AES (USA) Wants to Invest in Son My 2 Thermal Power Plant

AES Energy Company (USA) wants to invest and deploy the project of Son My 2 Gas Hydropower Plant and LNG Port Warehouse in Son My commune, Ham Tan district, Binh Thuan province together with PV Gas Corporation Vietnam (PV Gas).

At the working session with Vietnam Oil and Gas Group (PVN), Mr David Stone – General Director in charge of Vietnam market of AES Energy Company (USA) expressed the wish to be supported by PVN to invest and deploy the project of Son My 2 Gas Hydropower Plant and LNG Port Warehouse in Son My commune, Ham Tan district, Binh Thuan province together with PV Gas Corporation Vietnam (PV Gas).

PVN’s Deputy General Director affirmed that PVN is supportive and willing to cooperate with such American investors as AES in the field of oil and gas, especially gas thermal power and port warehouses projects that PVN is calling for investment. PVN also requested AES to work closely with PV Gas and report the results to PVN as soon as possible.

The Son My 2 Gas Hydropower Plant project is one of the 9 gas thermal power projects assigned by the Government to PVN as the investor and the power project under the revised Power Development Master Plan VII.

This project is expected to include 3 Son My plants, which are Son My 2.1, Son My 2.2 and Son My 2.3 with an expected capacity of 750 MW per plant, using imported LNG for power generation and will be located at the Son My Oil, Gas, Industry and Service Complex.

According to the plan, 3 plants under the Son My 2 gas power plant project will be operated in 2023, 2024 and 2025 respectively.

AES operates in the US electricity sector and is on the list of 200 global energy companies, ranked by Fortune Magazine.

AES operates mainly in the field of thermal power and renewable energy  production in 17 countries around the world. The power plants of AES are diversified in power sources including coal-fired thermal power, gas-fired thermal power, thermal gas power, hydro-electric power, wind power and biomass power.

AES now owns an LNG plant in the Dominican Republic with the port that can unload 10,000 m3/h and a 160,000 m3 LNG storage tanks. Moreover, AES is the owner of the LNG project with a 170,000 m3 depot in Panama and has participated in the BOT Mong Duong 2 power plant project.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

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