (MoIT) regarding the suspension of the Quang Tri Build-Operate-Transfer (BOT) Thermal Power Plant project.

      Commitment made to bring Nghi Son LNG thermal power plant into operation in 2030

      Japanese energy giant JERA is committed to bringing Nghi Son liquefied natural gas (LNG) thermal power plant into commercial operation by the end of 2030, helping to ensure energy security in the northern region and achieve Vietnam's commitment of reaching net-zero by 2050.

      By Thanh Huong


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