Russian energy company Inter RAO has signed a memorandum of understanding (MOU) with Quang Binh Province to build a US$2.4 billion coal-fired power plant.
According to the MOU, the Quang Trach 2 plant will be built on 150 hectares (370 acres) in Quang Trach District using the build-operate-transfer (BOT) investment model, Thoi Bao Kinh Te Sai Gon (Saigon Times Online) reported.
The plant has a combined capacity of 2,400 MW and is scheduled to become operational by 2024.
Quang Binh is still building the Quang Trach 1 thermal power plant, which Vietnam Oil and Gas Group (PetroVietnam) is financing. The $1.7 billion plant has a capacity of 1,200 MW.
The province expects the Quang Trach 1 plant to add around 8.5 billion kWh per year to the national power grid.