| Project Name | VIE: MEKONG ENERGY COMPANY LIMITED (Phu My 2.2 Power) | ||||||||
| Project Number | 35914-014 | ||||||||
| Borrower / Company | MEKONG ENERGY COMPANY LIMITED |
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| Country / Economy | Viet Nam |
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| Location | |||||||||
| Type or Modality of Assistance |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | |||||||||
| Sector / Subsector | Energy / Conventional energy generation |
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| Gender | |||||||||
| Responsible ADB Department | Private Sector Operations Department | ||||||||
| Responsible ADB Division | Portfolio Management Division, PSOD | ||||||||
| Responsible ADB Officer | Garcia, Broderick B. | ||||||||
| Project Sponsor(s) | Electricite de France Summit Global Management II B.V. TEPCO |
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| 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 | |||||||||
| 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. | ||||||||
| Status of Operation/Construction | The Project has been operating satisfactorily since its commercial operations date was declared on 4 February 2005. | ||||||||
| Linkage to Country/Regional Strategy |
| Safeguard Categories | |
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| Environment | A |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Summary of Environmental and Social Aspects | |
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| 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 | |
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| Concept Clearance | 17 Oct 2001 |
| Credit Committee Meeting | 02 May 2002 |
| Approval | 02 Jul 2002 |
| PDS Creation Date | 31 Jul 2006 |
| Last PDS Update | 30 Jul 2014 |
| Project Page | https://www.adb.org//projects/35914-014/main |
| Request for Information | http://www.adb.org/forms/request-information-form?subject=35914-014 |
| Date Generated | 06 June 2023 |