Thai Binh Power Center

From Global Energy Monitor

Thái Bình Power Center is a 600-megawatt (MW) coal-fired power station in Thái Bình province, Vietnam. A 1,200 MW expansion is under construction, and a further 440 MW expansion has been proposed.


The map below shows the project site in My Loc commune of Thái Bình province, with Thái Bình-1 to the south and Thái Bình-2 to the north.[1] A 2011 contract said the power center is on 43 hectares of land,[2] although a 2010 report states that the power center will occupy 250 hectares of land.[3]

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In May 2009, PetroVietnam and Electricity of Vietnam (EVN) began preparation work for the Thái Bình power center, an 1,800-MW coal-fired power plant in Thái Bình province. Electricity of Vietnam is building the two-unit, 600-MW Thái Bình-1, while PetroVietnam is building the two-unit, 1,200-MW Thái Bình-2.[4]

In July 2013 — after protests by U.S. environmental groups including Friends of the Earth, Greenpeace, Pacific Environment, and the Center for Biological Diversity — the U.S. stated that the U.S. Export-Import Bank would not be extending financing to the Thái Bình power center as previously planned.[5][6]

Thái Bình-1

The Thai Binh 1 Thermal Power Plant is a proposed 600 megawatt coal-fired plant. In December 2013, Electricity of Vietnam and Japan's Marubeni Corporation signed a construction contract for Thái Bình-1.[7] Construction broke ground in February 2014. The first unit is scheduled to go online in November 2017, and the second in May 2018.[8] In July 2015, EVN applied for approval to build transmission lines for the plant.[9]

In May 2017, EVN connected the two units of Thai Binh-1 to the national grid.[10]

According to EVN, Thai Binh-1 Unit 1 went into commercial operation in Q4 of 2017 and Unit 2 will go into operation in Q2 of 2018.[11] Unit 2 was commissioned in May 2018.

Thái Bình-2

Thai Binh 2 Thermal Power Plant is a US$1.6 billion, 1,200 megawatt power station being developed by Vietnam's state oil and gas group Petrovietnam.[12]

PetroVietnam began site clearing work for Thái Bình-2 in March 2011.[13] In May 2012, PetroVietnam signed a contract with a consortium consisting of Japan's Sojitz Corporation and Korea's Daelim Group for the construction of Thái Bình-2.[14]

The plant has been scheduled to be completed in 2015, but the project has had some significant delays, and it is unclear whether or not construction is still on this schedule. As of August 2014, construction was 39% complete.[15] In May 2015, construction began on the plant's cooling pipeline system.[16][17]

In December 2017, the company revised the projected completion dates to "end of December 2018" for Unit 1 and March 2019 for Unit 2.[18]

In January 2018, the former head of PetroVietnam, Dinh La Thang, was sentenced to thirteen years in prison for embezzling funds from the Thái Bình-2 project.[19] In November 2018, the Ministry of Trade and Industry (MOIT) issued a report detailing problems with the construction of Thái Bình-2.[20] Problems included a shortfall in financing for the project, low quality materials which in some cases were past their expiration dates, and the slow pace of construction, which rose from 80.9% complete in November 2017 to 82.78% complete in October 2018.[20]

In March 2019, PetroVietnam announced that Thái Bình-2 was scheduled to enter operations in 2020.[21] In June 2019 the completion date was delayed to 2021 in the Ministry Of Industry And Trade's report on the implementation of the revised seventh Power Development Plan (PDP7).[22] In July 2019 it was reported that credit for the project had been cut and construction had been suspended due to the embezzlement scandal and other problems detailed in the MOIT's November 2018 report.[23] PetroVietnam was seeking approval from the MOIT and the Committee for Management of State Capital (CMSC) to resume construction.[23] In November 2019 construction had resumed and the plant was reportedly 84.2% complete. Unit 1 is scheduled to come online in December 2020 and Unit 2 in the first quarter of 2021.[24] The project was 85% complete as of the end of Q1 2020 however it was reportedly near bankruptcy.[25] The government's State Capital Management Committee gave its sponsors permission to to use equity to finish the project as its borrowed funds were nearly depleted.[25]

During a May 2021 visit to the construction site by representatives of the Vietnamese Ministry of Industry and Trade, new target operation dates were announced: November 2022 for Unit 1, and December 2022 for Unit 2. During the visit, plant officials reported that construction was 86% complete, meaning that construction had barely progressed since March 2020.[26] In May 2022, it was reported that Unit 1 would be commissioned in November 2022.[27]

On July 4, 2022, the Ministry of Industry and Trade appeared to provide an update on the draft PDP. The document’s list of major power projects planned for 2021-2030 (PDF pages 18-20) includes the project with progress at 94%.[28]

Thái Bình-3

In July 2018 it was reported that the Vietnam National Coal and Mineral Industries Group (Vinacomin) was pursuing a 440 MW addition at the plant, which has been included in the country's Power Plan VII.[29] As of December 2020 the project has not advanced in more than two years, and appears to be shelved. The project does not appear in the September 2021 or July 2022 drafts of the Power Development Plan 8 (PDP8).[30][31]


Financing for Thái Bình-1

"Total investment exceeded VND 26,500bn (US$1.16bn), of which 85% were finance through a loan from the Japan International Cooperation Agency (JICA) and 15% from EVN."[10]

Financing for Thái Bình-2

In August 2013, it was announced that US$141 million in loans will be provided by the Japan Bank for International Cooperation (JBIC), Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, and Citibank, with JBIC providing US$85 million of that. Nippon Export and Investment Insurance provided buyer's credit insurance for the portion financed by private banks.[32] In December 2013, a second financing arrangement was announced: the Export-Import Bank of Korea would provide the project with US$330 million in loans; US$270 million would be provided by the Bank of Tokyo-Mitsubishi UFJ, Ltd (BTMU), Citibank, HSBC Bank, Mizuho Bank, Standard Chartered Bank (SCB), and Oversea Chinese Banking Corporation (OCBC), and insured by the Export-Import Bank of Korea; and US$195.25 million would be provided by BTMU, China Development Bank (CDB), Citibank, HSBC, Mizuho, OCBC and SCB.[33] IJGlobal reports that financial close for the second agreement was reached on May 19th, 2015.[34]


In July 2013, five environmental groups wrote to former President Barack Obama to stop U.S. funds for building the Thai Binh power plant in Vietnam. The groups, which included Friends of Earth, Greenpeace USA, Pacific Environment, Center for International Environmental Law, and Center for Biological Diversity, argued that the Thai Binh coal plant would use outdated tech and violate Obama’s Climate Action Plan. The U.S. Export-Import Bank subsequently did not proceed with financing U.S. exports to help build the Thai Binh plant.[35]

In April 2015, a report released by environmentalists, such as the Friends of Earth Japan, detailed the reality of Japanese-funded coal plants and their harm, including the Vietnamese Thai Binh power plant.[36]

In May 2019, environmentalist groups, such as Unfriend Coal, released a report around how Talanx needs to stop investing and insuring coal plants, including the Thai Binh power plant.[37]

Project Details

  • Sponsor: Electricity of Vietnam and Electricity Generation Corporation 3 (EVNGENCO); (Thái Bình-1); PetroVietnam (Thái Bình-2); Vinacomin ((Thái Bình-3)
  • Parent company: Electricity of Vietnam and Electricity Generation Corporation 3 (EVNGENCO); (Thái Bình-1); PetroVietnam (Thái Bình-2); Vinacomin ((Thái Bình-3)
  • Location: Mỹ Lộc commune, Thái Thụy district, Thái Bình province, Vietnam
  • Coordinates: Thái Bình-1: 20.4809977, 106.5604517 (exact); Thai Binh-2: 20.4828445, 106.563262 (exact)
  • Status: Thai Binh-1 Unit 1: Operating; Thai Binh-1 Unit 2: Operating; Thai Binh-2: Unit 1: Construction; Unit 2: Construction; Thái Bình-3: Shelved
  • Gross Capacity: 2,200 MW (600 MW (Thái Bình-1); 1,200 MW (Thái Bình-2)); 440 MW (Thái Bình-3)
  • Type: Subcritical (Thái Bình-1); Supercritical (Thái Bình-2)
  • Start year: Nov. 2017 (Thái Bình-1 Unit 1); May 2018 (Thái Bình-1 Unit 2); 2022 (Thái Bình-2 Unit 1); 2022 (Thái Bình-2 Unit 2)
  • Coal Type: Anthracite
  • Coal Source: Domestic
  • Source of financing:
    • Thai-Binh-1: VND 26,500 billion (US$1.16 billion), with 85% from Japan International Cooperation Agency (JICA) and 15% from EVN[10]
    • Thai-Binh-2: Export-Import Bank of Korea (US$330 million in debt); Bank of Tokyo-Mitsubishi UFJ (US$91.56 million in debt); Citibank (US$91.56 million in debt); HSBC Bank (US$72.89 million in debt); Mizuho Bank (US$91.56 million in debt); Standard Chartered Bank (US$72.89 million in debt); Oversea Chinese Banking Corporation (US$72.89 million in debt); China Development Bank (US$27.89 million in debt); Japan Bank for International Cooperation (US$85 million in debt)[33][32]

Articles and resources


  1. NHÀ MÁY NHIỆT ĐIỆN THÁI BÌNH 1 (EVN) 2X300MW, Wikimapia, accessed Apr. 2015.
  2. "Contract signed for Thai Binh 2 power plant", Vietnam+, February 28, 2011.
  3. "Work on Thai Binh 2 thermo power plant to start in December 2010", Vietnam Business News, June 26, 2010.
  4. PVN Commence the Construction of the 1,800 MW Electricity Center, PetroVietnam press release, May 17, 2009.
  5. Ex-Im Bank Won't Finance Vietnam Coal-Fired Power Plant, Reuters, July 18, 2013.
  6. Kate Sheppard, US Won't Fund a Massive Coal Plant in Vietnam, Mother Jones, 19 July 2013.
  7. Contract Inked for Thai Binh Power Plant Construction, Vietnam+, Dec. 26, 2013.
  8. Construction of Thai Binh power plant set to begin, Viet Nam News, 24 Feb. 2014.
  9. Thai Binh Thermal Power Plant and Transmission Lines Construction Project, Japan International Cooperation Agency website, 6 July 2015.
  10. 10.0 10.1 10.2 "EVN commissions 600 MW Thai Binh-1 coal-fired power plant," Asian Power, 30 May 2017
  11. "Thai Binh Thermal Power Plant Project," Electricity of Vietnam, accessed 25 January 2018
  12. "Projects that have been and are being Invested" Petrovietnam Power Corporation.
  13. Thai Binh 2 Thermal Power Plant Begins Construction, EPRO News, Mar. 2, 2011.
  14. US $820 Million EPC Contract Signed for Thai Binh 2 Power Plant, Hanoi Taiwanese Economic & Cultural Office press release, June 4, 2012.
  15. Thai Binh 2 Thermal Power Plant: Installation of first steel structure, PetroVietnam press release, 19 Aug. 2014.
  16. Thai Binh 2 Thermal Power Plant has been made the Cooling Pipe System by Vietnam, Vietnam Energy, 27 May 2015.
  17. Nhà máy Nhiệt điện Thái Bình 2 thành công lắp đặt bao hơi Tổ máy số 2, Vietnam Ministry of Industry & Trade website, 19 May 2015.
  18. "Dự án Nhiệt điện Thái Bình 2 điều chỉnh hợp đồng giữa 'tâm bão',", 12 December 2017
  19. [1], PetroVietnam ex-chief sentenced to 18 years in jail in Vietnam], Agencia EFE, Mar. 29, 2018
  20. 20.0 20.1 Thai Binh 2 Thermal Power Plant: The difficult problem from the Ministry of Industry and Trade turned to 'Super Committee', Vietnambiz, Dec. 31, 2018
  21. PVN quyết đưa Nhà máy Nhiệt điện Thái Bình 2 hoạt động năm 2020, Thoi Bao Taichinh Vietnam, Mar. 25, 2019
  22. Implementation of Power Projects iIn the Revised Power Development Plan 7, Ministry of Industry and Trade, Republic of Vietnam, Jun. 4, 2019
  23. 23.0 23.1 PetroVietnam seeks resumption of suspended thermal power project, VNE Express, Jul. 24, 2019
  24. Để không ai phải bị cách chức khi thiếu điện, Petro Times, Nov. 4, 2019
  25. 25.0 25.1 Lợi ích nhiều mặt, Bao Tai Nguyen Moi Truong, Apr. 9, 2020
  26. NMNĐ Thái Bình 2 “chạy đua với thời gian”, PetroTimes, May 5, 2021
  27. Van Phong, Thai Binh 2 thermal power plant to be operational by end-2022, Saigon Times, May 9, 2022
  28. “Draft National Power Development Plan VIII,” MOIT, July 4, 2022
  29. "TKV khởi động dự án nhiệt điện 440MW tại Thái Bình," Nang Luong Vietnam, 23/07/2018
  30. 2021 Draft PDP 8,, accessed 12-3-2021
  31. “Draft National Power Development Plan VIII,” MOIT, July 4, 2022
  32. 32.0 32.1 "Buyer's Credit for Petrovietnam | JBIC Japan Bank for International Cooperation". Retrieved 2020-09-24.
  33. 33.0 33.1 "Thermal power project warms up". Retrieved 2020-09-24.
  34. Thai Binh 2 Thermal Power Plant Financing (1200MW), IJGlobal, July 18, 2017
  35. “Ex-Im Bank won’t finance Vietnam coal-fired power plant”, Reuters, July 18, 2013.
  36. “Dirty Coal”, Kiko Network et al., April 2015.
  37. “Talanx: Seriously Clearing Up or Silently Continuing Support for Coal?”, Urgewald, May 2019.

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