Korea Electric Power Corporation (KEPCO) has decided to participate in the 1.2G W Vung Ang 2 coal-fired power project in Vietnam, investing USD 189 million to acquire a 40% stake. Once the Vietnamese government officially approves KEPCO’s participation, Samsung C&T and Doosan Heavy Industries will be in charge of the engineering, procurement, construction aspects of the project, and the Export-Import Bank of Korea will provide loans and guarantees.
Construction work will start in 2021. The plant, comprising two 600 MW turbines, is located in Ha Tinh Province, 300 km south of Hanoi, Vietnam. The first unit is expected to be commissioned in 2024, and the second in 2025. Both will be fueled by imported hard coal (anthracite). KEPCO will operate the plant for 25 years.
The Korean power giant said it will implement new technologies to minimize carbon emissions and install additional eco-friendly facilities for the Vung Ang 2 power plant.
(Sources: Nhip Cau Dau Tu Magazine; The Korea Times; The Asset)