Vung Ang 2 (1200 MW)
Location: Kỳ Lợi commune, Kỳ Anh district, Hà Tĩnh province
Estimated Cost: USD $2.2 billion
The expected debt-equity ratio is 77:23.
The investment license for this power station was granted in January 2017.
Expected financial close: Early 2017
Completion Expected: 2021-2022
- One Energy Ventures (a 50:50 joint venture between Hong Kong-based CLP Holdings and Diamond Generating Asia (DGA), a subsidiary of Japan’s Mitsubishi Corp)
- Refigeration Electrical Engineering Corp (REEC)
- SPV: Vung Ang 2 Thermal Power Joint Stock Company (VAPCO)
- Financial: BNP Paribas
- Legal: Allens Arthur Robinson
- Technical: Poyry
- Mia Tahara-Stubbs, IJGlobal (23 January 2017), ‘Banks mandated on Vietnam Vung Ang 2 coal-fired’
- Global Data Point (20 January 2017), ‘Vietnam’s MOIT Investment Agreement signed BOT project in Vung Ang Thermal Power Plant 2’
- Vietnam Plus (17 January 2017), ‘Vung Ang II thermal power plant BOT project agreement clinched’
- Climate Policy Initiative (2016), ‘Slowing Down the Growth of Coal Power outside of China’
- BMI Research (2016), ‘Vietnam Power Report – 2016 Q4’
Information updated: April 15, 2017
In addition to the references noted above, Market Forces also considers information from financial journals, companies’ public disclosures, and news reports.