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Quang Trach II Thermal Power Plant received the green light from the PM. Photo: a thermal power plant

According to Quang Binh People’s Committee, the Vietnamese prime minister has approved the investment of the Quang Trach II Thermal Power Plant project.

Quang Trach II Thermal Power will be invested by EVN in Hon La Economic Zone, Quang Binh province.

The project has a capacity of 1,200MW with a total preliminary investment value of approximately VND48.156 trillion ($2.1 billion)

Of this, the firm’s equity will be more than VND9.634 trillion ($418.87 million), accounting for 20 per cent of the total investment value, while its debts will be roughly around VND38.525 trillion ($1.68 billion).

The first unit of Quang Trach II Thermal Power Plant is expected to go into commercial operation in 2028, and the second unit will operate in the following year.

Quang Binh province was assigned by the prime minister to grant investment registration certificates for related enterprises, as well as boost land-use conversion and project implementation supervision.

Specifically, the PM also asked the locality to coordinate with the Ministry of Natural Resources and Environment and other parties to carry out an environmental impact assessment of the project.

EVN will be in charge of providing data such as total investment and estimated capital. The PM also noted that related parties must ensure efficient use, preservation, and development of state capital.

Meanwhile, Quang Trach I Thermal Power Plant, a component project of Quang Trach Power Centre, began construction in 2011. In 2017, EVN replaced PetroVietnam as the developer of Quang Trach I Thermal Power Plant due to slow implementation.

Last month, the joint venture of Daewoo E&C LILAMA submitted a document to the PM and the standing PM to reflect on the unfair selection of the EPC contractor for the 15 ^th contract package at Quang Trach I Thermal Power Plant.

At present, contractors are building infrastructure for the plant. However, the project’s progress has been impacted by the encroachment of a number of households in Vinh Son village on the land allocated for the project. They illegally built houses, a slaughterhouse, and fences to set out the land for cultivation. Some families have received compensation but have yet to hand over the land.

The Hanoitimes – This will support the Vietnamese government’s climate mitigation actions by strengthening the resilient management of landscapes and natural resources.

The World Bank on June 5 approved an US$84.4 million IDA credit to support multi-sectoral policy reforms by the Vietnamese government to promote climate-resilient landscapes and green transport and energy systems.

World Bank provides US$84.4 million for Vietnam to promote climate-resilient landscapes.

The Climate Change and Green Growth Development Policy Financing aims to consolidate and expand on the achievements of the government’s Support Program to Respond to Climate Change 2016-2020, or SP-RCC. This includes supporting policies that should lead to increased protection of water sources, application of water-saving practices over larger areas of farmland, additional reductions in vehicle emissions, and further scale up of renewable energy.

The program will support the government’s climate mitigation actions by strengthening the resilient management of landscapes and natural resources and effective management of related public investments. These efforts include climate smart landscape planning (particularly for forests and the Mekong Delta), climate budgeting, and improving water resources protection and use efficiency.

The program will also facilitate efforts to promote cleaner transport and energy systems to reduce green-house gas (GHG) emissions and address air pollution. These policy reforms include the establishment of more stringent vehicle emissions standards, adoption of a new national energy efficiency program and enhanced incentive mechanisms to increase the nation’s wind generation capacity.

“The new development financing will focus on areas which present the greatest opportunities for transformational interventions to address climate change challenges,” said Ousmane Dione, World Bank Country Director for Vietnam. “It reflects our strong commitment to help Vietnam maintain the momentum under SP-RCC while building a bridge to a new, post-2020 phase of climate action.”

The Vietnamese government established the SP-RCC to lay the foundations for the country’s delivery on its national climate commitments under the Paris Agreement—the Nationally Determined Contribution set in 2016 to be implemented from 2020. These commitments include cutting GHG emissions by 8% below business as usual between 2020 and 2030, and up to 25% conditional on international support, and a variety of adaptation targets, including mainstreaming climate planning in 90 percent of long-term socio-economic development plans.

The program will also support Vietnam’s Covid-19 response through highly concessional budget support and by supporting policy reforms that will contribute to the national pandemic response. This includes improving forest management, which helps reduce the risk of emerging zoonotic disease, and increasing investments in natural resources management and climate adaptation, which complements an economic stimulus package aimed at supporting rural incomes and community resilience.