Vietnam Electricity and Hiep Phuoc Power Begin Construction of $718 Million LNG Power Plant in Ho Chi Minh City

Vietnam Electricity and Hiep Phuoc Power Co., Ltd. have initiated construction on the Hiep Phuoc LNG power plant in Ho Chi Minh City, valued at $718 million. This is Vietnam's second LNG power purchase agreement and complies with Government Decree No. 56. The facility, classified as a national key project, will have a capacity of 1,200 MW and is expected to generate over seven billion kWh annually, supporting the national energy supply.

Published Mar 28, 2026

Vietnam Electricity and Hiep Phuoc Power Co., Ltd. have signed a power purchase agreement and commenced construction of the Hiep Phuoc liquefied natural gas (LNG) power plant in Ho Chi Minh City, with an investment of approximately $718 million. This project is Vietnam's second LNG power purchase agreement and follows Government Decree No. 56.

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The plant, classified as a national key project, will be built under a build-own-operate model, featuring Siemens gas turbines. It will have an installed capacity of 1,200 MW and is projected to deliver over seven billion kWh of electricity annually. Vietnam aims to complete 15 large-scale LNG projects by 2030 as part of its Power Development Plan VIII.