Hear and See: The Driving Force of Electrification

Notably, according to the adjusted Power Plan VIII, by 2030, the gas-fired power source must be newly invested in a maximum of nearly 37,500 MW, of which 60% is liquefied gas (LNG) - equivalent to 22,524 MW. Thus, this level increased by about 7,000 MW compared to before the adjustment of Power Plan VIII... In early May, the Government also issued Decree No. 100/2025 amending and supplementing Decree No. 56/2025 detailing a number of articles of the Electricity Law on power development planning, power grid development plans, investment in construction of power projects and bidding to select investors in power business projects.

Binh Thuan is also a locality with favorable conditions for developing LNG electricity. (illustrative photo from the Internet).

Accordingly, regarding the mechanism for developing gas-fired power projects, the Government stipulates that gas-fired power projects using imported LNG are entitled to product offtake, i.e. committed to the mobilized electricity output. This rate is based on the agreement between the seller (LNG power plant) and the electricity buyer (Vietnam Electricity Group - EVN) but is not lower than 65% of the average electricity output of the project for many years. The offtake is applied during the repayment period of principal and interest, but not more than 10 years from the date of electricity generation. After this period, the purchase and sale will be negotiated by the parties. In addition, the above mechanism will be applied to imported LNG power projects that begin operating before January 1, 2031...

The Binh Thuan Provincial Planning for the period 2021 - 2030, with a vision to 2050 (according to the Prime Minister's approval decision) also mentions the development orientation of important sectors and fields. Particularly, the energy - electricity industry aims to become the national energy center, ensuring a stable supply and meeting the energy and electricity needs for socio -economic development, ensuring national defense and security. In which, priority is given to developing renewable energy and clean energy projects such as wind power, especially offshore wind power and hydrogen, solar power, LNG gas power... With specific orientations and mechanisms, it can be said that this will be the driving force for gas power development with large-scale projects in localities with potential and advantages.

For example, at Son My 1 Industrial Park in Ham Tan district, there is currently a series of projects: Son My I BOT Thermal Power Plant (total capacity of 2,250 MW), Son My II Gas Thermal Power Plant (total capacity of 2,250 MW), Son My LNG Port Warehouse (design capacity of phase 1 is 3.6 million tons of LNG/year and phase 2 increases to 6 million tons of LNG/year)... Recently, leaders of the Provincial Party Committee - People's Committee of Binh Thuan province have also inspected the actual situation and listened to specific reports on the progress of Son My 1 Industrial Park. Thereby, requesting relevant departments, localities and investors of industrial park infrastructure to actively coordinate and focus on removing difficulties, especially in compensation and site clearance to promptly hand over land for the chain of LNG gas - electricity projects.

Recently, the leaders of Binh Thuan province had a courtesy reception with the US Ambassador to Vietnam, Marc E. Knapper, according to which the whole province is currently attracting 5 FDI ​​projects with capital from the United States. In particular, the AES Corporation (USA) was approved by the Ministry of Industry and Trade of Vietnam to invest in the Son My II Gas Power Plant project with a total investment of about 2.1 billion USD. On this occasion, the provincial leaders also emphasized: The development of clean energy is a consistent policy of the Party - State and Binh Thuan province clearly identifies the importance of clean energy projects. From there, it will always accompany and create favorable conditions for investors in the process of implementing procedures and work under the authority of the locality to contribute to promoting the project to be implemented on schedule...

In fact, developing LNG power is an inevitable trend today to help ensure a stable power supply for the system, minimizing greenhouse gas emissions affecting the environment. This is also a solution to limit dependence on coal-fired thermal power plants, which account for a relatively high proportion in the current system, especially helping the electricity industry develop greener in the future.

Source: https://baobinhthuan.com.vn/nghe-va-thay-dong-luc-phat-trien-dien-khi-130186.html