The Quỳnh Lập LNG Power Plant Project, located in Tân Mai Ward, Nghệ An Province, is developed by a joint venture consisting of Petrovietnam Power Corporation (PV Power), Nghệ An Sugar Company Limited (NASU), and SK Innovation (South Korea) as the investors. The total investment is approximately VND 59,372 billion (USD 2.2 billion).

The project is implemented on an area of approximately 60 hectares of land and 100 hectares of sea surface, featuring a 1,500 MW LNG-fired thermal power plant with two combined-cycle gas turbine units, along with a LNG storage and regasification system with a storage capacity of about 250,000 m³ and a dedicated jetty within the Đông Hồi Port – Nghệ An seaport complex.

The project officially began its technical infrastructure construction on 18 May 2026 and is expected to be completed and put into operation by around 2030.