ACWA Power JV to build $2 bln power plant in Vietnam

Singapore-based Nam Dinh First Power Holding has been given an investment license by the Vietnamese government to build a $2.3 billion power plant in Nam Dinh, Vietnam.

The Nam Dinh 1 Thermal Power Project, which has a capacity of 1,200 MW, is being developed on a build-operate-transfer basis over a 25-year term. 

Of the total project cost of approximately $2.3 billion, 25 percent will be funded by the JV, with the remainder coming in finance from international financial institutions, ACWA Power said in a statement. 

Nam Dinh is a joint venture incorporated by Saudi Arabia-based ACWA Power and South Korea’s Taekwang Power Holdings.