EVN takes over Phu My 2.2
EVN takes over Phu My 2.2
Vietnam Electricity (EVN) officially took over the running of the Phu My 2.2 build-operate-transfer (BOT) thermal power plant following a handover ceremony in Hanoi on February 4.
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Phu My 2.2 is located in the Phu My Thermal Power Plant complex, Ba Ria-Vung Tau province, with a capacity of 715MW. It is the first BOT undertaking awarded through an international tender fully funded by foreign investors.
The plant went into commercial operation in 2005 and, pursuant to the BOT contract, the plant has reached the end of its initial operational period. Phu My 2.2 has now been transferred to the Vietnamese authorities, who appointed EVN to operate it.
Phu My 2.2 has generated over 90 billion kWh over the past 20 years, ensuring electricity supply for production and daily life. The venture has also contributed to the socioeconomic development of Ba Ria-Vung Tau province and the surrounding southern localities.
EVN will continue to operate the plant effectively post takeover. It is expected that the plant will contribute about 4.6 billion kWh of electricity per year to the national grid, ensuring a stable power supply to support energy security and the local economy.
The previous operator, Mekong Energy Co., Ltd., celebrated 20 years of operations of the plant last December. The project was supported by EDF (France), Sumitomo Corporation (Japan), and JERA (Japan).
The $400 million investment was financed at 25 per cent by shareholders and at 75 per cent by lenders including the Japan Bank for International Cooperation, the Asian Development Bank, and Société de Promotion et de Participation pour le Coopération Economique.
