aes mong duong power

What aes mong duong power does

AES Mong Duong Power Company Limited is a Vietnamese project special-purpose vehicle that owns and operates the Mong Duong 2 coal-fired power plant in Quang Ninh Province under a 25-year Build-Operate-Transfer (BOT) concession. The facility consists of two 621 MW supercritical pulverized coal-fired boiler units totaling 1,242 MW of installed capacity, commissioned in April 2015 at a total project cost of approximately $2.1 billion of 100% foreign investment. All output is sold under a single 25-year Power Purchase Agreement to Electricity of Vietnam (EVN), the state-owned national utility, with the asset transferring to the Vietnamese government at concession expiry. The company is owned by AES Corporation (largest shareholder), POSCO Energy of Korea (30%), and China Investment Corporation (19%), and its $1.4 billion senior secured project finance debt facility from 2011 underpins the capital structure.

The business model is a regulated, contract-based generation utility: revenue is a function of dispatched kilowatt-hours multiplied by a regulated PPA tariff, with no merchant exposure, no retail customer relationships, and no secondary offtakers. Fuel is bituminous coal, sourced with proximity advantages from the Quang Ninh coal basin. Beyond the operating coal plant, AES Mong Duong is positioned within the broader AES Vietnam platform that is developing the Son My 2 combined-cycle gas turbine project and an associated Son My LNG import terminal, although those assets sit in separate entities rather than within this SPV.

Operationally, the plant has logged over 9 million safe work hours, 46 million man-hours without lost-time injury during construction, eleven consecutive years of RoSPA safety awards, Investors in People Gold (2025), and the 2025 AmCham CSR Award. The company is pursuing an internal APEX 2025 innovation initiative, including a machine learning-based power plant monitoring project, indicating modest digitalization of operations rather than a differentiated AI strategy.

Name

aes mong duong power

Legal name

AES Mong Duong Power Company Limited

Website

https://aesmongduong.vn

Company type

Private

Founded year

2011

Operating status

Operating

Short description

AES Mong Duong Power Company Limited is a Vietnamese project SPV that owns and operates the 1,242 MW Mong Duong 2 supercritical coal-fired power plant in Quang Ninh Province under a 25-year BOT concession, selling electricity exclusively to state-owned utility EVN under a long-term PPA, with mandatory asset transfer to the Vietnamese government at concession expiry.

Ownership category

akta.pro rank

Product category

Thermal Power Generation

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Coal/Lignite CHP (District Heating & Industrial) (EUACAKAD)

akta.pro secondary industry

Thermal Power Plant O&M (Coal, Gas, Oil) (EUAEAGAA)

Keywords

• Thermal power generation
• Coal-fired electricity
• Build-operate-transfer projects
• Baseload power supply
• Industrial power infrastructure

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Others

Revenue model

1. Electricity Generation and Sales: AES Mong Duong generates revenue by selling electricity to Vietnam Electricity (EVN) under a 25-year Power Purchase Agreement. The plant produces over 7.6 billion kWh of electricity annually, contributing to the national power grid.
2. BOT Power Plant Operations: Operating under Build-Operate-Transfer scheme where the plant will be transferred to the Vietnamese government after 25 years of operation

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

AES Mong Duong Power Company Limited owns and operates the Mong Duong 2 BOT (Build-Operate-Transfer) coal-fired thermal power plant in Quang Ninh Province, Vietnam. The plant has a total installed capacity of 1,242 MW across two units of 621 MW each, utilizing pulverized coal-fired boiler technology with advanced environmental controls. All electricity output is sold to state-owned Vietnam Electricity (EVN) under a 25-year Power Purchase Agreement, with the plant generating over 7.6 billion kWh annually for the Vietnamese national grid.

Product overview

AES Mong Duong Power Company Limited (AES-VCM) operates as a power generation company, primarily operating the Mong Duong 2 BOT Thermal Power Plant. The company is structured as a limited liability company formed by affiliates of The AES Corporation (USA, largest shareholder), POSCO Energy (Korea), and China Investment Corporation (China). The core product is the Mong Duong 2 power plant with 1,242 MW capacity, and the company is developing additional LNG-to-power projects including Son My 2 CCGT and Son My LNG terminal.

Differentiator

Problem solved

Functional benefit

Products and services

• Mong Duong 2 BOT Power Plant The Mong Duong 2 BOT (Build-Operate-Transfer) thermal power plant located in Quang Ninh, Vietnam, has a total installed capacity of 1,242 MW across two units of 621 MW each. The facility utilizes pulverized coal-fired boiler technology with advanced environmental controls and operates under a 25-year Power Purchase Agreement with Vietnam Electricity (EVN), supplying electricity to the national 500kV grid.

Quantifiable outcome

• Over 7.6 billion kWh of electricity generated annually
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature4 records

Partnerships

Five partnerships are on record, tiered core, minor and major.

• Vietnam Electricity (EVN) - Son My 2 CCGT ProjectcoreStrategic or Co-development Partner · 21 May 2025Strategic project central to Vietnam's energy transition. AES Vietnam President met with EVN Chairman to advance development of Son My 2 CCGT power plant and Son My LNG terminal supporting shift toward cleaner energy sources.
• Center for Education and Development (CED)minorStrategic or Co-development Partner · 24 April 2025Vietnamese organization coordinating with AES Vietnam for the AES Future Energy Scholarship Program 2024-2025, which selected 35 students from six universities for scholarships worth 14 million VND each plus soft skills training.
• Doosan Heavy Industries & Construction (Korea)coreStrategic or Co-development Partner · 1 January 2010South Korean EPC contractor appointed for Mong Duong 2 BOT power project. Project successfully built with world-class safety standards and construction quality.
• Vietnam Electricity (EVN)coreStrategic or Co-development Partner · 1 January 2010State-owned Electricity of Vietnam is the sole power purchaser under 25-year Power Purchase Agreement. EVN and AES Vietnam maintain ongoing cooperation including technical workshops with Power Transmission Company 1 for grid integration.
• Vietnam National Coal-Mineral Industries Holding Corporation (Vinacomin)majorStrategic or Co-development Partner · 1 January 2010Coal supply partner providing fuel source from one of the largest and highest quality coal mines in Northern Vietnam for Mong Duong 2 power plant.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• POSCO Energy: Korean power generation company holding a 30% equity stake in AES Mong Duong and operating similarly structured overseas thermal power projects. Directly comparable as a co-investor and operator of foreign coal/gas IPPs.
• Vinacomin (Vietnam National Coal-Mineral Industries Holding Corporation): Vietnamese state-owned coal miner and power generator; supplies coal to AES Mong Duong and operates its own coal-fired power plants in Vietnam. Directly comparable as a Vietnamese coal-fired generation operator.

Broad incumbents

• The AES Corporation: Fortune 200 global power company and largest shareholder of AES Mong Duong, with a diversified global portfolio of generation and distribution businesses across 20 countries. Comparable as the parent platform and broader IPP operator.
• Engie: Global multinational utility with significant IPP and renewable energy operations across Asia, including Vietnam. Comparable as a large international power company with foreign-invested projects in the region.
• China Huadian Corporation: One of China's largest state-owned power generation groups, with extensive coal-fired and renewable generation capacity. Comparable as a major coal-fired power operator with international operations.
• CLP Holdings: Hong Kong-based power company with generation, transmission, and distribution assets across Asia-Pacific, including Southeast Asia. Comparable as a vertically integrated utility with international IPP investments.

Regional players

• Sembcorp Industries: Singapore-based energy and urban development company with significant thermal power and renewable energy operations across Southeast Asia, including Vietnam. Comparable as a regional independent power producer with cross-border IPP experience.
• Ratch Group: Thailand-based IPP with a portfolio of domestic and regional power projects, including fossil-fuel and renewable generation. Comparable as a Southeast Asian IPP with BOT/PP合同的 experience.
• Electricity Generating PCL (EGCO): Thai independent power producer with diversified fossil-fuel and renewable generation assets across Thailand and Southeast Asia. Comparable as a regional IPP with foreign-invested power projects.
• Gulf Energy Development: Thailand's largest private power producer with gas-fired and renewable generation; expanding into Vietnam and other Southeast Asian markets. Comparable as a regional IPP with overseas expansion strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about aes mong duong power