Hai Lang LNG Power Plant requests funding revision

Ha Sy Dong, Deputy Chairman of Quang Tri People's Committee, said on December 22 that the committee had recently met with the investors of the Hai Lang project.

A representative of the investors said that there were certain challenges and roadblocks, such as the draft National Power Development Plan VIII (PDP8), which only considers creating a capacity of 1,500MW in Hai Lang and does not account for further phases.

To have a foundation for authorising the feasibility study, altering the ground and land area in line with the capacity scale and the established legal grounds must be considered.

The PDP8 has not yet been authorised, so the connection plan cannot be defined. If the delay is extended, it will impede the development of connection agreements and electrical industry agreements.

Parallel to the fact that the responsibility for investment in transmission lines has not yet been decided (EVN or investors), it is vital to pay close attention to the synchronised deployment of power plants and transmission lines.

As a result of the aforementioned issues, the investor proposed to Quang Tri People's Committee that the policy and certificate be modified, and that they can be supported in their negotiations with the government following the completion of a feasibility study.

Licensed in October 2021, the consortium of investors comprising Hanwha Energy, Korea Gas Corporation, Korea Southern Power Co., Ltd., and T&T Group have participated. The total capital exceeds $2.32 billion, and the total area is around 148 hectares.

At this meeting, Dong praised the consortium's competence, expertise, and efforts in executing the aforementioned project in Quang Tri.

Dong asked local authorities to give maximum assistance for investors to complete processes, as well as committing to follow investors through the negotiation process and provide support to maintain progress and update PDP8.

Quang Tri also requires investors to agree to appoint a representative to establish a business in accordance with regulations and the law and to facilitate coordination between investors and the province during project implementation for the project to be implemented on time and with maximum efficiency.

Nevertheless, the development of the feasibility study report is still extremely sluggish, and the overall project evaluation alongside documentation to change forest use need to be adjusted synchronously with the project.

The joint venture of PV Power, Colavi, Tokyo Gas, and Marubeni is behind schedule for the completion of the $2 billion Quang Ninh liquefied natural gas (LNG) power plant.

The Ministry of Industry and Trade (MoIT) has proposed removing five thermal power plant projects from the National Power Development Plan VIII unless investors commit to arranging enough capital.

Quang Tri People's Committee requires the investor of the $2.35 billion Hai Lang LNG power center – phase 1 – to build plans to adjust the project's area and complete a feasibility report.