The workshop in Hanoi on May 24 updates participants on the implementation of the project on promoting the investment market for energy efficiency in the industrial sector (Photo: VNA)

Hanoi (VNA) – More than 100 energy saving solutions have been proposed under a project funded by the Government of the Republic of Korea to promote the investment market for energy efficiency in Vietnam’s industrial sector.

After surveying energy-saving technologies at more than 2,400 businesses, the project selected 10 firms to conduct energy audits. They operate in different fields, including the production of paper, animal food, steel, cement, chemical, and garment-textiles, as well as oil refining, according to the Department of Energy Efficiency and Sustainable Development under the Ministry of Industry and Trade.

Through these audits, 108 energy-saving solutions have been proposed. By carrying out these solutions, businesses can save about 78,000 USD in energy costs, or 4.8 percent of their total energy consumption, and reduce 606,000 tonnes of CO2 each year. 

With nearly 200,000 USD needed to be spent on these solutions, the payback period is 2.6 years, the department said.

At a workshop in Hanoi on May 24, the department’s deputy director Trinh Quoc Vu noted the national energy efficiency programme for 2019-2030 (VNEEP3) was approved by Prime Minister Nguyen Xuan Phuc last March, and the project on promoting the investment market for energy efficiency in the industrial sector is a contribution to this programme’s implementation.

This project will build the capacity of developing energy efficiency investment projects in the industrial sector, specify such projects, and support project implementation. 

It targets energy conservation centres, energy service companies, staff of state agencies relevant to the management of energy conservation, and big energy consuming businesses. 

The project is being carried out by the Department of Energy Efficiency and Sustainable Development and the Korea Energy Agency.–VNA 

VNA