MANILA -- The Philippines' Bataan Nuclear Power Plant (BNPP) has not produced any electricity since it was finished in 1984, despite its $2.3 billion price tag and its promise of energy security during the 1970s oil crisis. Approved by former dictator Ferdinand Marcos Sr., his son and new President Ferdinand Marcos Jr. has revived discussions on proposals to rehabilitate the site amid the current energy crisis that has pushed prices for traditional power generating fuels coal and natural gas to records. The BNPP's potential revival is one sign of the renewed interest in nuclear power. Governments across Europe and Asia are extending their aging fleet of nuclear plants, restarting reactors and dusting off plans to resume projects shelved after the 2011 nuclear crisis in Fukushima, Japan. Both the administration of U.S. President Joe Biden and the International Energy Agency have said nuclear power is critical for countries to meet global net-zero carbon emissions goals and … [Read more...] about Analysis: Global energy crisis drives rethink of nuclear power projects
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The Ministry of Industry and Trade has suggested the Government remove coal-fired plants with a capacity of 14,120 megawatts from Power Development Plan VIII (for 2021-30), which is currently being drafted. Illustrative image (Source: VNA) The move aims to achieve the target of net zero emissions by 2050, the ministry explained, adding that the plants were included in Power Development Plan VII (for 2011-20). Out of the 14,120 MW, 8,420 MW are from coal plants where State-owned enterprises have been assigned as the main investors, including Electricity of Vietnam (EVN), the Vietnam Oil and Gas Group (PVN) and the Vietnam Coal and Mineral Industries Group. The ministry also wants to reduce the ratio of coal-fired power sources from 25.7-31% in 2030 to around 10% in 2045. It plans to increase output from LNG-fueled and renewable plants to offset the cut in coal use, with about 14,000 MW of LNG during the 2030-2045 period, and 11,700-13,921 MW of … [Read more...] about Ministry proposes removing coal plants from energy plan
Ilustrative image (Photo: Malakoff Cooperation) Kuala Lumpur (VNA) - The Malaysian government will stop building coal power plants starting in 2040, and shift its focus toward clean and renewable energy , according to Minister in the Prime Minister’s department in charge of economy Mustapa Mohamed. Speaking at a question and answer session of the Malaysian Parliament’s second meeting, Mustapa said the ongoing global energy crisis will accelerate the transition to cleaner energy, adding that Malaysia will improve its renewable energy capacity to fulfill the set targets. A number of renewable energy sources identified for development include hydroelectricity, solar energy, biogas and biomass, he said, noting that battery energy storage technology will also be introduced to ensure quality and guaranteed power supply. The government will also expand the use of hydrogen, and develop technology related to carbon capture and storage, he went on. According to Mustapa, … [Read more...] about Malaysia to stop building coal plants from 2040
Seizing the opportunity laid out by its clean energy resources and phasing out coal could be key for Vietnam’s green growth path. Vietnam’s Prime Minister Pham Minh Chinh has set a deadline for sectors to build plans for their sustainable development within the first quarter (Q1) of this year as part of efforts to materialize the country’s sustainable development. Vietnam’s Prime Minister Pham Minh Chinh speaks at COP26 in Glasgow, the UK in November 2021. Photo: VNA The PM demanded in Q2 a comprehensive program to implement Vietnam’s net-zero target that he pledged at the 2021 United Nations Climate Change Conference in Glasgow (COP26) in November 2021. Accordingly, authorized agencies are tasked with eight issues, namely energy transition, reducing greenhouse gas emissions; lowering methane emissions; developing electric cars; planting forests to absorb carbon dioxide; building construction materials and urban development suitable for green and sustainable … [Read more...] about [Net-zero strategy] Which way is possible for Vietnam’s net zero journey?
Illustrative image (Source: VNA) Sydney (VNA) – Vietnam and Australia have displayed their resolve and efforts to ease the impacts of climate change, and have potential for cooperation in this field, an expert has said. Dr. Do Nam Thang, an expert in environment and climate change at the Australian National University, noted that the two countries share the goal of net zero emissions by 2050. They also have great potential in solar and wind energy, especially offshore wind, he said, adding that Australia led worldwide in terms of solar power per capita with 1,129 kwh per person in 2021, while Vietnam took the lead in Southeast Asia with 218 kwh. The expert emphasised a joint statement on commitment to practical climate action signed by Prime Minister Pham Minh Chinh and his Australia n counterpart Scott Morrison last November. During her visit to Vietnam last June, Australian Foreign Minister Penny Wong also laid stress on the transition towards cleaner and more … [Read more...] about Vietnam, Australia share resolve in climate change response: expert
Syngenta specialises in providing agro-pharmaceutical products, plant protection solutions and seeds, and is trusted by millions of farmers. — Photo coutersy of Syngenta Syngenta Vietnam, a leading science-based agri-tech company, has just joined HSBC Vietnam's green journey by placing their very first green deposit with the bank. This transaction will enable Syngenta Vietnam’s surplus money to be invested in sustainable and green projects and businesses, in line with the company’s global sustainability development strategy. HSBC’s green deposit programme, the first of its kind in Viet Nam, is a channel to mobilise green funds from the bank’s corporate customers, investing them in environmentally friendly projects and initiatives, while ensuring a stable and predictable return. Green deposits are used for the green financing, which is aligned with the HSBC Green Bond Framework and Green Loan Principles, under eligible green project themes (Renewable Energy, Energy Efficiency, … [Read more...] about Syngenta Vietnam joins HSBC’s green capital mobilisation