CLP HOLDINGS LIMITED 5 November 2015
中電控股有限公司
CLP Holdings Limited
CLP Holdings (CLP) is pleased to announce that Vinh Tan 3 Energy Joint Stock Company (VTEC), co-owned by CLP, today signed a Memorandum of Understanding (MoU) with China Development Bank Corporation (CDB) regarding the Vinh Tan 3 power project in Vietnam.
In a signing ceremony in Hanoi witnessed by the President and General Secretary of the Communist Party of China Xi Jinping and the General Secretary of the Communist Party of Vietnam Nguyen Phu Trong, VTEC and CDB have agreed to carry out their investment and financing endeavour in cooperation with each other with respect to the potential development of Vinh Tan 3.
Vinh Tan 3 is expected to be one of Vietnam's first imported coal projects with capacity of 1,980MW (3 x 660MW). It plans to adopt high-efficiency technology and other emission control equipment including desulphurisation plants and selective catalytic reactors to minimise various sources of emissions. The power station is situated near Ho Chi Minh City with a natural deep seaport and strong market fundamentals. It will be a major contributor to the growth of power supply in southern Vietnam, where demand has been growing by more than 10% a year, and will be an important power source for the Vietnamese grid upon completion. Commercial operation of the first unit is targeted for 2020.
As a co-owner alongside offtaker Vietnam Electricity Group (EVN), CLP has a leading role in the development of the project due to its strong experience and expertise in financing, project management, operations and maintenance management, and coal procurement through years of reliable operation in its major markets in Hong Kong, Mainland China as well as India. VTEC aims to finalise contractual arrangements with the Vietnamese Government soon with a view to commencing project financing in the next stage.
Geert Peeters, Chief Financial Officer of CLP, said, 'The agreement marks a very important milestone in the development of the project. We now look forward to finalising the Build- Operate-Transfer Contract with the Vietnamese Government, which will help us to confirm the terms of our Power Purchase Agreement in order to make a final investment decision.
'CLP looks forward to this new opportunity of joining forces with Mainland Chinese financial institutions and power equipment manufacturers in order to deliver to our customer EVN a project which will bring EVN one step nearer to its goal of becoming a leading ASEAN utility.'
VTEC is currently owned by CLP's subsidiary OneEnergy Ventures Limited, EVN and Pacific Group Corporation, a private Vietnamese enterprise. CDB intends to serve as one of the leading banks to provide long-term project financing to the project.
- Ends -
About CLP GroupCLP Holdings Limited, a company listed on the Hong Kong Stock Exchange, is the holding company for the CLP Group, one of the largest investor-owned power businesses in Asia Pacific. Through CLP Power Hong Kong Limited, it operates a vertically-integrated electricity supply business providing a highly-reliable supply of electricity to 80% of Hong Kong's population.
Outside Hong Kong, CLP holds investment in the energy sector in Mainland China, India, Southeast Asia，Taiwan and Australia. Its diversified portfolio of generating assets uses a
wide range of fuels including coal, gas, nuclear and renewable sources. CLP is one of the largest external investors in the Mainland's renewable energy sector. In India, it is the largest foreign investor in the power sector and the biggest independent power producer in wind energy, foreign or domestic. In Australia, its wholly-owned subsidiary EnergyAustralia is one of the largest integrated energy companies, providing gas and electricity to 2.6 million customers.
CLP is listed in the Global Dow - a 150-stock index of the world's leading blue-chips, the Dow Jones Sustainability Asia Pacific Index (DJSI Asia Pacific), the Dow Jones Sustainability Asia Pacific 40 Index (DJSI Asia Pacific 40), Hang Seng Corporate Sustainability Index Series and MSCI Global Sustainability Index Series.
Ms Justine Lau Mr Angus Guthrie
Public Affairs Manager Director - Investor Relations
CLP Power Hong Kong Limited CLP Holdings Limited
Tel: (852) 2678 8963 Email: ir@clp.com.hk
Pager: (852) 7116 3131 A/C 7736
Email: justine.lau@clp.com.hk
|
distributed by
|
