Vietnam PM asks UK, Denmark energy giants to support zero emissions plan
Prime Minister Pham Minh Chinh has asked senior executives of the UK's Enterprize Energy Group (UK) and Denmark's Copenhagen Infrastructure Partners Group to support Vietnam's ambitious net zero emissions target.
The Sunday meeting in the United Arab Emirates with Ian Hatton, chairman of the Enterprize Energy Group, and Robert Helms, board member of Copenhagen Infrastructure Partners (CIP) resulted in an exchange of experiences in the fields of offshore wind power development and renewable energy.
The prime minister said he greatly appreciated the experience and capabilities of both firms in renewable energy, particularly offshore wind power.
He warmly welcomed their proposal to explore and implement practical projects in line with Vietnam's development orientation.
Chinh said that following the COP 26 conference, Vietnam has focused on 12 main activities in fulfilling its net emission pledges.
He mentioned in particular the adoption of the National Power Development Plan VIII as well as a plan to implement it, which invites the participation of the private sector, particularly experienced and capable international investors.
The prime minister also mentioned an agreement reached with Singapore on exporting green energy to the island nation.
He said corporate projects were generally aligned with the national plan and requested that the two energy giants collaborate closely with the Ministry of Planning and Investment and the Ministry of Industry and Trade as well as state-run PetroVietnam to study and effectively implement investment projects.
Copenhagen Infrastructure Partners is a top offshore wind developer and global fund manager. The group manages 50 GW projects worth $28 billion in important markets like the U.S., UK, and Germany. It also has plans to invest over $110 billion in the renewable energy sector by 2030.
In Vietnam, CIP has established a joint venture company and two representative offices to research and develop offshore wind power projects, including the 3.5 GW La Gan project in Binh Thuan province, with a total investment estimated at $10.5 billion.
At a consultation workshop on Just Energy Transition Partnership (JETP) organized by the Ministry of Natural Resources and Environment in October, Stuart Livesey, Vietnam country director for Copenhagen Offshore Partners (COP), highlighted two challenges facing offshore wind power in Vietnam – rules on site surveys and the power grid.
Besides, the direct power purchase agreement (DPPA) mechanism should be finalized soon to attract more investments, he added.
Enterprize Energy (EE) is a British multi-industry corporation operating in the field of marine natural resource exploitation and energy development, including oil and gas, offshore wind power, onshore wind power, and thermal power.
In Vietnam, EE has cooperated with Societe Generale from France, Vestas from Denmark and ODE from the UK to develop the Thang Long Wind Complex in Binh Thuan province with two component projects – the 3,400 MW, $11.9 billion Thang Long Wind (TLW) project; and the 2000 MW, $5 billion Thang Long Wind 2 (TLW2) project that will produce and export hydrogen energy generated from water electrolysis.
- Read More
Central Vietnam province plans to build $2.4 bln LNG power plant from 2031
The 4,800-MW Chan May LNG power plant, with an investment of $2.4 billion, can be deployed in 2031-2035, according to Thua Thien Hue authorities.
Energy - Thu, November 21, 2024 | 10:41 pm GMT+7
Indonesia, France step up cooperation in economy, defence
Indonesian President Prabowo Subianto discussed economic and defence cooperation during a bilateral meeting on Tuesday with French President Emmanuel Macron on the sidelines of the G20 Summit in Rio de Janeiro, Brazil, Antara reported.
Southeast Asia - Thu, November 21, 2024 | 10:25 pm GMT+7
Thai economy to maintain upward momentum in 2025
The National Economic and Social Development Council of Thailand (NESDC) expects the Thai economy to sustain its upward momentum in 2025 with a growth of 2.3-3.3% despite growing risks.
Southeast Asia - Thu, November 21, 2024 | 10:24 pm GMT+7
Former parliament chairman Vuong Dinh Hue warned for violations
The Politburo, Vietnam's supreme decision making body, on Wednesday issued warnings to Vuong Dinh Hue, former Chairman of the National Assembly, and Nguyen Van The, former Minister of Transport, for violations while on duties.
Politics - Thu, November 21, 2024 | 10:10 pm GMT+7
Sumitomo insists on building LNG power plant in central Vietnam
Japanese trading house Sumitomo has been pushing for a liquefied natural gas (LNG)-fed power plant investment in Vietnam’s central province of Khanh Hoa.
Energy - Thu, November 21, 2024 | 8:53 pm GMT+7
Vietnam’s Vinhomes fulfils 67% of record buyback plan
Vinhomes, the housing development arm of conglomerate Vingroup, has purchased back 246.98 million shares, meeting 66.75% of the plan and accounting for 5.7% of the outstanding volume.
Finance - Thu, November 21, 2024 | 8:43 pm GMT+7
Vietnam high-speed railway should run beyond Hanoi, HCMC on either side: lawmakers
Vietnam’s mega North-South high-speed railway project should be redesigned and extended beyond Hanoi and Ho Chi Minh City as currently planned, several lawmakers have suggested.
Infrastructure - Thu, November 21, 2024 | 6:11 pm GMT+7
Vietnam-Malaysia relationship upgraded to comprehensive strategic partnership
Vietnam and Malaysia have upgraded their relationship to a comprehensive strategic partnership, the highest level in the former’s diplomatic hierarchy.
Politics - Thu, November 21, 2024 | 5:21 pm GMT+7
Petrovietnam units sign LNG supply deal for trial run of Vietnam’s first LNG power plants
PV Power and PV Gas, two units of state-owned Petrovietnam, have signed an LNG supply deal for trial operation of Nhon Trach 3 and Nhon Trach 4, Vietnam’s first LNG-to-power plants.
Energy - Thu, November 21, 2024 | 4:40 pm GMT+7
Sufficient first phase funds ensured for Vietnam’s new mega airport: transport minister
Minister of Transport Nguyen Van Thang affirmed Wednesday that funding would be secured for building the Long Thanh International Airport, set to become Vietnam’s biggest.
Infrastructure - Thu, November 21, 2024 | 3:53 pm GMT+7
Bamboo Capital wins kudos for transparent reports, good governance
Vietnamese private conglomerate Bamboo Capital Group has been honored as a Top 20 business with the Best Annual Report and the Best AGM Organization at the 2024 Vietnam Listed Company Awards (VLCA).
Bamboo Capital - Thu, November 21, 2024 | 3:37 pm GMT+7
VAFIE to organize workshop on amendments to horse racing, football betting rules
The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) and The Investor will organize a workshop on suggestions to amend the government’s Decree 06 on horse racing, greyhound racing and international football betting services.
Economy - Thu, November 21, 2024 | 2:38 pm GMT+7
Vietnam Politburo okays international, regional financial centers in HCMC, Danang
Vietnam’s highest decision-making body, the Politburo, has greenlighted the establishment of an international financial center in Ho Chi Minh City and a regional financial center in the central city of Danang.
Economy - Thu, November 21, 2024 | 1:50 pm GMT+7
Singapore's Platinum Victory seeks to gain veto at Vietnam’s REE
Singaporean fund Platinum Victory Pte. Ltd. has registered to buy more shares of Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corporation (REE) to achieve the vetoing power in the latter.
Finance - Thu, November 21, 2024 | 11:29 am GMT+7
Posco keen on investing in Vietnam's $2.2 bln LNG power project
South Korea’s steelmaker Posco is eyeing to invest in the $2.2 billion Quynh Lap LNG-fired power plant project in Vietnam’s central province of Nghe An.
Energy - Thu, November 21, 2024 | 10:42 am GMT+7
Vietnam firm Hoa Lam to build $212 mln Aeon Mall in Mekong Delta
The Mekong Delta city of Can Tho has accepted a subsidiary of private multi-sector Hoa Lam Group as the investor of the Aeon Mall Can Tho commerce and service center.
Industries - Thu, November 21, 2024 | 10:31 am GMT+7