Introducing the Thai Binh LNG Thermal Power Plant.
On October 10th, in Hung Yen, Thai Binh LNG Power JSC, in collaboration with relevant parties, officially held the groundbreaking ceremony for the Thai Binh LNG Thermal Power Plant project. This project is identified as a strategic energy initiative, contributing to ensuring electricity security for the Northern region and the entire country.
Currently, Vietnam’s power system faces a potential supply shortage in the North (an area accounting for approximately 40% of the nation’s total electricity demand), with an average annual growth rate exceeding 10%.
In this context, the Thai Binh LNG Thermal Power Plant project is considered a timely and sustainable solution to meet load demands, reduce pressure on the national power system, and implement Resolution No. 55-NQ/TW of the Politburo on the national energy development strategy towards a green, clean, safe, and efficient direction.
The Thai Binh LNG Thermal Power Plant project is a result of the strategic cooperation between Vietnam and Japan in the field of clean energy.
At the groundbreaking ceremony, Japanese Ambassador Ito Naoki emphasized that the Japanese Government is committed to accompanying and hopes to receive close guidance from the leaders of the Ministry of Industry and Trade and Hung Yen province to realize the project, a symbol of cooperation between Japan and Vietnam.
Delegates perform the groundbreaking ceremony for the Thai Binh LNG Thermal Power Plant. Photo: VGP
Chairman of the Hung Yen Provincial People’s Committee Nguyen Khac Than stated that the 1st Party Congress of the Provincial Party Committee for the 2025-2030 term has identified the development of clean energy and renewable energy as one of the strategic pillars for Hung Yen to develop rapidly, sustainably, and towards becoming an energy hub of the Red River Delta.
The Thai Binh LNG Thermal Power Plant project is not only a key energy project but also a strategic initiative for socio-economic development, generating significant budget revenue and thousands of new jobs. The project also creates momentum to attract investment, fostering the development of high-tech industries and clean energy.
Chairman of the Hung Yen Provincial People’s Committee emphasized that this is not just a power project but the beginning of Hung Yen and Vietnam’s vision for green energy in the global energy transition era.
In reality, according to the leadership of the Hung Yen Provincial People’s Committee, the province is orienting towards building a multi-sector free economic zone according to international standards, developing sustainable marine economies, forming industrial-energy-service-logistics chains, linked to the goal of becoming an integrated energy center in the region.
The nearly $2.7 billion plant is expected to supply 6 – 10 billion kWh of electricity annually
Perspective of the Thai Binh LNG Thermal Power Plant project. Photo: ĐVTK
The Thai Binh LNG Thermal Power Plant project has a total investment of approximately $2.69 billion, with a capacity of 1,500 MW, covering an area of 269 hectares (including 57 hectares onshore and 212 hectares offshore). It is expected that the plant will be completed and commercially operated in full by Q4/2029.
The Thai Binh LNG Thermal Power Plant includes two high-efficiency combined cycle gas turbine units, using liquefied natural gas (LNG) as fuel. The project significantly reduces CO₂, NOx, PM 2.5 emissions, and does not emit SO₂, aligning with Vietnam’s commitment to net-zero emissions by 2050 as declared at COP26.
Once operational, the plant is expected to supply 6 – 10 billion kWh of electricity annually, creating about 2,000 jobs during construction and 300 permanent jobs during operation. Notably, the plant is expected to contribute approximately 3,000 billion VND/year to the budget over 25 years.
The Thai Binh LNG Thermal Power Plant project is invested by Thai Binh LNG Power JSC (established in January 2024), comprising three shareholders: Tokyo Gas (Japan) with 40%; Kyuden International (Japan) with 30%; and Truong Thanh Vietnam Group – TTVN Group with 30%.
Among the three shareholders, two are Japanese companies. Specifically, Tokyo Gas, established in 1885, is one of the world’s leading gas suppliers. The company has a stable LNG source due to its investment in numerous LNG production projects across various countries and territories. Kyuden International Corporation, a subsidiary of Kyushu Electric Power established in 1999, is tasked with developing energy projects globally. This company ranks among the top 5 in Japan for developing power plants.
Meanwhile, TTVN Group is among the top 10 leading clean energy enterprises in Vietnam, having successfully invested and commercially operated 4 renewable energy projects with a total capacity of 404 MW.
Previously, on September 26th, in Kien Hung commune (South Hai Phong Coastal Economic Zone), the Hai Phong LNG Thermal Power Plant was officially groundbreaking. The project is invested by a joint venture between Vingroup and VinEnergo Energy JSC, with a total capital of over 178,000 billion VND. The project covers an area of nearly 100 hectares, with a capacity of 4,800 MW, and is expected to be operational by the end of 2030.
In Vietnam, energy is considered a key sector, playing a crucial role in promoting the country’s socio-economic development. Previously, a major energy project in Vietnam was groundbreaking. Specifically, on September 26th, in Kien Hung commune (South Hai Phong Coastal Economic Zone), the Hai Phong LNG Thermal Power Plant was officially groundbreaking. The project is invested by a joint venture between Vingroup and VinEnergo Energy JSC, with a total capital of over 178,000 billion VND. The project covers an area of nearly 100 hectares, with a capacity of 4,800 MW, and is expected to be operational by the end of 2030.
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The Thai Binh LNG Thermal Power Plant project boasts a staggering investment of approximately $2 billion, with an electrical output surpassing that of Vietnam’s largest hydroelectric plant by 1.6 times. Upon completion, the plant is expected to contribute an impressive $4,000 billion VND annually to the state budget.
