President Trump and OPIC President and CEO Present Virginia-based AES Co. Letter of Intent for Energy Project in Vietnam
November 12, 2017
(OPIC)
Hanoi, Vietnam - Alongside President Donald J. Trump and Vietnamese President
Tran Dai Quang, Overseas Private Investment Corporation (OPIC) President and
Chief Executive Officer Ray W. Washburne presented today a letter of intent to
Virginia-based energy company AES. The letter supports the construction of a
liquefied natural gas (LNG) terminal plant and 2,250MW combined cycle power
plant in Vietnam which would provide around 5 percent of the country’s power
generation capacity and support its continued economic development. The
presentation took place at the Presidential Palace in Hanoi.
"This project is in line with OPIC's initiative to promote the expansion of LNG
markets in the Indo-Pacific region,” said Washburne. "We are excited about the
opportunity to support AES and look forward to facilitating critical investment
into Vietnam's energy infrastructure and supply,” added Washburne.
“With this project, AES plans to leverage from our experience and replicate
the success of our LNG businesses in Central America and the Caribbean,” said
President of AES' Eurasia Strategic Business Unit Mark Green. “AES has been
partnering with OPIC on various state-of-the-art power generation projects
around the world and is grateful for the agency’s expertise and support with
this new project in Vietnam,” Green added.
The project will help bring sustainable and cost-effective energy to Vietnam,
while at the same time satisfying a growing demand for electricity and need for
natural gas in Asia. Creating sustainable energy solutions, including renewables
and natural gas, contribute to economic and social development. Integration of
multiple sources of energy will help ensure reliability of energy supply as the
country continues to grow.
OPIC President and Chief Executive Officer Ray W. Washburne is traveling
throughout Asia, including Japan and Vietnam, in conjunction with President
Trump’s visit to the region.
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