Published 23 June 2014

A consortium including ACWA Power and Taekwang Power has signed a joint agreement to develop the first phase of a coal fired power project in Vietnam.

The development, dubbed Nam Dinh1 independent power project (IPP), is situated in the Hai Hau district of Nam Dinh province in Vietnam.

Nam Dinh1is a greenfield IPP that will be developed on a build, own, transfer (BOT) basis with over $2bn of investment.

The 1,200MW plant will be equipped with new applications of clean technologies to generate power with coal that will be supplied by the government owned coal mine firm, Vinacomin.

The consortium will be responsible the operation and maintenance of the project with ACWA's subsidiary NOMAC playing an important role.

Korea-based POSCO E&C has been selected as a preferred bidder for the engineering, procurement and construction (EPC) of the project.

ACWA Power chief investment officer Rajit Nanda said, "This project in Vietnam is really meaningful to ACWA Power; in fact, this will offer a stepping stone for ACWA Power to eventually expand into its strategic markets of Philippines and Indonesia which have similar cultures and market structures."

source : http://fossilfuel.energy-business-review.com/news/acwa-power-taekwang-power-sign-deal-to-develop-coal-fired-plant-in-vietnam-230614-4298814