The handover ceremony was attended and witnessed by representatives of the Ministry of Planning and Investment, Ministry of Finance; Mr. Hoang Quoc Vuong, Petrovietnam Chairman of the Board of Directors; Mr. Le Manh Hung, Petrovietnam President & CEO; Mr. Dang Huy Cuong, EVN Board of Directors Member in Charge; and leaders in the Board of Directors, the Executive Management Board of Petrovietnam and EVN.
The O Mon III and O Mon IV Power Plant Projects, with a capacity of 1,050 MW per plant, are located in the O Mon Power Center (total capacity of 3,810 MW), Phuoc Thoi Ward, O Mon District, Can Tho City. These two projects were assigned by the Prime Minister to EVN as the investor in Decision No. 428/QD-TTg dated March 18, 2016 (Electricity Master Plan VII - revised) and were further implemented as part of the important investment priority schedule for power sources and grids in the electricity sector in Decision No. 500/QD-TTg dated May 15, 2023 (Electricity Master Plan VIII). The O Mon III and O Mon IV Power Plant Projects are currently in the preparatory investment phase.
Petrovietnam Vice President Pham Tien Dung and EVN Vice President Nguyen Tai Anh on behalf of the two Groups signed the Minutes of the handover of documents
The O Mon III and O Mon IV Power Plant Projects are components of the Block B - Gas-to-Power project chain, which includes upstream projects (gas fields), midstream projects (gas pipeline projects), and downstream projects (power plants). This project chain has the opportunity to be implemented in 2023 to meet the schedule of having the first gas flow by the end of 2026. According to Electricity Master Plan VIII, the Block B - Gas-to-Power project chain will be an important power source, providing additional supply to the national power system in the Southern region during the period of 2026 - 2030. Furthermore, the project chain is in line with the energy transition trend and contributes to the carbon emission reduction targets as committed by the Prime Minister at COP26.
In recent times, the implementation of the project chain has faced unprecedented challenges and complexities with the involvement of multiple investors and parties requiring synchronized decisions within a limited time frame due to the project's urgent requirements. Without timely decisions in the downstream phase, the project chain may face difficulties in meeting the aforementioned schedule. In that case, delays will not only directly affect the ongoing activities of the upstream and midstream projects but also impact the feasibility of continuing the project implementation for domestic and foreign partners. To ensure the progress of these two projects, in Document No. 77/TTg-CN dated June 24, 2023, the Prime Minister agreed to transfer the ownership of the O Mon III and O Mon IV Power Plant Projects from EVN to Petrovietnam.
Mr. Le Manh Hung, Petrovietnam President & CEO spoke at the handover ceremony
At the handover ceremony, representatives of EVN and Petrovietnam signed the handover protocol for several contracts related to the projects, including the O Mon Power Center Planning Document, the Pre-Feasibility Study (Pre-FS) Report for the O Mon III Power Plant Project, the Feasibility Study (FS) Report for the O Mon IV Power Plant Project, and other relevant documents.
The handover ceremony has affirmed the sense of responsibility of Petrovietnam and EVN in urgently and seriously implementing the Prime Minister's directives. This will contribute to ensuring the progress and facilitating the implementation of the projects in 2023.
In the coming period, under the guidance of the Ministry of Planning and Investment, Petrovietnam and EVN will continue to closely coordinate and promptly hand over the projects according to the instructions of the competent authorities, in order to carry out the next steps and ensure the projects' operation on schedule. Simultaneously, negotiations on the Power Purchase Agreements (PPA) for O Mon III and O Mon IV Power Plants will be conducted after the approval of the investment projects by the competent authorities to minimize the impact on the schedule commitments for gas supply from the upstream and midstream sources of the two power plants, as well as other related tasks.
Representatives of government ministries and departments affirmed their commitment to working together with Petrovietnam and EVN to promptly complete the handover procedures and create favorable conditions to accelerate the implementation progress of the projects.
Mr. Dang Huy Cuong, EVN Board of Directors Member in Charge spoke at the handover ceremony
Speaking at the handover ceremony, Mr. Dang Huy Cuong, EVN Board of Directors Member in Charge, expressed gratitude to the Government, ministries, and especially Petrovietnam for providing support to EVN during the current phase. The handover of projects to Petrovietnam is aimed at ensuring mutual benefits, initiating the earliest possible implementation of the project chain, ensuring the overall progress of the Block B - Gas-to-Power project chain and contributing to national energy security.
On behalf of Petrovietnam's leaders, Petrovietnam President & CEO Le Manh Hung affirmed that Petrovietnam's taking charge as the investor of the O Mon III and O Mon IV Power Plant projects is both an honor and a great responsibility entrusted by the Government and the Prime Minister. Petrovietnam’s successful implementation and safely operation of the 2,700 MW/6,570 MW gas turbine combined cycle power plants within the Vietnamese power system (not to mention the ongoing construction of the 1,500 MW LNG Nhon Trach 3 & 4 Power Plant projects), along with its experience in the gas-fired thermal power sector and particularly the experience gained from the Thai Binh 2 Thermal Power Plant project, will be a great impetus for Petrovietnam to confidently and successfully complete the O Mon III and O Mon IV Power Plant projects, meeting the schedule and ensuring the quality of the projects.