Huge pressure According to the Vietnam Electricity (EVN), to meet surging demand for power during the 2016-2030 period, total installed capacity would have to increase by 6,000-7,000MW per year. However, power projects of independent power producers (IPP) included in the revised Power Development Plan VII are lagging behind schedule. A series of solar power plants will go into operation before the commercial operation date (COD) deadline of June 30, 2019. However, these plants are mainly concentrated in the central region, where solar power capacity fluctuates across the seasons of the year, resulting in high instability in the power system. Vietnam is also experiencing a decline in gas resources, while hydropower plants in the central region lack water due to the El Nino phenomenon. To ensure power supply, EVN is forced to run oil-fired thermal power plants, which incur high production costs. However, the company is also facing a lack of input fuel, with domestic coal resources … [Read more...] about Balancing surging power demand with limited supply
Concentrating solar thermal power
M&A makes up majority of foreign capital inflows Some US$6 billion out of US$7.63 billion in foreign investment capital pledged to HCMC last year came from capital contributions, share acquisitions and purchases of stakes from domestic businesses. HCMC vice chairman Le Thanh Liem said at a conference in Binh Duong Province on February 14 that the pledged investment capital from foreign investors for HCMC last year picked up by 15.59% against the previous year. Of these, there were 1,060 new projects, with total registered capital of US$811.68 million, and 244 projects with additional capital of over US$835 million. Last year also saw 3,283 cases in which foreign investors received approval to contribute capital, buy shares and contribute capital to domestic firms, with registered capital totalling US$5.99 billion. With these results, HCMC received around 60% of foreign capital. According to Liem, the 2014 investment law has provided a favorable legal corridor for foreign investors … [Read more...] about BUSINESS NEWS IN BRIEF 19/2
Opening a seminar at the 2019 Vietnam Economic Forum in Hanoi Thursday, Nguyen Van Binh, chairman of the Communist Party's Central Economic Commission, stressed the need for Vietnam to address the challenges brought about by climate change. "If we don't effectively respond to climate change, the achievements of our socio-economic development will be damaged and the process of sustainable development will encounter many difficulties." As a country with a long coastline and many large river basins, Vietnam is considered among the five countries most affected by climate change. The impacts of climate change would accelerate resource depletion and environmental degradation and slow down the country's socio-economic development, Binh said. While renewable energy is environmentally friendly, its sources are still unstable, potentially endangering energy security, while traditional energy sources such as coal help ensure energy security but contribute to the greenhouse effect, … [Read more...] about Vietnam’s dilemma: clean electricity or energy security?
Illustrative image (Photo: VNA) Binh Phuoc (VNA) – The Government has approved an additional six solar power projects with a combined capacity of 850 MWp in Binh Phuoc, raising the total solar energy capacity of the southern province to the highest in the country. According to Chairman of the provincial People’s Committee Nguyen Van Tram, the locality has finalised plans for solar energy development to 2030. The total area of land used for electricity projects is estimated to be up to 5,000-6,000ha, mostly concentrated in Loc Ninh district. Nguyen Anh Hoang, Director of the provincial Department of Industry and Trade, said the provincial People’s Committee has accepted the work of two investors in the field of solar power development. It is hoped that the projects will start to generate electricity to the national grid in June next year. However, experts said the cost of solar power projects is too expensive. They also said Binh Phuoc holds good solar energy … [Read more...] about Six more solar power projects licensed in Binh Phuoc
Japanese investors explore Ha Nam’s investment environment Ha Nam province will create favourable conditions to attract more Japanese businesses to invest in local projects, said Vice Chairman of the provincial People’s Committee Truong Quoc Huy. During his working session with a business delegation from Japan’s Nagahama city on November 5, Huy affirmed that Ha Nam always considers Japan an important partner in cooperation and investment attraction. Enterprises investing in Ha Nam will be supported in terms of electricity, water, worker recruitment and security, he said. The province has earmarked Dong Van III Industrial Park, which has a favourable location and well-built infrastructure, for Japanese investors, the official said. Huy told his guests that Ha Nam highly evaluated Japanese companies’ investment capacity and cooperation, adding that Japanese firms have always observed their investment commitments to the province, had good working environments and … [Read more...] about BUSINESS NEWS IN BRIEF 7/11