Which heating is better electric or gas

Khanh Hoa province, on the south-central coast, has recently been leading the way in attaining attraction from both domestic and foreign financiers when it comes to the gas and electricity sector. Among the suitors is one from the United States, proposing the Millennium gas power project with a forecast capacity of 14,400MW and 17 million tonnes of storage for liquefied natural gas (LNG) per year. Joining in are Embark United Co., Ltd. and US Quantum Corporation to establish a 6,000MW gas power venture and a port warehouse to receive and process six million tonnes of LNG per year. Japanese investors did also not ignore the opportunity to develop gas power projects in Khanh Hoa, as Sumitomo Corporation proposed to invest in a 3,000MW gas power scheme and a storage system for three million tonnes of LNG per year, while J-Power Co., Ltd. wants to invest in a gas turbine power project with a capacity of 3,000MW. Despite a slightly slower approach, the province is also seeing the presence of more domestic investors, led by Electricity of Vietnam which proposed a 6,000MW gas power project, while Petrolimex wants to build a warehouse for around three million tonnes of LNG per year. Those involved in the gas power sector all understand that developing such a project in Vietnam is a difficult task, as the country is still in the process of building its Power Development Plan 8 (PDP8). Nevertheless, the total installed capacity of power sources by 2030 is supposed to reach 137.2GW, of which gas accounts for 21 per cent. Tran Ky Phuc, director of the Institute of Energy under the Ministry of Industry and Trade (MoIT) – the unit in charge of building the PDP8 – said that electricity demand in this plan is calculated lower than in the revised PDP7, reducing the forecast amount by 3-4 billion kWh in 2020 and 9-10 billion kWh in 2030. Realistic needs The development of gas power sources in Vietnam is the result of the exhaustion of fossil fuels, the …

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The proportion of solar and wind power projects in the entire national electricity system is expected to increase, requiring thorough preparation because of the instability of these power sources, experts have said. The draft of the eighth national power development plan shows majir changes in power source development from now to 2030 compared with the seventh plan. Under the draft, Vietnam will develop wind and solar power on a large scale, with the capacity of wind power increasing by three times and solar power by two times compared with the adjusted seventh plan. Vietnam will only continue the projects under construction or under investment promotion, to be operational in the 2021-2025 period. The coal-fired thermopower proportion will decrease gradually from 34 percent in 2020 to 27 percent by 2030. The Ministry of Investment and Trade wants to strongly develop gas-fired power with capacity increasing from 7GW in 2020 to 13.5GW by 2025 and 28-33GW by 2030 and the proportion of gas-fired power increasing from 15 percent in 2020 to 21-23 percent by 2030. The wind power capacity would rise from 600MW in 2020 to 11,000-12,000MW by 2025 and 18,000-19,000MW by 2030. Wind power would account for 11 percent of total installation capacity by 2025 and 13 percent by 2030. As for solar power, the capacity would increase from 17,000MW in 2020-2025 to 19,000-20,000MW by 2030. The proportion of solar power would be 17 percent of total installation capacity by 2025 and 14 percent by 2030. Wind and solar power would also be strongly developed in 2031-2045, accounting for 42 percent by 2045. However, because of the high uncertainty, the strong development of these power sources will have a major impact on the national electricity system. The ministry believes that as the electricity generation capacity of the sources of power can change rapidly, wind power will cause considerable fluctuations to the electricity system when the wind changes or stops. …

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The long process of project approval from competent government agencies and the serious impact of COVID-19 have helped mergers and acquisitions in real estate sector become more active. A recent report released by VNDirect Securities Corporation stated that mergers and acquisitions (M&A) deals, especially in transferring part of large-scale real estate projects, were considered one of the fastest solutions for foreign developers when they want to jump into the Vietnamese real estate market, as well as for the domestic developers expanding their land fund and investment portfolios. This report also cited that some projects from giant developers are currently in the negotiation process with most expected to be completed this year. “Thanks to the improvement of the legal system in the Law on Investment, a range of deals will be done within this year with total value up to more than $1 billion,” the report cited. According to Tran Khanh Hien, deputy director of the Research at VNDirect, the real estate market in 2021 will be step-by-step resumed at its active level, based on the economic recovery, rising housing demand, and increased supply due to a range of projects that will be permitted to continue after long delays to review procedures. The Gem Riverside, funded by domestic developers Dat Xanh Group, and the Eco-smart city at Thu Thiem from South Korea’s Lotte Group, are among those looking to be kicked forward. Developers cited that M&A deals in real estate are a motivation for developers to be resumed after a long time of being impacted by the ongoing pandemic. Nguyen Thai Phien, senior financial director at Novaland Group, said that the corporation is based on M&A deals in order to develop its land fund and business for long-term development. Novaland started collecting land in 2005 via M&As and currently boasts more than 700 hectares in the east of Ho Chi Minh City, 700ha in Dong Nai province, and more than 2,000ha in Phan Thiet …

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