Korean GS Energy to build LNG power plants in Vietnam

The two power plants are estimated to be completed by 2026 and 2027.

Korean private energy company GS Energy will build two 1.5GW LNG power plants in Long An, Vietnam.

GS Energy, together with its partner investment firm VinaCapital will invest $3.08b (3.5t won) to build the new services.

Together, the plants will have the power generation capacity of three nuclear power plants. Once built, GS Energy will operate the plants for an estimated 25 years. Electricity produced by the plants will be sold to the Vietnam Electric Power Corp.

The start date for construction has not yet been disclosed.

The construction of the power plants is part of Vietnam’s plans to raise the gas-fired electricity in its power mix to 21% by 2030 and 24% by 2045, up  from the current 13%.