Viet Nam: VIE: MEKONG ENERGY COMPANY LIMITED (Phu My 2.2 Power)

Nonsovereign Project | 35914-014

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Project Name VIE: MEKONG ENERGY COMPANY LIMITED (Phu My 2.2 Power)
Project Number 35914-014
Borrower/Company MEKONG ENERGY COMPANY LIMITED
Country Viet Nam
Location Ba Ria-Vung Tau Province, South east of Ho Chi Minh City
Approval Number 7176/1906
Type or Modality of Assistance
7176/1906 PRG Guarantee of Rec without Govt Guarantee US$ 25.00 million Approved
Strategic Agendas
Drivers of Change
Sector / Subsector Energy - Conventional energy generation
Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Portfolio Management Division, PSOD
Responsible ADB Officer Regina V. Caluag
Project Sponsor(s) TEPCO
Electricite de France
Summit Global Management II B.V.
Description The Project involved construction and operation of a 715 MW gas-fired combined cycle power plant in the Phu My Power Generation Complex in Ba Ria-Vung Tau Province under a build-operate-transfer (BOT) contract. The Project provides additional base-load capacity to mitigate the country's projected power shortfall. The electricity is purchased by Electricity of Vietnam (EVN) under a 20-year power purchase agreement on a take-or-pay basis. The Project is Viet Nam's first private power project awarded on the basis of an international competitive bidding process. The Government guarantees the performance obligations of the Vietnamese counterparties and also the availability, convertibility, and transferability of foreign exchange.
Objectives and Scope
Linkage to Country/Regional Strategy
Status of Development Objectives The Project has succeeded in meeting its primary development objectives. It is one of the two large-scale BOT gas-fired power plants which contributes to more reliable base load and more diversification of energy sources in Viet Nam. It serves as a successful model for the development of an integrated gas for power project. The Project involves the transfer of technology and best practices in power plant operation, as well as in environment, health and safety management. Following the successful implementation of Phu My 2.2 and Phu My 3, Viet Nam is developing other power plant complexes with foreign private sector participation replicating the Phu My model.
Safeguard Categories
Environment A
Involuntary Resettlement
Indigenous Peoples
Summary of Environmental and Social Aspects
Environmental Aspects Environment monitoring has been carried out since COD. The Project is in compliance with environmental guidelines with concentrations of nitrogen oxides (NOx), sulfur oxides (SOx), carbon monoxide (CO) and dust significantly below the World Bank and Viet Nam limits. It has implemented an e-monitoring system wherein conditions and performance of the plant is monitored round the clock to secure the plant's operations. The Project has also established an Environmental Management System to ensure that management and staff commit to take care of the environment and to manage for continual improvement of environmental performance, including health and safety procedures.
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 17 Oct 2001
Due Diligence 25 Mar 2002
Credit Committee Meeting 02 May 2002
Approval 02 Jul 2002
PDS Creation Date 31 Jul 2006
Last PDS Update 30 Jul 2014

Safeguard Documents

See also: Safeguards
Title Document Type Document Date
Phu My 2.2 Power Project Summary Environmental Impact Assessments Feb 2002

Evaluation Documents

See also: Independent Evaluation
Title Document Type Document Date
Viet Nam: Phu My 2.2 Power Project Validations of Project Completion Reports Feb 2011

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