TTC Phong Dien solar power plant invested by GEC. — Photo geccom.vn JERA Inc., a power generation company of Japan, has signed a deal to buy a 35.1 per cent stake at Viet Nam’s Gia Lai Electricity Joint Stock Company (GEC) to tap the Southeast Asian nation's growing demand for electricity and further its own decarbonisation efforts, Nikkei Asia reported. JERA, a joint venture between Tokyo Electric Power and Chubu Electric Power, will invest 15 billion JPY (US$112 million) in the Vietnamese renewable energy company. The purchase comes as JERA aims to increase its renewables generation capacity to 5,000 MW by 2025. The stake in GEC will add 190 MW, bringing the company's total renewables capacity to 1,900 MW. JERA will also consider jointly developing solar and onshore wind projects with GEC. JERA has already participated in renewable energy projects across Asia, including India and Thailand. It has operated a gas-fired power plant in Viet Nam since 2005. GEC owns hydro, … [Read more...] about Japanese firm buys 35.1 per cent stake in Viet Nam’s power company
Power generation
Viet Nam needs extra $368 billion to achieve net zero emissions
Workers checking a roof top solar system. — VNA/VNS Photo As the energy industry has a crucial role in achieving net zero emissions by 2050, it requires a structural transition toward green growth. Therefore, Việt Nam needs assistance from developed countries regarding both financial and technical issues. To detail the national green growth strategy, the Prime Minister on July 22 approved the national action plan on green growth for 2021-2030 with four important goals. The goals are to reduce greenhouse gas emissions per GDP, to green economic sectors, to green lifestyles and promote sustainable consumption, and to green the transition on the principles of equality, inclusion, and resilience. Speaking at the conference on the impact of COP26 on the energy transition towards green growth launched on Wednesday, Nguyễn Thị Bích Ngọc, deputy minister of the Ministry of Planning and Investment, said that resources are the biggest problem in realising the goals of the energy … [Read more...] about Viet Nam needs extra $368 billion to achieve net zero emissions
Overseas Vietnamese strengthen Danang’s investment climate
On August 12, the Danang People's Committee in collaboration with State Committee for Overseas Vietnamese Affairs (SCOV) held a seminar in Ho Chi Minh City to introduce Danang’s investment climate. The event attracted overseas Vietnamese to participate online from 19 countries and territories including the United States, Canada, Japan, South Korea, China, Taiwan, Australia, Germany, Russia, Poland, Slovakia, England, France, Italy, Belgium, Switzerland, Hungary, Thailand, and Mongolia. The event also saw the participation of 100 enterprises run by Vietnamese abroad. At the seminar, Do Thi Quynh Tram, deputy director of the Investment Promotion and Support Department shared a report about Danang’s strategies for development and called for investment in the city. The report covers preferential policies as well as projects calling for investment in the fields of high-tech industry, IT, supporting industries, and industrial park infrastructure construction. She also … [Read more...] about Overseas Vietnamese strengthen Danang’s investment climate
