With an area of more than 120ha, the project will include an LNG port phase 1 capable of receiving LNG carriers from 170,000 to 226,000 cubic meters, with an annual capacity of 1.5 million tons of LNG, and Hai Lang Power Center phase 1 with a power generation capacity of 1,500MW.
According to the plan, the project will be put into commercial operation in 2026 or 2027.
Mr. Do Quang Hien, General Director of T&T Group, representing the consortium of investors, said that by using new generation gas turbine technology with high power generation efficiency being used in many developed countries, such as the US, France, Japan, and Korea, Hai Lang Power Center will provide the national power system with about 8.25 billion kWh per year, which can make up for the immediate capacity shortfall of the system, especially in the context that renewable energy, such as solar power and wind power, in the Central region accounts for a large proportion and fluctuates according to the weather.
Along with the use of clean LNG fuel, the project will contribute to minimizing environmental impacts, reducing greenhouse gas emissions, and ensuring environmental criteria according to international conventions Vietnam has signed.
Mr. Vo Van Hung, Deputy Secretary of the Provincial Party Committee, Chairman of the Quang Tri Provincial People's Committee, emphasized that it was a key project of the province. The implementation of the project will gradually contribute to realizing the goal of turning Quang Tri Province into an energy center in the Central of Vietnam by 2030.
At the groundbreaking ceremony, Quang Tri Province gave the investment registration certificate, approving the consortium of investors, including T&T Group and Korean investors, to invest in Hai Lang LNG Power Center project phase 1 - 1,500MW in the Southeast Quang Tri Economic Zone in Quang Tri Province.
According to the investment registration certificate, the total investment capital of the project is VND53.67 trillion, equivalent to $2.32 billion. The capital contributed by the consortium of investors is nearly VND13.42 trillion, of which T&T Group contributes 40 percent, and HANWHA, KOSPO, and KOGAS contribute 20 percent each.
Hai Lang LNG Power Center phase 1 has been approved to add to the adjusted Power Master Plan VII by the Prime Minister. The next phase will be considered in detail in the National Power Development Plan for the 2021 - 2030 period, with a vision to 2045 (National Power Master Plan VIII).