Project Data Sheets (PDS) contain summary information on the project or program: Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
|PDS Creation Date||31 Jul 2006|
|PDS Updated as of||26 Mar 2015|
|Project Name||VIE: MEKONG ENERGY COMPANY LIMITED (Phu My 2.2 Power)|
|Geographical Location||Ba Ria-Vung Tau Province, South east of Ho Chi Minh City|
|In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.|
|Subsector||Conventional energy generation|
|Drivers of Change||–|
|Gender Equity and Mainstreaming Categories||–|
Electricite de France
Summit Global Management II B.V.
|Type/Modality of Assistance||Approval Number||Source of Funding||Approved Amount (thousand)|
|PS||1906/1906||LIBOR Based Loan||US$ 50,000|
|PS||1906/1906||PRG Guarantee of Rec without Govt Guarantee||US$ 25,000|
For more information about the safeguard categories, please see http://www.adb.org/site/safeguards/safeguard-categories
Environment monitoring has been carried out since COD. The Project is in compliance with environmental guidelines with concentrations of nitrogen oxides (NOx), sulfur oxides (SOx), carbon monoxide (CO) and dust significantly below the World Bank and Viet Nam limits. It has implemented an e-monitoring system wherein conditions and performance of the plant is monitored round the clock to secure the plant s operations. The Project has also established an Environmental Management System to ensure that management and staff commit to take care of the environment and to manage for continual improvement of environmental performance, including health and safety procedures.
An annual review mission is scheduled sometime in October 2014.
|The Project involved construction and operation of a 715 MW gas-fired combined cycle power plant in the Phu My Power Generation Complex in Ba Ria-Vung Tau Province under a build-operate-transfer (BOT) contract. The Project provides additional base-load capacity to mitigate the country's projected power shortfall. The electricity is purchased by Electricity of Vietnam (EVN) under a 20-year power purchase agreement on a take-or-pay basis. The Project is Viet Nam's first private power project awarded on the basis of an international competitive bidding process. The Government guarantees the performance obligations of the Vietnamese counterparties and also the availability, convertibility, and transferability of foreign exchange.|
|The Project helps (i) ease Viet Nam's power supply shortfall in a least-cost manner; (ii) minimize the power system's dependency on hydropower, which is highly seasonal; (iii) EVN rapidly expand consumer access to competitively priced and reliable power supply within a relatively short time period; and (iv) improve the power sector's governance and efficiency by promoting good commercial practices in power plant operation and management.|
|The Project is consistent with ADB's energy sector strategy as well as ADB's Vietnam country strategy and program that advocate private sector participation in infrastructure development and use of environmentally friendly technology.|
|Description of Project Outputs
|Status of Implementation Progress (Outputs, Activities, and Issues)
|Status of Development Objectives
The Project has succeeded in meeting its primary development objectives. It is one of the two large-scale BOT gas-fired power plants which contributes to more reliable base load and more diversification of energy sources in Viet Nam. It serves as a successful model for the development of an integrated gas for power project. The Project involves the transfer of technology and best practices in power plant operation, as well as in environment, health and safety management. Following the successful implementation of Phu My 2.2 and Phu My 3, Viet Nam is developing other power plant complexes with foreign private sector participation replicating the Phu My model.
|Status of Operation / Construction
The Project has been operating satisfactorily since its commercial operations date was declared on 4 February 2005.
|Date of First Listing||–|
|Procurement and Consulting Notices
|Concept Clearance||17 Oct 2001|
|Due Diligence Mission||19 Mar 2002 to 25 Mar 2002|
|Investment Committee Meeting||02 May 2002|
|Approval||02 Jul 2002|
|Responsible ADB Officer||Regina V. Caluag (email@example.com)|
|Responsible ADB Department||Private Sector Operations Department|
|Responsible ADB Divisions||Infrastructure Finance Division 2|
|List of Project Documents||http://www.adb.org/projects/35914-014/documents|