The Vietnamese Government expects to approve investment licences for three coal-fired power plants, worth $7.5bn.
Investors from Japan, South Korea and Saudi Arabia are anticipated to secure licences to develop the projects.
As per Vietnam’s Ministry of Planning and Investment, South Korea-based Taekwang Power and Saudi Arabian firm ACWA Power are expected to invest around $2.07 for the development of a 1,200MW thermal power plant.
ACWA’s thermal power plant is expected to be operational in 2021.
Japan-based Marubeni and the Korea Electric are planning to invest around $2.79bn to develop 1,200MW facility, which is expected to be operational in 2021.
Another Japan firm Sumitomo is planning to invest around $2.64bn to construct 1,320MW coal-fired power plant, which would be operational in 2022.
The Vietnamese government has granted approval for South Korean firm Posco Energy to develop coal-fired thermal power plant, with an investment of around $2.5bn.
The construction on the project is expected to start in 2022, and is slated to begin operations in 2026.
Vietnam is expected to have more than 64 coal-fired power plants with an installed capacity of around 56,325MW by 2030.
Currently, around 26 coal-fired power plants with an installed capacity of about 13,810MW are operational, while other 15 projects are under development in the country.
In April this year, the World Bank approved a $102m loan to the Vietnamese government to adopt energy-efficiency technologies and practices across industrial enterprises.