Attending the groundbreaking ceremony were former Politburo member and former Standing Secretary of the Secretariat Tran Quoc Vuong; Party Central Committee member, Minister of Industry and Trade Nguyen Hong Dien; Hung Yen Provincial Party Secretary Nguyen Huu Nghia; Chairman of Hung Yen Provincial People's Committee Nguyen Khac Than, and leaders of a number of central and central ministries and branches of Hung Yen province.
National strategic key project on energy
The groundbreaking ceremony is an activity to celebrate the 1st Congress of the Hung Yen Provincial Party Committee, term 2025-2030, and towards the 14th National Party Congress.
The project is identified as a strategic key project in terms of energy, contributing to ensuring electricity security for the Northern region and the whole country. Currently, Vietnam's power system is facing the risk of a shortage of supply in the North - an area that accounts for about 40% of total national electricity demand, with an average growth rate of over 10% per year.
In that context, the Thai Binh LNG Thermal Power Plant Project is considered a timely and sustainable solution to meet the load demand, reduce pressure on the national power system, and at the same time implement Resolution No. 55-NQ/TW of the Politburo on the national energy development strategy in the direction of green, clean, safe and effective.
The project is invested by Thai Binh LNG Power Joint Stock Company (established in January 2024), including three shareholders: Tokyo Gas (Japan) holding 40%; Kyuden International (Japan) 30%; and Truong Thanh Vietnam Group (TTVN Group) 30%.
The total investment capital is about 2.69 billion USD, the designed capacity is 1,500 MW, with a scale of 269 hectares (including 57 hectares on land and 212 hectares of sea surface). It is expected that the entire project will be completed and commercially operated in the fourth quarter of 2029.
The project includes two complexes of high-performance mixed-use gas turbines, using liquefied natural gas (LNG) fuel - helping to significantly reduce CO2, NOx, PM2.5 emissions and no SO2 emissions, in line with Vietnam's commitment to net emissions of "0" by 2050 announced at COP26.
When put into operation, the plant is expected to provide 6-10 billion kWh of electricity/year, creating about 2,000 jobs during the construction phase and 300 regular jobs during operation, while contributing about 3,000 billion VND/year to the budget during 25 years of operation.
The mark of Vietnam - Japan cooperation and the green energy vision
The Thai Binh LNG project is the result of strategic cooperation between Vietnam and Japan in the field of clean energy.
Speaking at the groundbreaking ceremony, Japanese Ambassador Ito Naoki emphasized that the Japanese Government is committed to accompanying Vietnam and hopes to continue 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 sustainable cooperation between the two countries.
Speaking at the ceremony, Chairman of Hung Yen Provincial People's Committee Nguyen Khac Than said that the 1st Provincial Party Congress, term 2025-2030, has identified the development of clean energy and renewable energy as one of the strategic pillars for Hung Yen to develop rapidly and sustainably, aiming to become the energy center of the Red River Delta.
Hung Yen province is orienting towards building a multi-industry free economic zone according to international standards, developing a sustainable marine economy, forming an industrial - energy - service - logistics chain, associated with the goal of becoming an integrated energy center in the region.
Chairman Nguyen Khac Than affirmed that the Thai Binh LNG Thermal Power Plant Project is not only a key energy project, but also a strategic project on socio-economic development, creating a large budget revenue source, thousands of new jobs, while creating momentum to attract investment, spread the development of high-tech industry and clean energy.
This is not just a power project, but the first step for the green energy vision of Hung Yen and Vietnam in the era of global energy transition - Chairman of Hung Yen Provincial People's Committee Nguyen Khac Than emphasized.
