Texas power plants

A hydropower plant of Chaleun Sekong Group in Laos HAGL has released information to put 248 million shares in Hoang Anh Gia Lai Hydro Power JSC, equaling 99.4 per cent stake, on sale. This movement shows the withdrawal from ineffective business and investment sectors in order to focus on the agricultural sector. Previously, in its financial statement for the second quarter of this year, HAGL reported that Chaleun Sekong Group from Laos signed a contract to buy Nam Kong 2 and Nam Kong 3 hydropower plants owned by Hoang Anh Gia Lai Hydro Power for VND2.53 trillion ($110 million). So far, Chaleun Sekong completed the payment of VND2.25 trillion ($97.83 million). It is not the first time that HAGL divested a hydropower project. In mid-2016, the group sold six hydropower plants to Bitexco Group for VND2.1 trillion ($91.3 million). The move to withdraw from the two above plants marks the end of HAGL's journey in the hydropower sector. Besides, in order to mobilise investment capital for … [Read more...] about Chaleun Sekong Group acquires two hydro power plants of HAGL

Vietnam will likely face a power shortage during 2020-2030 if electricity generation is not increased and there is not enough fuel (coal and gas) for generation. It is forecast that the demand for electricity will continue to grow at a high level until 2030. The power sector will need to ensure 265-278 billion kWh of output by 2020 and around 572-632 billion kWh by 2030. The growth rate in the 2016-2020 period will be 10.3-11.3 per cent per year and about 8-8.5 per cent between 2021 and 2030. Insufficient power supply could lead to a heavier reliance on imported fuel, especially in power generation, while the higher demand would also place greater pressure on power infrastructure, which might not be improved quickly enough due to lack of funding. In addition to these challenges, Vietnam could face greater environmental impacts from an increased demand and a higher proportion of fossil fuels, especially coal in the energy mix. With the country’s energy demand projected to increase … [Read more...] about Solar rooftop panels ease thirst for power

The Vietnam Gas Association has asked the Government to cut red tape for gas trading. LNG consumption in Viet Nam is expected to grow at an average annual rate of 10 per cent over the next decade. — Photo tbck.vn The association’s deputy director Tran Trong Huu said 70 stipulations were way too many – adding many of the conditions are repeated. He was speaking during a workshop organised by the Ministry of Industry and Trade (MoIT)’s Department of Domestic Market and the Institute for Brand and Competitiveness Strategy (BCSI). Huu’s thoughts were echoed by BCSI Director Vo Tri Thanh who feels lawmakers must rethink current policies – particularly as the gas industry plays an important role in local development. He said: “It is a chance for policy makers to build policies towards the development of an efficient and sustainable gas industry in the future in order to bring into full play the potential of developing Viet Nam's gas … [Read more...] about Vietnam gas association urges Government to cut red tape

The program drew the participation of leaders of the Vietnam Oil and Gas Group (PVN) and PV Gas, such as Vu Anh Tuan, deputy chairman of PVN Trade Union; Vo Thi Thanh Ngoc, member of PV Gas’ Board of Directors; Nguyen Van Hung, chairman of PV Gas Trade Union; Nguyen Cong Luan, secretary of PV Gas Youth Union, chief accountant of PV Gas; as well as leaders of authorities and departments and staff. On the hospital side, there were Associate Professor Nguyen Lan Hieu, director of the Hanoi Medical University Hospital; and 40 doctors and nurses. On behalf of the local government, Truong Dang Khoa, secretary of the U Minh District Party Committee, and Nguyen Thanh Toan, deputy chairman of the U Minh District People’s Committee, attended the program. The Hanoi Medical University Hospital has made great contributions to the development of the country’s medicine. Patients have confidence in the hospital, reinforcing the pride and determination of doctors in medical … [Read more...] about PV Gas conducts medical examination and treatment in Ca Mau