Financing is co-funded by a consortium of four leading domestic commercial banks: Vietcombank, VietinBank, BIDV, and Agribank.
Delegates perform the groundbreaking ceremony for the Quang Trach I plant project and the power generation ceremony for the Quang Trach II plant project. (Photo: baochinhphu.vn)
Vietnam Electricity (EVN) on October 20 held a ground-breaking ceremony for the Quang Trach II LNG Thermal Power Plant project and officially announced the connection and power delivery to the national power grid of the Quang Trach I Thermal Power Plant, both in central Quang Tri province, reported the Government's online newspaper (chinhphu.vn).
The overall development consists of four generating units, including two coal-fired units (the Quang Trach I project) and two liquefied natural gas (LNG)-fired units (the Quang Trach II project), with a combined total capacity of 3,015.8 MW and a total combined investment of over VND82 trillion (over $3.17 billion).
Once completed, they are projected to supply more than 17.2 billion kWh of electricity per year.
The Quang Trach II LNG Thermal Power Plant is a nationally significant energy project under the National Power Development Plan VIII (PDP8), featuring a designed capacity of 1,612.8 MW and utilizing combined-cycle gas turbine (CCGT) technology.
The project plays a pivotal role in transitioning Vietnam’s power generation mix toward green transformation, safeguarding energy security, enhancing grid reliability, and fulfilling Vietnam's international greenhouse gas reduction commitments. It represents a total investment exceeding VND40 trillion ($1.55 billion), comprising 20% equity capital and 80% commercial loans. Financing is co-funded by a consortium of four leading domestic commercial banks: Vietcombank, VietinBank, BIDV, and Agribank.
According to EVN Deputy General Director Nguyen Tai Anh, the two units of the Quang Trach I Thermal Power Plant have essentially been completed and have already delivered 620 million kWh of electricity to the national grid.
For the Quang Trach II LNG Thermal Power Plant, EVN has completed credit financing arrangements, concluded full site clearance, and finished contractor selection to finalize the EPC (Engineering, Procurement, and Construction) contract. According to the projected project timeline, Unit 1 is slated to commence commercial operation in February 2030, followed by Unit 2 in April 2030.