Activities in Vietnam
The AES Corporation (AES) AES is a Fortune 500 global power company. We provide affordable, sustainability energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 10,500 people is committed to operational excellence and meeting the world’s changing power needs. Our 2018 revenue were $US 11 billion and we own and manage $US 33 billion in total assets.
Combining deep local insight with a global presence and more than 30 years of experience, AES has a proven commitment to ensuring operational excellence in providing electricity to its customers through a broad range of technology and fuel types, including coal, diesel, hydropower, gas, oil, wind, solar and biomass. Beside our main business operation in power generation and distribution, AES also has record of experience in financing, construction, operation and maintenance of LNG Terminals.
AES in Vietnam
Our vision is to be a leading sustainable power company in Vietnam that provides safe, reliable and affordable energy.
AES, through its subsidiary, AES Mong Duong Power Company Limited, previously named AES-VCM Mong Duong Power Company Limited, has successfully developed and arranged financing for the Mong Duong 2 BOT Power Project of 1,242 MW with the total investment of approximately 2,1 billion USD. This is Vietnam’s first and largest Build – Operate – Transfer (“BOT”) coal-fired power project, representing approximately 2.6% of the country’s installed capacity.
In November 2017, AES signed an MOU with PV Gas in the presence of US President Donald J. Trump and Vietnam President Tran Dai Quang to develop $1.3 billion Son My LNG Terminal Project. In November 2019, AES also signed an MOU with Ministry of Industry and Trade to develop a 2.2 GW combined cycle gas turbine (CCGT) power plant under the BOT scheme, which will be located in Binh Thuan province. Together, the CCGT
and terminal are expected to play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG and meeting the country’s increasing demand for sustainable and affordable electricity.