A history of accelerating the future of energy, together
From its founding and to today, AES has led lasting positive change in the energy sector based on its stakeholders’ most critical needs.
A journey to a Sustainable Energy Future in Vietnam
2008
- The Vietnamese government granted an investment license to AES-VCM Mong Duong Power Company — a joint venture of U.S. company AES, Korea's POSCO, and China Investment Corporation — to build the 1,240-MW Mong Duong 2 BOT Power Plant.
2011
- Construction started after successful financing arranged for the Mong Duong 2 Power Plant, with the total investment of approximately $2.1 billion
2015
- COD of Mong Duong 2 Power Plant
2017
- AES signed an MOU with PV Gas to develop the $1.4 billion Son My LNG Terminal Project
2019
- Completion of refinancing project for Mong Duong 2 Power Plant, which led to the first international project bond issuance for Vietnam.
- AES signed an MOU with the Ministry of Industry and Trade to develop a $1.8 billion 2.2GW CCGT Power Plant under the BOT scheme in Binh Thuan Province.
2020
- New company name “AES Mong Duong” introduced in April 2020
- AES Vietnam and PV GAS Ink Term Sheet of the Joint Venture Agreement for Son My LNG Terminal in November 2020. Together, the CCGT and terminal are expected to play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG and meeting the country’s increasing demand for sustainable and affordable electricity.
2021
- AES Corporation and PV Gas have signed a joint venture agreement for the Son My LNG terminal.
2022
- Son My LNG Terminal Co., Ltd was granted a business registration certificate by Binh Thuan province.
- Approval of Environment Impact Assessment of Son My 2 CCGT.
2023
- AES Vietnam received the investment policy decision for Son My II combined cycle gas turbine (CCGT) project.