Nhon Trach 3 and 4 power plants expect to soon sign power purchasing contracts

​(News Portal – Dong Nai) - PetroVietnam Power Corporation (PV Power) informed that the draft power purchase agreement (PPA) has not yet been signed with Vietnam Electricity (EVN). This leads to a gas purchase contract that cannot be signed and there is no basis for unifying the annual volume of LNG purchased. 

Nhon Trach 3 Power Plant Project under construction 

Also according to PV Power, signing a PPA contract with long-term electricity purchase commitments for the project is an important factor in determining the electricity price frame so that the project can be deployed smoothly. In addition, this agreement also helps PV Power soon sign a gas purchase contract associated with the annual LNG purchase volume, confirmation deadline, stable gas delivery plan with the most affordable gas price. This is also a condition for international credit institutions to consider lending capital to PV Power to implement the project.

Nhon Trach 3 Power Plant Project is currently completing nearly 90% of procurement and manufacturing. Overall construction progress is about 70% from completion. According to the plan, this project will generate commercial electricity in the fourth quarter of 2024, and in the second quarter of 2025 for Nhon Trach 4 power plant. 

Nhon Trach 3 and 4 thermal power plants are key national energy projects, with a total investment of 1.4 billion USD and a capacity of 1.5 thousand MW. This is also the first thermal power project using LNG fuel in Vietnam. When put into operation, the project will contribute to implementing the Government's commitment to net zero emissions by 2050 at COP26.  ​​