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AES Vietnam President Meets with EVN Leadership to Advance Strategic Energy Projects
Hanoi, 26 October 2015 – AES Mong Duong Power Company Limited (AES Mong Duong) today held an announcement ceremony for the successful completion of Mong Duong II BOT coal-fired power project (Mong Duong II). The plant is the first and largest coal-fired Build-Operate-Transfer (BOT) project using pulverized coal-fired boiler technology in Vietnam and is the country’s first new private sector power plant to be commissioned in the last ten years. Mong Duong II entered full commercial operations in April 2015, approximately six months ahead of schedule.
The announcement ceremony of the completion of Mong Duong II was held in the presence of Minister of Industry and Trade Vu Huy Hoang, U.S. Ambassador to Vietnam Ted Osius, Korean Ambassador to Vietnam Dae Joo Jun, Quang Ninh People’s Committee, leaders of Electricity of Vietnam, Vietnam National Coal-Mineral Industries Holding Corporation Ltd.as well as television and journalists of local and national press.
Addressing at the ceremony, Mr. David Stone, CEO and Managing Director of AES Mong Duong said: “After over nearly five years of construction activities, we are very proud to announce today the completion of the Mong Duong II BOT coal-fired power plant, which is a significant milestone for both Vietnam and the investors in the project. We would like to express many thanks to the Government of Vietnam for the cooperation and support extended to the project. We are also proud that the majority of the work was performed by Vietnamese workers and we were able to work more than 46 million man-hours safely – our number one priority and the key factor that helped our project to be completed much earlier than our commitment to the Government”.
Started in December 2010 in Mong Duong Ward, Cam Pha City, Quang Ninh Province, Mong Duong II has two units with a total gross capacity of 1,240 MW and investment of approximately $US 2.1 billion. The plant was built under a BOT agreement and will be transferred to the government after 25 years. Since the date of synchronization, both units have contributed more than 4 billion kWh of electricity to the national grid. The plant is expected to add significantly to the national power grid with more than 7.6 billion kWh of electricity annually.
The successful completion of Mong Duong II is a clear demonstration of close cooperation through the years between AES and the Government of Vietnam and its’ agencies, including but not limited to, the Office of the Government, Ministry of Industry and Trade, Quang Ninh Province, EVN, Vinacomin, Cam Pha City and Mong Duong Ward.
Speaking at the ceremony, H.E Minister of Industry and Trade Vu Huy Hoang highly appreciated the completion of the Mong Duong II power plant which is a meaningful and important milestones to Vietnam’s power industry as well as the Investors. H.E Ambassador Ted Osius also congratulated AES for the timely completion of such an important project to the power sector. He highlighted the hope that there will be more successful projects in Vietnam with AES and other U.S. companies.
“Due to its economic growth, Vietnam is experiencing a rapidly growing rate of energy consumption. We view Vietnam as an important market with a number of potential opportunities beyond Mong Duong II, especially in the context of successful conclusion of Trans-Pacific Partnership negotiations”, said Mr. Mike Chilton, Senior Vice President of Global Engineering and Construction of The AES Corporation.
According to the Vietnam Institute of Energy and the National Center for Socio-Economic Information and Forecast, Vietnam’s power demand and GDP are expected to grow by 11% and 7%, respectively, over the next five years. The Government of Vietnam has future plans to increase the country’s installed capacity by more than 60 GW over the same period.
AES Mong Duong Power Company, Owner of Mong Duong II, is a limited liability company formed by the affiliates of The AES Corporation (USA), POSCO Energy (Korea) and China Investment Corporation (China), with The AES Corporation as the largest shareholder.
More information:
Ms. Le Thi My Hanh
Stakeholder Manager
Email: hanh.le@aes.com
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