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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