Location: Long Đức commune, Long Phú district, Sóc Trăng province

Estimated cost: USD $1.59 billion

The sponsors will finance the project on a 70:30 debt to equity ratio – seeking US$1.1 billion in debt.

Expected financial close: Early 2017

Status: Construction commenced

Completion expected: 2018

Another 1320MW power plant (Long Phu 2) has been announced for the same site.

PetroVietnam Technical Services Corporation (PetroVietnam Group)
Gazprombank (Adviser to OJSC Power Machines)
  • OJSC Power Machines (Russia)
  • BTG Energy (Slovakia)
  • PetroVietnam Technical Services Joint Stock Corporation (PTSC)
Lead Arrangers (US$650M)

  • HSBC (global coordinator)
  • Cathay United Bank

Export Credit Agencies (ECAs)

  • SACE (Italy)
  • Hermes (Germany)
  • US Ex-Im
  • UKEF
  • Egap (Czech Republic)
  • Exiar (Russia)
  • Korea Export-Import Bank (Kexim)

References

  1. GE (2 September 2015), ‘GE High-Efficiency Steam Turbines Selected for Petrovietnam’s New Coal-Fired Power Plant’
  2. Vietnam Energy Online, (9 August 2015), ‘Long Phu 1 Thermal Power Project is beeing (sic) developed as planned’
  3. Vietnam Today (9 August 2015), ‘Long Phu 1 Thermal Power Plant breaks ground’
  4. PetroVietnam (2017), ‘Long Phu Thermal Power Plant’
  5. IFR News, (April 15, 2017), PetroVietnam seeks US$650m PF’

Information updated: May 29, 2017

In addition to the references noted above, Market Forces also considers information from financial journals, companies’ public disclosures, and news reports.