PV Power shakes hands with SK Group on Quynh Lap LNG thermal power plant

PV Power shakes hands with SK Group on Quynh Lap LNG thermal power plant

On May 18, the Nghe An People’s Committee and a consortium comprising PV Power, Nghe An Sugar Company (NASU), and SK Innovation held a ceremony to launch technical infrastructure works for the Quynh Lap LNG thermal power plant with a total investment of nearly $2.2 billion.

This event holds special significance for Nghe An province and the North Central region. It is also poart of a series of activities to celebrate the 136^th anniversary of the birth of President Ho Chi Minh.

The investment registration certificate for the Quynh Lap LNG thermal power plant project was awarded to the consortium of PV Power, NASU, and SK Innovation at the Vietnam-South Korea Economic Forum on April 24, in the presence of South Korean President Lee Jae Myung and Vietnamese Prime Minister Le Minh Hung.

The Quynh Lap LNG thermal power plant is included in the country's Power Development Plan VIII. The venture plays a central role in Vietnam's strategy for developing clean energy sources, energy transition, and reducing carbon emissions.

Located in Tan Mai ward, Nghe An, the plant has a capacity of 1,500 MW, including a 1,500 MW LNG-based thermal power plant, an LNG storage and regasification system with a tank capacity of approximately 250,000 cubic metres, and a dedicated port within the Dong Hoi Port area – Nghe An Seaport.

The venture is slated to be put into operation and generate electricity in 2030, helping provide a stable and efficient power supply to the national grid, especially in the Northern and North Central regions. Once operational, the venture will meet the energy needs for industrial development, services, logistics, while facilitating investment attraction in Nghe An province.

Speaking at the ceremony, Vo Trong Hai, Chairman of Nghe An People's Committee, said, “The project is expected to become a new growth engine for Nghe An province and the North Central region. At the same time, the implementation of a large-scale venture with modern technology demonstrates the increasingly important role and position of Nghe An province in regional linkage and economic development of the North Central region.”

Choo Hyeong-wook, president and CEO of SK Innovation, said, “SK Innovation, together with its partners PV Power and NASU, has prepared the necessary conditions in terms of resources, technology, finance, and implementation plans. We are determined to build the Quynh Lap LNG thermal power plant on schedule, efficiently, safely, and with high quality.”

“We hope that the government leaders, ministries, and Nghe An province will continue to cooperate, create favourable conditions, and support the consortium in carrying out related tasks such as land clearance, construction permits, and power purchase agreements,” he said.

VIR