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| Phu My III Project is the IPP business invested by a consortium of Kyushu Electric and Sojitz Corporation, BP and SembCorp Utilities in a 1:3 ratio. The project encompasses highly efficient combined cycle power generation using domestic natural gas, and wholesale supply of power in conformity with a 20-year power purchase agreement with EVN. The natural gas is supplied by Nam Con Son gas field, southeast offshore of Vietnam. |
| This is Kyushu Electric's third overseas IPP project after Mexico's Tuxpan II Project and the Philippines' Ilijan Project. Kyushu Electric has sent its staff to provide support for operation and maintenance. |
| Nippon Export and Investment Insurance, Multilateral Investment Guarantee Agency and ADB have provided country risk insurance for commercial banks financing this project. |
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Power station |
| Location |
: |
Phu My Industrial District, Ba Ria Vung Tau Province (approx. 80 km SE of Ho Chi Minh) |
| Generation type |
: |
Natural gas combined cycle |
| Capacity |
: |
744,000kW (2 gas turbines + 1 steam turbine) |
| Construction cost |
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Approx. US$400 million |
| Fuel in use |
: |
Natural gas (supplied by PV) |
| Start of construction |
: |
Dec. 2001 |
| Start of operation |
: |
Mar. 2004 |
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| *1 |
Kyushu Electric: Sojitz = 80 : 20 |
| *2 |
BP: Major British oil company |
| *3 |
SembCorp: Singapore state company; primary business includes electricity, gas, water, construction, environment, transportation and shipbuilding |
| *4 |
BOT:Build, Operate, and Transfer |
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