Aes vietnam energy

Prime Minister Pham Minh Chinh has approved the long-delayed Power Development Plan VIII (PDP8), which will guide national energy policy for the rest of this decade and beyond. The plan awaits formal authorisation from the National Assembly, which is expected to meet from May 22. The first PDP8 submission was made in March 2021 and more than 10 draft versions were published. “We’ve all been waiting for PDP8 approval for several years now, so this is excellent news,” said John Rockhold, chairman of the American Chamber of Commerce in Vietnam (AmCham). “I appreciate that the government has taken enough time to research and refer to a realistic PDP8. This is in line with the government’s concerted efforts to accelerate the green energy transition towards its commitments to achieve net-zero carbon emissions by 2050.” Meanwhile, Bui Vinh Thang, country manager in Vietnam at the Global Wind Energy Council, told VIR, “With this approval, the Vietnamese government and the industry can … [Read more...] about All systems go for energy security

Visitors at the Electricity, Industrial Machinery and Automation; Water Vietnam; and Energy Vietnam expos that opened in Binh Duong New City on Wednesday. — Photo courtesy of Kapa Corp Three international exhibitions, Electricity, Industrial Machinery and Automation; Water Vietnam; and Energy Vietnam opened at the World Trade Center Binh Duong New City on Wednesday. They have attract 200 enterprises from Viet Nam, France, Germany, Spain, Turkey, the US, China, Taiwan (China), the Republic of Korea, Japan, and China. Speaking at the opening ceremony, Phan Thi Khanh Duyen, deputy director of the province Department of Industry and Trade, said the event is a platform for local enterprises to enhance B2B activities and link up with foreign counterparts. On show at more than 250 booths are advanced equipment, technologies and products. A series of conferences and B2B events are scheduled on the sidelines of the three-day expos. The events are meant to help enterprises get the … [Read more...] about Bình Duong hosts electricity, industrial machinery, water, energy expos

A document issued by the Da Nang People’s Committee on Monday said higher temperatures have driven up energy demand in the central Vietnam beach town. The uptick caused energy production in late April and early May to be at 9.3 million kWh a day on average, while maximum production has been over 10.6 million kWh, a 17.5% increase from the same period in 2022, the committee said as cited by Government News . To ensure a safe energy supply, the committee has ordered local authorities to ensure that unused electrical devices are turned off and that air conditioners are only on when needed. The order also states that units should be set at no less than 26 degrees Celsius, among other recommendations. All lighting used for decoration and advertisements by local residents must be turned off every day starting 8 p.m., according to the order. Restaurants, hotels, malls, office and apartment complexes must also reduce energy consumption for outdoor advertisements and decorative … [Read more...] about Da Nang wants summertime energy saved after dark

What is your impression of Vietnam’s young but energy-hungry market, and what are its most critical issues? With over 30 years of operation in Vietnam, GE has made significant contributions to the country's development. Vietnam holds strategic importance as a market, and we are proud to witness its progress. A key challenge lies in ensuring dispatchable energy, the ability to generate and deliver energy as needed. GE's energy consulting services play a vital role in addressing this challenge by optimising the dispatchability of energy resources. Working closely with grid operators, these services identify effective strategies for energy dispatch, including integrating renewable sources, optimising network planning, and ensuring a reliable electricity supply. Furthermore, energy financial services can facilitate financing and investments that enhance grid dispatchability. By strategically supporting projects that contribute to a more reliable and flexible energy system, these … [Read more...] about Empowering Vietnam’s energy transition

Vietnam's Prime Minister Pham Minh Chinh has just unveiled plans to embark on a groundbreaking initiative that involves piloting and advancing the development of a direct power purchase agreement (DPPA) framework between renewable energy producers and consumers in Vietnam. During a meeting held on May 19 with Fujimoto Masayoshi, CEO of Sojitz Corporation, on the sidelines of the expanded G7 Summit in Japan, discussions revolved around the potential for expanding investments in Vietnam's industrial parks and renewable energy sectors. Masayoshi emphasised Sojitz's keen interest in exploring opportunities for broader investments in these domains. A growing number of prominent Japanese businesses are actively considering expanding their production capacities in Vietnam or relocating their manufacturing operations to the country. Masayoshi proposed that Vietnam should expedite the implementation of a DPPA mechanism, enabling industrial plants to actively participate it. Such a move … [Read more...] about Vietnam to explore direct power purchase agreements in renewable sector

A raft of top brands were represented at last week’s investment conference At last week’s conference “Strong Investment Partnerships for a Thriving Vietnam” hosted by VIR, representatives of many foreign-invested enterprises (FIEs) discussed their concerns and gave recommendations for Vietnam to foster new investment inflows amid global complicated developments. Choi Joo Ho, CEO of Samsung Vietnam, said that Vietnam’s competitiveness to allure foreign investment is threatened because of different factors. “The global minimum tax regime is a prime example of the most significant external environmental changes,” he said. “If Vietnam also applies these policies, it could eliminate the instability in the business activities of affected FIEs. Samsung expects the Vietnamese government to continue creating a predictable business environment that is in line with global standards and the recent change in investment climate.” Similarly, Trang Le, head of Research and Consulting at … [Read more...] about Vietnam takes on pressures of foreign capital attraction

BII, a development finance institution of the U.K. government that works under the Department for International Development, has committed to the SUSI Asia Energy Transition Fund (SAETF) managed by Swiss-based SUSI Partners. The investment marks the start of BII’s ambitions to invest up to £500 million ($622.3 million) in climate finance in the Southeast Asia region and forms part of its overall goal to target 30% of total new commitments to climate finance, the U.K. embassy said in a statement Monday. SAETF targets infrastructure investments across the energy transition spectrum, including renewable energy, energy efficiency, and energy storage projects, and focuses on emerging economies in Southeast Asia, including Indonesia, Vietnam, and the Philippines. The fund will contribute to global climate mitigation goals and the Paris Agreement by financing clean energy solutions, increasing the supply of reliable and affordable electricity for businesses and consumers, and enabling … [Read more...] about UK finance institution pledges $15M for energy transition in Southeast Asia

Adani’s investment in Vietnam is expected to initiate Indian capital flows into the Southeast Asian country amid growing ties between the two nations. Karan Adani, CEO of India’s Adani Ports and SEZ Limited (APSEZ), has shared that the group expected to build a green seaport ecosystem and renewable energy costing roughly US$3 billion in Vietnam. Vietnam’s Prime Minister Pham Minh Chinh (R) and Karan Adani, CEO of India’s Adani Ports and SEZ Limited (APSEZ) in Hanoi on May 24. Photo: VGP The executive expressed the plan at a meeting with Vietnam’s Prime Minister Pham Minh Chinh in Hanoi today [May 24], fueling the hope for more Indian investments in Vietnam amid hundreds of projects. The investment portfolio will include a seaport, wind power, and solar power plants, said the CEO of India's leading economic group, which comprises seven publicly traded companies working in more than 50 countries worldwide. Karan Adani said Adani has been interested in … [Read more...] about India Adani eyes US$3 billion seaport project in Vietnam

Stay up to date with the latest events in Vietnam. UK financial institution invests $15 million in Southeast Asia's energy transition A wind power farm in Ninh Thuan Province. Photo: Khac Kien/The Hanoi Times On May 22, British International Investment (BII) pledged US$15 million to the SUSI Asia Energy Transition Fund (SAETF), managed by Swiss-based SUSI Partners, marking the beginning of its plan to invest up to US$622.3 million in climate finance for Southeast Asia. SAETF targets renewable energy , energy efficiency, and energy storage projects in emerging economies in Southeast Asia, including Indonesia, Vietnam, and the Philippines. The investment aims to support sustainable economic growth in the region and attract other commercial investors to channel climate finance opportunities. Vietnamese students win awards at international science fair Two projects by Vietnamese high school students won awards at the Regeneron 2023 International … [Read more...] about Vietnam News Highlights for May 23, 2023

Driven by an ardent pursuit of progress, Vietnam warmly welcomes partnerships with esteemed allies such as India, recognising the invaluable role of infrastructure development. PM Chinh expressed great enthusiasm for Indian investments in Vietnam's strategic infrastructure domains, encompassing transportation networks, energy facilities, digital infrastructure, and climate resilience. Adani lavished praise on Vietnam's far-sighted national development strategies. With a formidable presence across more than 50 countries, the Adani Group stands as India's preeminent conglomerate, renowned for its exemplary operations in port management, logistics, energy, and digital technologies. He also noted that the Adani Group expressed their keen interest and commitment to investing long-term in Vietnam after thorough research and an evaluation of the opportunities. The total investment is estimated to be around $10 billion, spanning not only the fields of ports and logistics but also energy … [Read more...] about Indian conglomerate Adani Group commits $10 billion to propel expansion in Vietnam