South Korea’s SK Innovation plans to develop a 1,500 MW LNG-fired power plant in Vietnam, partly to electrify a AI data center, highlighting the growing link between energy infrastructure and digital development.
The Investment Registration Certificate for the project was granted to the investors at the Vietnam–Korea Economic Forum on Thursday, held during the state visit of South Korean President Lee Jae Myung to Vietnam.
The project, known as the Quynh Lap LNG Thermal Power Plant, has a total investment of VND59,372 billion ($2.3 billion) and is being developed in partnership with two Vietnamese partners, namely Vietnam Oil and Gas Power Corporation and Nghe An Sugar Company Limited.
The Quynh Lap project includes a 1,500 MW power plant, an LNG storage facility with a capacity of about 250,000 cubic meters, a regasification system, a port, and other supporting infrastructure. The project covers 152.88 hectares and is expected to be completed by 2030.
The power plant is intended to help ensure a stable electricity supply for both the national grid and energy-intensive projects such as data centers. The associated AI data center initiative will involve further study of feasibility, infrastructure development, and market demand, alongside coordination on energy supply and investment frameworks.
Besides, the authorities in Nghe An province signed a memorandum of understanding with SK Innovation and SK Telecom, both under South Korean chaebol SK Group, to cooperate on developing an AI data center and related infrastructure.
The projects are part of broader cooperation between Vietnam and South Korea in strategic sectors including energy, digital infrastructure, and artificial intelligence, as both countries seek to strengthen economic ties and develop next-generation industries.