Tata Power keen to invest in new power plant while continuing construction at other plant.
Tata Power has proposed it invest in the Long Phu 3 thermal power project while continuing to prepare to build the Long Phu 2 thermal power project, valued at $2 billion.
In a meeting with leaders of the Mekong Delta’s Soc Trang province, Mr. Indronel Sengupta from Tata Power in Vietnam said “Tata Power wishes to continue to invest in another thermal power station project, Long Phu 3, in the form of build-operate-transfer (BOT), and to continue investing in wind power projects in the province.”
Long Phu 3 is located at the Long Phu Power Center in Soc Trang and its plans have been approved by the Ministry of Industry and Trade (MoIT), with total investment reaching around $5 billion. The plant will have a capacity of 2,000 MW and be the largest in the cluster.
At the same time, Mr. Sengupta said that the company is preparing to build the Long Phu 2 thermal power plant. In May it will conduct a bidding process to select an organization to verify the project’s technical infrastructure and will negotiate a contract with MoIT in June. The Long Phu 2 plant has a capacity of 1,320 MW and is expected to begin operations in December 2020, more than a year later than originally planned.
Tata’s moves show that investment in electricity projects in the BOT form continues to receive attention from foreign investors. The AES Corporation from the US will invest in the Mong Duong 3 thermal power plant in Quang Ninh province, which has a capacity of 1,200 MW and investment of about $2 billion.