ADB to Lend $309M for Gas-run Power Project in Vietnam Mekong Delta

The Asian Development Bank (ADB) yesterday [November 24] approved a loan of $309.89 million to the $793.5-million O Mon 4 gas turbine combined cycle project in Vietnam’s Mekong Delta region.
Currently, the state-run Electricity of Vietnam Group (EVN) is speeding up a feasibility study on the project. The plant along with three others is part of the $2-billion O Mon power center being carried out in the southern city of Can Tho. The 3,600-MW center is estimated to need 4 billion cubic meters of gas per year for power generation. The facility with capacity of 750 MW is slated for completion in June 2016 to provide a more reliable supply of power to the Mekong Delta region, support expanded industrial activity, spur new livelihood opportunities, and reduce dependence on hydropower tapped from other regions. It is also expected to save nearly 600,000 tons of CO2 emission a year compared to coal-fired alternatives.  Earlier, the German Reconstruction Credit Institute (KfW) agreed to provide a credit loan of $370 million to the project. Under the national electricity development plan between 2011 and 2020 with a vision to 2030 (or Plan VII), gas-run power plants would generate 16.5%  of the total capacity or 256 billion kWh by 2020 in Vietnam. (Tuoi tre –Youth Nov 25)