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November 30, 2021

Quynh Lap Thermal Power Plant II, Vietnam

By Carmen

The Quynh Lap Thermal Power Plant II is 1,200MW coal fired power project. It is planned in Nghe An, Vietnam. The project is currently in permitting stage. It will be developed in multiple phases. The project construction is likely to commence in 2025 and is expected to enter into commercial operation in 2027.

Project Type Total Capacity (MW) Active Capacity (MW) Pipeline Capacity (MW) Project Status Project Location Project Developer
Thermal 1,200 1,200 Permitting Nghe An, Vietnam POSCO Energy

Description

The project is being developed and currently owned by POSCO Energy.

It is a steam turbine power plant. The power plant can run on dual-fuel. The primary fuel being used to power the plant will be coal. In case of shortage of coal the plant will run on Subbituminous/Bituminous coal.

The project cost is expected to be around $2,500m.

Development Status

The project construction is expected to commence from 2025. Subsequent to that it will enter into commercial operation by 2027.

Power Purchase Agreement

The power generated from the project will be sold to Vietnam Electricity under a power purchase agreement for a period of 25 years.

About POSCO Energy

POSCO Energy Co., Ltd. (POSCO Energy) is a power producer. The company undertakes electricity generation from liquified natural gas combined cycle plants located in Incheon, Pohang and Gwangyang. It manufactures fuel cell that generates electricity and heat from the electrochemical reaction between hydrogen and oxygen without combustion. POSCO Energy’s renewable energy business generates energy from solar and wind sources. The company also carries out solid refuse fuel power generation project for producing electricity from municipal waste and recyclable resources. It operates as a subsidiary of POSCO. The company was formerly known as Posco Power Corp. Posco Energy is headquartered in Seoul, South Korea.

Methodology

All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.

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