The renewable energy sector and environmental projects continue to attract foreign capital investment, with many projects substantial in size and affirmed for implementation. Envision and Hitachi Zosen both see great potential in the Vietnamese renewable energy sector Envision affirms putting $660 million into wind power project Speaking with VIR, Ta An Quang, director of Envision Corporation’s projects in Vietnam, indicated that the company is planning to put $660 million into a wind power project in Vietnam. According to the plan, the project will be based in Soc Trang province. It will be built on an area of 9.2 hectares and have a capacity of 300MW. “Although Soc Trang has great potential to develop wind power projects, there has never been a project like this in operation,” said Quang. In addition, a representative of Envision declared that Soc Trang is not the only location in Vietnam with the potential for wind power—many other … [Read more...] about Envision and Hitachi Zosen enter Vietnamese renewable energy sector
Renewable energy contracts
Current power investors in Vietnam like CSG are resetting focus on renewable energy, photo Phuong Thu Malaysia’s Jaks Resources Bhd. and China Power Engineering Consulting Group Co., Ltd., that are building a 1,200 megawatt (MW), $1.87-billion coal-fired power plant in the northern province of Hai Duong, are seeking more power projects in other provinces in Vietnam, with a focus on the renewable energy segment. Renewable energy is still in its infancy in Vietnam, due to its high costs and weather conditions in certain areas that are not conducive to wind and solar power generation. “Aligning with our strategy, we will grow our power portfolio in Vietnam with a view to participating in the recent renewable energy drive in the country,” said Elaine Tai, general manager of Corporate Strategy at Jaks Resources. In a recent visit to the southern province of Binh Phuoc, Haris F. Abdullah, representative of Jaks Resources in Vietnam, said that the firm plans to invest in … [Read more...] about Power players eye renewable energy
VietNamNet Bridge - Considered a country with great potential for solar and wind power, Vietnam continues to be one of the 12 ‘hotspots’ in the globe for coal-fired power development. Vietnam has great potentials to develop clean energy The global coal-fired power plant monitoring system’s updates on March 22 showed that the indicators in thermal power capacity, including the planning, construction and completion phases, continued declining significantly in 2017. It is expected that by 2022, the number of old plants to be shut down would be higher than the number of plants to become operational. This will be the beginning of the period of coal-fired power development decline. In India, the renewable power price has decreased by 50 percent in the last two years because of higher capacity. Because of financing problems, there is no electricity sale contract for 16 GW of coal-fired power, while 17 GW has been frozen at construction sites. RELATED NEWS … [Read more...] about Renewable energy: which option for Vietnam?
Vietnam should develop renewable energy to lessen import dependenceLan Nhi HANOI – Vietnam officially turned from a net exporter of energy into an importer in 2015 with buying 3% of energy demand from outside sources, said Nguyen Van Vy from the Vietnam Energy Association. Speaking at a seminar on small hydropower project and renewable energy development in Hanoi yesterday, Vy said the imported energy as a percentage of domestic demand is forecast to increase to 24% or even 44% in 2030 if renewable energy projects are not developed. Deputy Minister of Industry and Trade Hoang Quoc Vuong noted that the potential of hydropower as a primary source of renewable energy has been nearly fully tapped. The sector targets to reach a total hydropower capacity of 21,600 MW by 2020, 24,600 MW by 2025 and 27,800 MW by 2030. However, most of rivers and streams have currently been exploited to build 824 hydropower plants with a combined capacity of 24,778 MW, meeting 95.3% of the … [Read more...] about Vietnam should develop renewable energy to lessen import dependence
(CPV) - ADB's headquarters in Manila is now meeting all of its energy needs from renewable sources, following a geothermal power supply agreement with AdventEnergy Inc., a licensed retail electricity supplier of Aboitiz Power. The headquarters is now powered by 100% renewable energy generated by geothermal plants in Tiwi in Albay province and Makiling-Banahaw in Laguna province, both of which are on the main Philippine island of Luzon, in addition to existing on-site solar power generation. "As an institution we are strongly committed to expanding the use of renewable energy across Asia and the Pacific, so it is only fitting that we walk the talk in our own headquarters," said ADB Vice President Bruce Davis at a ceremony in ADB headquarters. "This agreement will allow us to cut our annual corporate carbon footprint by nearly 50%, with an emission reduction of more than 9,500 tons of CO2 equivalent." The supply contract with AdventEnergy will see ADB purchase an average of 1.5 … [Read more...] about ADB headquarters switches to 100% renewable energy