Viet Nam : VIE: MEKONG ENERGY COMPANY LIMITED (Phu My 2.2 Power)
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.
Project Details
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Project Officer
Garcia, Broderick B.
Private Sector Operations Department
Request for information -
Country/Economy
Viet Nam -
Modality
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Sector
- Energy
| 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 Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
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| Title | Document Type | Document Date |
|---|---|---|
| Loan and Political Risk Guarantee under the Coguarantee Program (Phu My 2.2 Power) | Extended Annual Review Reports | Nov 2008 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
| 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 |
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.