U.S. energy company AES Group has signed a memorandum of understanding (MOU) with Vietnam’s Ministry of Industry and Trade for implementing the Son My 2 combined cycle gas turbine (CCGT) project.
The Son My 2 CCGT project has a total capacity of 2.2 GW will be developed in the Binh Thuan province, and will have an estimated investment of $1.7 billion under a contract term of 20 years.
AES said that this facility would help shape Vietnam’s energy future by diversifying its energy mix while meeting the country’s increasing demand for sustainable and affordable electricity.
The Son My 2 CCGT project adds the investment capital to the project of AES for developing $1.4 billion Son My LNG Terminal that Vietnam Government approved in August 2019.
It is worth reminding that AES was granted approval by the Government of Vietnam to develop the Son My 2 power plant in October 2019 .