Documents for negotiating the power purchase agreement between the power seller and the power buyer in Vietnam

Documents for negotiating the power purchase agreement between the power seller and the power buyer in Vietnam

Documents for negotiation of power purchase agreement between the power seller and power buyer are as follows:

- Documents for negotiating power purchase agreements for new power plants include:

+ Draft of the power purchase agreement according to the main contents stipulated in Appendix III issued with Circular 12/2025/TT-BCT;

+ Approval of investment policy or decision on investment policy or investment registration certificate of the project;

+ Decision for construction investment accompanied by explanations and appraisal reports on the project's investment by independent consultants, and the accompanying documents;

+ Decision on approval of the initial total investment capital or adjusted total investment capital of the project valid at the time of negotiating generation service charges and the main contents in the basic design of the investment project related to the negotiation of the power purchase agreement, basic design appraisal reports, and the notification of the appraisal results of the basic design, investment capital appraisal by the state administration on construction as prescribed (if any);

+ Agreement on connecting the power plant to the national power system accompanied by the power plant connection plan;

+ Loan agreement or documents, materials between the investor and lenders, the plan or actual disbursement of loan sources;

+ Fuel supply contract for the power plant, clearly stating the fuel price for electricity generation, fuel transportation price, LNG storage price, regasification and gas distribution fees, and any attached surcharges, fuel delivery point, and fuel supply period;

+ Documents calculating transformer, and transmission line power and energy losses from the step-up transformer to the connection point with the national power system and documents calculating the internal power usage in the power plant;

+ Documents calculating the net heat rate for thermal power plants;

+ Power selling price plan determined according to the method specified in Section 1 and Section 3, Chapter II, Circular 12/2025/TT-BCT;

+ Other related documents (if any).

- Documents for negotiating power purchase agreements for commercially operated power plants include:

+ Draft of the power purchase agreement according to the main contents stipulated in Appendix III issued with Circular 12/2025/TT-BCT;

+ Existing power purchase agreement;

+ Technical documents of the plant, SCADA/EMS system technical data, relay protection and automation system, P-Q operational characteristics of power units up to the present time;

+ Fuel supply contract for the power plant;

+ Power selling price plan of the plant determined according to regulations in Chapter II, Circular 12/2025/TT-BCT;

+ Financial reports or relevant documents of the power plant for recent years up to the time of negotiating the power purchase agreement;

+ Other related documents (if any).

More details can be found in Circular 12/2025/TT-BCT effective from February 1, 2025.

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