Business

US power company wants to invest in gas-fired power project

The US-based power company AES Corporation said it wants to join the PetroVietnam Gas JSC (PV Gas) in the Son My 2 gas-fired thermal power project.
US power company wants to invest in gas-fired power project ảnh 1Illustrative photo (Source: VNA)

Hanoi (VNA) – The US-based power company AESCorporation said it wants to join the PetroVietnam Gas JSC (PV Gas) in the SonMy 2 gas-fired thermal power project.

The proposal was made by President of AES Vietnam DavidStone during a recent working session with PetroVietnam group.

PetroVietnam deputy director general Nguyen Hung Dungaffirmed that the group is ready to work with US investors, including AES, inthe oil and gas sector, especially gas-fired thermal power projects.

The Son My 2 is one of the nine gas-fuelled power projectsthat the Government has assigned PetroVietnam to invest in. The projectconsists of three power plants using liquefied natural gas, with designedcapacity of 750 MW each. Built at the Son My industry-services-gas complex inthe central coastal province of Binh Thuan, the facilities are set to becomeoperational in 2023, 2024 and 2025.

The AES, which is listed in the US Fortune-200, joined shareholdersfrom subsidiaries of Posco Energy Corporation from the Republic of Korea andChina Investment Corporation to form the AES-VCM Mong Duong Power CompanyLimited in Vietnam.

The company is known for its 1,242 MW Mong Duong 2 power plant.The coal-fired power project plant was built under a Build-Operate-Transfer(BOT) agreement and would be transferred to the government after 25 years.-VNA
VNA
#PV Gas #AES Corporation #PetroVietnam Gas JSC #AES Vietnam #David Stone #PetroVietnam #Nguyen Hung Dung #gas-fired thermal power projects in Vietnam #Son My 2 gas-fired thermal power project #Vietnam #Vietnam News Agency #vietnamplus United States
Follow VietnamPlus

Related News

Decision paves way for solar power development

Decision paves way for solar power development

Opportunities to invest in Vietnam’s solar energy sector are abundant after Prime Minister Nguyen Xuan Phuc issued a decision to encourage the development of solar power projects.

See more

HCM City is now a regional specialised financial centre (Photo: VNA)

Vietnam should be flexible in selecting financial centre models: expert

Tuan also highlighted the importance of human capital, one of the five important factors to successfully build a financial centre, citing the Global Financial Centres Index, which ranks business environment, human capital, infrastructure, market development, and reputation as the key drivers of success.

Minister of Industry and Trade Nguyen Hong Dien (L) and US Secretary of Energy Chris Wright in Washington D.C. on March 13. (Photo: VOV)

Vietnam, US look to strengthen comprehensive energy cooperation

Vietnam’s consistent policy is to foster a balanced, sustainable, stable, and win-win economic relationship with the US, the minister stated. Vietnam does not intend to create any barriers that could negatively impact the US’s workers or its economic and national security, Minister of Industry and Trade Nguyen Hong Dien said.

Deputy Prime Minister Nguyen Chi Dung speaks at the first meeting of the steering committee for the building of a project on the private economic sector's development in Hanoi on March 15. (Photo: VNA)

Private sector's development key to Vietnam’s economic growth

Currently, the private economic sector comprises over 6.1 million business establishments, including approximately 940,000 registered enterprises and over 5.2 million household businesses. The sector contributes around 50% of the country’s GDP, accounts for over 56% of total social investment, employs approximately 82% of the workforce, and generates around 30% of state budget revenue and more than 30% of total import-export turnover.

Prime Minister Pham Minh Chinh receives Wouter Van Wersch, Executive Vice President of Airbus International. (Photo: VNA)

PM suggests Airbus help Vietnam in developing aviation ecosystem

During a meeting on March 14 with Wouter Van Wersch, Executive Vice President International of Airbus, Prime Minister Pham Minh Chinh praised the aerospace giant’s cooperation with Vietnamese partners, emphasising its role in boosting domestic and international connectivity and driving Vietnam’s socio-economic growth.

The Vietnam Consumer Rights Day 2025 is under the theme "Transparent Information – Responsible Consumption". (Photo: VNA)

Hanoi launches campaign for Consumer Rights Day

The event, organised by the city's Department of Industry and Trade, aimed to promote consumer protection as a long-term, essential task for all levels of government, businesses and society.