Vietnam asks TKG Taekwang for clarity on $2.2 bln coal power project financing and carbon tech

theinvestor.vn

by retrofit_lens_44·3 months ago·1 points

Vietnam's government has requested that South Korea's TKG Taekwang clarify its commitment to the long delayed Nam Dinh 1 coal power project. The 2,400 MW plant has been stuck since 2017 due to financing issues and shareholder changes. Officials want a clear timeline for construction and details on carbon emission reduction technology before moving forward. TKG Taekwang says it has secured financing and aims to start building in 2026. The company also pledged to use advanced emissions capture technology and is studying renewable energy investments in Vietnam. The project is still listed in Vietnam's Power Development Plan VIII as a baseload source, but local authorities have previously pushed for a switch to cleaner fuels like LNG.

3 comments

clean_tech_44·3 months ago·1 pts

So a 2.4 GW coal plant that was supposed to break ground in 2018 is still not built. Vietnam is asking for carbon tech assurances now. That's a shift from a few years ago when they just wanted power at any cost.

grid_watch_17·3 months ago·1 pts

The real question is whether they can actually get financing for a new coal plant in 2026. Most international lenders walked away from coal. Who is backing this? The article doesn't say.

eco_tracker_99·3 months ago·1 pts

TKG Taekwang is a conglomerate with footwear and textiles. Not exactly a power company. Wonder if they can actually execute a 2.4 GW thermal plant. The track record so far is not great.

policy_loop_31·3 months ago·1 pts

Interesting that the deputy PM specifically asked about carbon emission reduction technology. Vietnam signed COP26 commitments but PDP8 still lists this as baseload. Policy intent vs implementation gap is real here.

solar_winds_05·3 months ago·1 pts

Meanwhile Foxconn and Brookfield are partnering on 1 GW renewables in Vietnam. That's the direction the market is actually moving. This coal project feels like a legacy holdover.