$1.4 Billion Power Plant in Dong Nai Officially Signs Power Purchase Agreement

​(News Portal – Dong Nai) –  Petro Viet Nam Power Corporation (PV Power) and the Electricity Trading Company (EVNEPTC) have signed the Power Purchase Agreement (PPA) for the Nhon Trach 3 and 4 Power Plant Project in Nhon Trach District.

Petro Viet Nam Power Corporation (PV Power) and Electricity Trading Company (EVNEPTC) sign the Power Purchase Agreement. 

The PPA is a crucial condition for the Nhon Trach 3 and 4 Power Plants to commence commercial operations. This contract sets a precedent and provides direction for negotiating PPAs for other LNG-powered electricity projects under Power Development Plan VIII.​

Nhon Trach 3 and 4 are national key projects, with PV Power as the project owner. The total investment is $1.4 billion, with a generation capacity of over 1.6 GW. This is Vietnam's first LNG-fueled power plant project, utilizing advanced gas turbine technology with the highest capacity and efficiency currently available in the country. 

Nhon Trach 3 and 4 Power Plant Project in Nhon Trach District. 

Once operational, the project will contribute more than 9 billion kWh of commercial electricity annually to the national grid, ensuring national energy security and supporting the country's economic and social development. For the province, the project is expected to generate annual revenue of approximately VND 17-18 trillion, helping to ensure a stable electricity supply for economic and social growth.

Earlier, on October 1, PV Power announced that it had signed a credit agreement worth $521.5 million with two banks, Citi (USA) and ING (Europe), to finance the project. This is the largest of three credit agreements the investor has signed with various financial institutions.