HCMC – Mekong Energy, a consortium comprising France’s EDF, Japan’s Sumitomo Corporation and JERA, marked the 20th anniversary of its Phu My 2.2 Power Plant at a ceremony held in HCMC on December 13.
Commercial operation started in February 2005 after 30 months of construction, the 715MW plant is located in the Phu My Thermal Power Plant Complex in the southern province of Ba Ria-Vung Tau. With investment capital totaling US$400 million, this combined cycle gas project is the first build-operate-transfer (BOT) power plant in Vietnam fully financed by foreign investors.
Shareholders (EDF, Sumitomo Corporation, and JERA) provided 25% of the funding, while the remaining 75% was secured through loans from international institutions, including the Japan Bank for International Cooperation (JBIC), the Asian Development Bank (ADB), and Société de Promotion et de Participation pour le Coopération Économique (PROPARCO).
The plant, powered by two General Electric 9FAe class F gas turbines and one General Electric class D11 steam turbine, utilizes natural gas sourced from the Nam Con Son gas field. Since its inception, Phu My 2.2 has generated over 91 terawatt-hours of electricity. This project contributed to meeting the country’s growing power demand.
Phu My 2.2 prioritized safety throughout its operation, achieving over 13 consecutive years without lost-time incidents for its staff and exceeding two million consecutive safe work hours for contractors. Its safety performance was recognized by JERA with their most prestigious safety award in 2023.
Phu My 2.2 achieved a 94.8% yearly availability factor in 2022, with 53 months of full availability since its commissioning in 2005. In 2023, the plant set a new record with seven months of continuous full availability, including 152 consecutive days of uninterrupted operation. No environmental incidents were recorded during its operational history, according to a statement by Mekong Energy.
The plant has maintained ISO Quality, Safety, and Environmental certifications for 15 consecutive years. Stakeholder satisfaction averaged 93.3% over the past five years, and employee satisfaction reached 97%. Mekong Energy has also demonstrated a strong commitment to social responsibility. The company has undertaken 54 corporate social responsibility (CSR) programs, with a particular focus on children’s education, to foster a positive relationship within the local community.
As per the BOT contract, the plant will be transferred to the Vietnamese Government on February 4, 2025, with Vietnam Electricity Group (EVN) assuming operational responsibility.
To facilitate a smooth transition, Mekong Energy has closely collaborated with EVN on major equipment inspections and provided comprehensive on-the-job training for EVN personnel. A portion of Mekong Energy’s 70-member staff will be recruited by EVN to ensure operational continuity.
This transfer marks the conclusion of a project initiated by EDF, Sumitomo Corporation, and JERA.
