Indonesia to include power wheeling in renewable energy bill

By Vietnam News Agency
Sat, July 6, 2024 | 3:00 pm GMT+7

Indonesia’s government will include power wheeling in its renewable energy bill, which will allow private companies to sell electricity directly to consumer through transmission owned by state-run electricity company PLN.

One of the efforts to develop new renewable energy is through the use of solar panels in Pertamina’s operational areas, as seen at the refinery in Cilacap, Central Java. Photo courtesy of Pertamina.

One of the efforts to develop new renewable energy is through the use of solar panels in Pertamina’s operational areas, as seen at the refinery in Cilacap, Central Java. Photo courtesy of Pertamina.

Director general of the Ministry of Energy and Mineral Resources' New Renewable Energy and Energy Conservation Eniya Listiani Dewi said on Thursday that the ministry was in the process of formulating the rules on pricing and terms and conditions of using PLN transmission to distribute renewable electricity.

The government removed articles on power wheeling from the bill in November 2022, but later revived the plan in the following year.

Current regulations require that electricity produced by independent power producers (IPPs) be sold to PLN for distribution under a state-run monopoly, including provisions that limit the economic feasibility of clean energy projects.

Businesses have called for this provision to be included in the bill, but some ministries in President Joko Widodo's administration still do not want to accept it.

The Ministry of Finance believes that this mechanism can cause electricity prices to fluctuate due to market impacts, thereby making people unable to pay. Others worry that PLN could suffer losses when electricity supply exceeds demand.

According to Minister of Energy and Minerals Arifin Tasrif, it will be difficult for Indonesia to achieve its renewable electricity goals if it only depends on a single supplier – PLN, he said, noting that the opening of this industry will encourage independent power producers to produce renewable energy, which can help accelerate the adoption of clean energy in Indonesia.

Comments (0)
  • Read More
Vietnam must not criminalize economic cases: PM

Vietnam must not criminalize economic cases: PM

The Vietnamese authorities must facilitate business activities, such as by not making criminal proceedings against economic-civil activities, Prime Minister Pham Minh Chinh said.

Economy - Fri, October 4, 2024 | 4:46 pm GMT+7

Swiss shipping line MSC eyes investment in central Vietnam port

Swiss shipping line MSC eyes investment in central Vietnam port

Switzerland-headquartered Mediterranean Shipping Company (MSC), among the world’s largest shipping lines, is looking to invest in Danang city’s Lien Chieu port, considered a major maritime gateway for Vietnam.

Infrastructure - Fri, October 4, 2024 | 4:40 pm GMT+7

Vietnam has strong fundamentals for developing offshore wind supply chain: report

Vietnam has strong fundamentals for developing offshore wind supply chain: report

Vietnam has strong fundamentals to localize key components of offshore wind projects, but certain areas need further investment, says an industry report, as the country is deemed to likely miss its development target set for 2030 for this renewable resource.

Energy - Fri, October 4, 2024 | 4:24 pm GMT+7

Vietnam partly drags down regional economic growth to 4.2% in 2024: AMRO researchers

Vietnam partly drags down regional economic growth to 4.2% in 2024: AMRO researchers

The Singapore-based ASEAN+3 Macroeconomic Research Office (AMRO) has cut its growth forecast for the ASEAN+3 region to 4.2% in 2024 from the 4.4% figure in July, primarily due to downward adjustments for China and Vietnam.

Economy - Fri, October 4, 2024 | 1:49 pm GMT+7

Thailand eyes to become cashless society by 2028

Thailand eyes to become cashless society by 2028

Thailand is expected to transition to a cashless society faster than other countries in the Southeast Asian region, driven by the country's rapid digital adoption and transformation, according to a survey by global digital payments provider Visa.

Southeast Asia - Fri, October 4, 2024 | 11:38 am GMT+7

Registered FDI in Vietnam hits record of $4.26 bln in Sep, $24.8 bln in Jan-Sep

Registered FDI in Vietnam hits record of $4.26 bln in Sep, $24.8 bln in Jan-Sep

Registered foreign direct investment (FDI) in Vietnam totaled $24.78 billion in the first nine months of this year, up 11.6% year-on-year, according to the Ministry of Planning and Investment.

Economy - Fri, October 4, 2024 | 10:57 am GMT+7

Top Irish firms keen on high-tech, energy, agri investments in Vietnam

Top Irish firms keen on high-tech, energy, agri investments in Vietnam

The top leaders of 15 major Irish companies have shown their interest in investing in Vietnam, particularly high-tech, agriculture, industry-energy, and health care.

Economy - Fri, October 4, 2024 | 9:53 am GMT+7

Deo Ca-led consortium wins $44.4 mln bidding package for northern Vietnam expressway

Deo Ca-led consortium wins $44.4 mln bidding package for northern Vietnam expressway

A consortium led by “tunnel king” Deo Ca Group has won a VND1.1 trillion ($44.4 million) bidding package to construct the Hoa Binh-Moc Chau expressway linking the two northwestern provinces of Hoa Binh and Son La.

Infrastructure - Fri, October 4, 2024 | 9:21 am GMT+7

Buyers of Keppel project in HCMC closely linked to private Vietnamese conglomerate

Buyers of Keppel project in HCMC closely linked to private Vietnamese conglomerate

Two companies set to purchase a 70% stake in Saigon Sports City Limited (SSCL), operator of Singapore-based Keppel’s 64-hectare real estate project in Ho Chi Minh City’s District 2, are closely linked to a major multi-sector group in Vietnam.

Finance - Fri, October 4, 2024 | 7:45 am GMT+7

Castlelake to finance $560 mln for Vietjet’s 4 Airbus aircraft

Castlelake to finance $560 mln for Vietjet’s 4 Airbus aircraft

U.S.-based Castlelake, a global alternative investment manager with extensive experience in aircraft investing, leasing and servicing, has agreed to finance four aircraft valued at $560 million to be acquired by Vietnamese budget carrier Vietjet.

Companies - Fri, October 4, 2024 | 5:57 am GMT+7

Malaysia eyes exporting more durian premium varieties to China

Malaysia eyes exporting more durian premium varieties to China

Malaysia's move to start exporting fresh durians to China is a big step of Malaysian farmers and businesses engaged in this industry.

Southeast Asia - Thu, October 3, 2024 | 8:19 pm GMT+7

AI key to enterprises’ digital transformation, changes CIO functions: Vietnam conference

AI key to enterprises’ digital transformation, changes CIO functions: Vietnam conference

While digital transformation encompasses a wide range of elements, it has three fundamental pillars: process, technology, and people, and artificial intelligence (AI) is a central tech component, says Pham Tuan Anh, CIO of Becamex IDC Corporation.

Companies - Thu, October 3, 2024 | 8:05 pm GMT+7

Vietnamese individuals' deposits hit record high of $276 bln on higher rates, caution

Vietnamese individuals' deposits hit record high of $276 bln on higher rates, caution

Deposits by Vietnamese citizens in banks in Vietnam reached a record high of nearly VND6.84 quadrillion ($276.17 billion) as of end-July, a 4.68% increase compared to the end of 2023, according to the central bank's latest data.

Banking - Thu, October 3, 2024 | 7:20 pm GMT+7

Vietnam to issue support decree this year for luring foreign hi-tech investments

Vietnam to issue support decree this year for luring foreign hi-tech investments

Vietnam will issue a decree this year to establish an investment support fund towards boosting foreign capital inflows into the artificial intelligence (AI) and semiconductor industries, says Minister of Planning and Investment Nguyen Chi Dung.

Industries - Thu, October 3, 2024 | 4:44 pm GMT+7

Vietnam loosens monetary policy after Fed’s rate cut

Vietnam loosens monetary policy after Fed’s rate cut

The Vietnamese government has stepped up monetary loosening after the U.S. Fed cut its benchmark interest rates for the first time in three years.

Banking - Thu, October 3, 2024 | 4:37 pm GMT+7

South Korea automation firm plans $145 mln investment in northern Vietnam province

South Korea automation firm plans $145 mln investment in northern Vietnam province

YNC Korea, an automation firm and a partner of South Korean chaebols such as LG and Hyundai, plans to invest $145 million in Vietnam’s northern coastal province of Quang Ninh.

Industries - Thu, October 3, 2024 | 4:02 pm GMT+7