Rooftop solar energy

A solar farm of 400GWh in An Giang province. (Photo: VNA) Hanoi (VNS/VNA) - The Ministry of Industry and Trade has recently introduced new ceiling prices for solar and wind energy in Vietnam. On October 3, 2022, the ministry released Circular 15, which sets out a framework for Vietnam Electricity (EVN) to enter into tariff negotiation s with developers of transitional solar and wind energy projects by reference to some specific ceiling price s. On January 7, 2023, the ministry set the ceiling prices at 1,184.90 VND (5.05 cents) per kWh for ground-mounted solar projects, 1,508.27 VND (6.43 cents) for floating solar projects, 1,587.12 VND (6.77 cents) for onshore wind projects, and 1,815.95 VND (7.75 cents) for offshore wind projects. EVN will now use these ceiling prices to negotiate tariffs with transitional projects, which are not subject to any tariff so far. At a seminar earlier this week, Deputy Chairman of the Vietnam Energy Association Nguyen Van Vy … [Read more...] about MoIT sets ceiling prices for solar and wind projects

A solar farm of 400GWh in An Giang Province. The ceiling price applicable to ground-mounted solar projects was set at 5.05 cents per kWh. — VNA/VNS Photo Thanh Sang The Ministry of Industry and Trade has recently introduced new ceiling prices for solar and wind energy in Viet Nam. On October 3, 2022, the ministry released Circular 15, which sets out a framework for the Viet Nam Electricity (EVN) to enter into tariff negotiations with developers of transitional solar and wind energy projects by reference to some specific ceiling prices. On January 7, 2023, the ministry set the ceiling prices at VND1,184.90 (5.05 cents) per kWh for ground-mounted solar projects, VND1,508.27 (6.43 cents) for floating solar projects, VND1,587.12 (6.77 cents) for onshore wind projects, and VND1,815.95 (7.75 cents) for offshore wind projects. EVN will now use these ceiling prices to negotiate tariffs with transitional projects, which are not subject to any tariff so far. At a seminar earlier this … [Read more...] about Ministry of Industry and Trade sets ceiling prices for solar and wind projects

This time of year is critical for the competitiveness of foreign-owned businesses in Vietnam. Last Tuesday, Hark-Kyu Park, president and CFO of Samsung Electronics, expressed the company’s expectation that the Vietnamese government would continue to support its development. He said that Vietnam is an essential partner and Samsung’s biggest manufacturing hub worldwide. Rising energy costs to require roadmap for businesses’ timely adjustment of strategies. Photo: Le Toan Do Nguyet Anh, chairman of the board at Northern Electric Equipment (NEE), said last month that Samsung in northern Vietnam “stopped several manufacturing lines” and “restricted satellite operations.” The longer-than-usual production halt resulted in a drop of 300 million kWh. Samsung is now one of NEE’s major clients in terms of power use. The steady recovery of domestic production is anticipated to result in a rise of 8-9 per cent in the industrial production index in 2023. Since Q4 of 2022, however, … [Read more...] about Rising energy costs to require roadmap for businesses’ timely adjustment of strategies

The global energy price issue is not resolved yet, but is Vietnam sluggish to alter its energy policy? Energy policy is crucial for all nations, but particularly for Vietnam given its ambitious aim of achieving net-zero emissions by 2050. However, under the proposed Power Development Plan VIII (PDP8), it is still planned to import 55 million metric tonnes of coal by 2025 and 95 million metric tonnes by 2030, despite the abundance of alternative power sources in the nation. The PDP8 is now awaiting approval, but policymakers still need to examine the most fundamental aspects, including adequate and steady power, investment efficiency, and ensuring energy security in relation to the environment and national defence. Responsive shift required in Vietnam’s energy policy. Photo: Le Toan What do you believe will occur when Vietnam retains a significant coal power supply through the PDP8? The PDP8 consists of four volumes and over 830 pages, although the solution … [Read more...] about Responsive shift required in Vietnam’s energy policy

Vi, who has almost 20 years of experience working in the field of finance and investment credit, discussed credit financing for renewable energy initiatives, including wind and solar, at the event. She said the spectrum of electricity investment in Vietnam could be divided into three categories: foreign investors, Vietnamese corporate entities that can arrange credit with domestic and foreign banks, and businesses that have not yet had the opportunity to arrange capital but wish to. During 2017–2019, international investors could obtain capital inflows at a cost of around 4–5 per cent, but Vietnamese firms had to obtain capital from local banks at a cost of 11–15 per cent of total capital expenses. Therefore, local investors were pressured to invest much more than their international counterparts. In addition, Vietnamese organisations and businesses continue to need assistance in gaining access to credit, owing to the fact that international banks do not lend to local businesses … [Read more...] about Misleading to assert foreign firms dominate Vietnam’s energy sphere: expert

Illustrative image (Source: thainews.prd.go.th) Bangkok (NNT/VNA) - The Ministry of Industry of Thailand has emphasized the importance of manufacturers seriously embracing renewable energy, highlighting higher electricity bills as a critical factor in bringing firms’ attention to this issue. The Office of Industrial Economics (OIE) stated that the industrial sector should consider shifting towards renewable energy in order to alleviate the financial burden caused by rising electricity bills. Using renewable energy such as biomass or solar power could be implemented alongside efficient management of electricity usage to lower costs. OIE Director-General Warawan Chitaroon said the government is aware that higher electricity prices will affect businesses, but the Energy Regulatory Commission can only slightly reduce a planned increase in the power tariff which is used to calculate electricity bills, from 20.5% to 13%. The increase in the power tariff, from 4.72 THB per … [Read more...] about Thai manufacturers urged to shift to renewable energy to reduce costs

Hoa Binh 5 Wind Farm in Bac Lieu Province. Project developers said the ceiling prices are insufficient for their farms to break even. — VNA/VNS Photo Many project developers are expressing concern that the ceiling prices for solar and wind energy set recently by the Ministry of Industry and Trade are not high enough to offset their costs. The representative of four wind farms in Gia Lai Province Tran Minh Tien remarked that the construction of the wind farms was completed a year ago but they have been idle due to the absence of official purchasing prices. "We have spent US$300 million to build our wind farms that have been lying dormant for one year. Meanwhile, interest payments and depreciated costs pile up day by day," said Tien. The introduction of the ceiling prices did not make the representative any happier because it is never easy to negotiate an agreement with Vietnam Electricity (EVN), under which the power corporation purchases electricity from the wind farms at … [Read more...] about Newly-announced ceiling prices insufficient to cover costs: project developers

Sembcorp has made significant progress by growing its industrial property portfolio. How can its achievements be assessed? Charles Chong, head of Sembcorp Development in Vietnam Since Sembcorp started Vietnam Singapore Industrial Park (VSIP) in 1996, we have diversified our industrial property portfolio. With VSIP, we pioneered the integrated township and industrial park concept. In 2022, Sembcorp launched a new smart and sustainable VSIP and obtained a licence for our 12th VSIP, to be developed in the Mekong Delta city of Can Tho. Sembcorp has also completed ready-built warehouses in Haiphong city and Hai Duong province, both in the north. We are working with Vietnam in its industrialisation and urbanisation journey. We are proud that our projects have brought us closer to the Vietnamese people by generating good employment opportunities, catalysing growth in provinces, establishing communities in new places, and taking care of the disadvantaged in our communities. … [Read more...] about Sembcorp’s consistent sustainability

Benjamin Kreuz, general manager of Six Senses Ninh Van Bay Resort. Photo: Six Senses Ninh Van Bay Resort A breakdown of all the plastics used in our hotels worldwide identified that 80 per cent came from only 18 categories such as plastic cups, straws, or little napkin wraps. Today we are proud to be 95 per cent free of the 18 most unwanted items and with almost all single-use plastics being phased out of resort operations. Sustainability is one of the most important pillars of our business. As a whole group, we are following detailed and ambitious Sustainability Operation Guidelines, ensuring that we are looking at the immediate area where our hotels are based and making contributions to the local society around us. One of our core values is to be locally sensitive whilst displaying global sensibility. Highlights of our sustainable operations are our drive for renewable energy and our plastic-free campaign. Solar energy provides roughly thirty per cent of the total … [Read more...] about Sustainability at Ninh Van Bay

In the long term, the garment, textiles, leather and footwear sectors are still key export industries of the economy. — VNA/VNS Photo Tran Viet Viet Nam's textile, garment and footwear sectors aim to achieve a total export value of US$77-80 billion in 2025 and $106-108 billion in 2030, according to the strategy for the development of Viet Nam's textile and footwear industry. Under the development strategy approved by the Government, for the long term, the garment, textile, leather and footwear sectors are still key export industries of the economy. Of which, the textile, garment, leather and footwear sectors continue to promote investment in the production of materials and auxiliary materials, as well as supporting industries. They will encourage the production of fabrics from domestically produced yarn to reduce imports, and form a complete supply and value chain in the region. For the leather and footwear industry, Nguyen Duc Thuan, chairman of Lefaso, said domestic … [Read more...] about Garment, footwear exports aim to reach $80b by 2025