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Linkou Power Plants in Taiwan employ Ultra Super Critical technology. (Photo: Taipower)
To adopt the increasing electricity demand, Southeast Asian countries have recently ramped up coal-fired power generation, raising industry concerns about violating government energy transition and decarbonization commitments. Recently, the Malaysian state-owned bank Export-Import Bank of Malaysia (EXIM Bank) announced a cross-sea investment in Vietnam's Song Hau 2 coal-fired power plant has received public notice.
This financing effort is led by EXIM Bank, with over 60% of the funds coming from ten Vietnamese banks, one of the banks is a major state-owned bank in Vietnam..
In response to criticism, the Vietnamese Ministry of Industry and Trade (MOIT) sent a letter on July 1 to the developer, Malaysia's Toyo Ink Group, terminating the development contract of the Song Hau 2 coal-fired power plant due to unresolved financial issues. This decision demonstrates uncertainty to the plant's development, and the subsequent treatment plan has not been declared yet.
