EVN urges government to add $64.96m to electricity purchase costs
Coal demand for electricity generation is estimated at 25.84 million tonnes in 2019. Electricity of Vietnam (EVN) is urging authorities to add $64.96m (VND1.49t) to electricity purchase costs due to increasing coal prices as proposed by the Vietnam National Coal and Mineral Industries Group (Vinacomin) and the Northeast Corporation, a report revealed. In its official […]
Vietnam, Laos boost partnership in energy development
Vietnamese Deputy PM Dung lauded the Vietnamese Ministry of Industry and Trade and the Lao Ministry of Energy and Mines for their active negotiations on an agreement on the development of hydropower projects, renewable energy and mining for signing at an earliest time. He noted that Vietnam consistently opposes energy projects that harm the environment, […]
Vietnam inaugurates $1.27 billion thermal power plant
The 600 MW Thai Binh 1 Thermal Power Plant officially opened Thursday in the northern province of Thai Binh. It is expected to generate 3.6-3.9 billion kWh of electricity a year, said Duong Quang Thanh, chairman of Vietnam Electricity (EVN), the country’s sole electricity distributor. Construction of the plant commenced in 2014, with a total […]
Generating a smart energy strategy
As Vietnam is a developing country, the demand for energy, particularly for electricity to meet socioeconomic development requirements, is tremendous. Local power consumption has jumped sharply in the past 15 years, with about 9.5 per cent hike a year in actual production output, and is forecast to continue rising quickly in the next 15 years. […]
Renewable energy-led pathway vital for Vietnam
Renewable energy could become Vietnam’s lowest-cost option to meet its energy needs, according to a whitepaper released by global management consulting firm McKinsey & Company at a press conference held on January 23. At the press conference ‘Exploring an alternative pathway for Vietnam’s energy future’ evaluates how Vietnam could meet its growing energy demand at […]
AC Energy to focus on existing expansion projects in Vietnam, Australia
MANILA, Philippines — AC Energy Inc., the energy platform of the Ayala conglomerate, is focusing on its over 700-megawatts (MW) renewable energy developments in Vietnam and Australia before finding its fifth market for its regional expansion. The Ayala firm has recently bought a 25 percent stake in The Blue Circle Pte. Ltd. (TBC), a Singapore-based […]
Maintaining stable petroleum market
The world oil market suffered from unpredictable developments last year. Geopolitical instability in the Middle East, the Organisation of the Petroleum Exporting Countries (OPEC) cut supply, and the trade war between the US and China have resulted in turmoil in the market. After falling prices in the first two months of 2018, the world crude […]
Hold-ups in green energy investment
During his recent field trip to the south-central provinces of Binh Thuan and Khanh Hoa to explore the potential for renewable energy development, Bruno Angelet, Ambassador and head of the European Union Delegation to Vietnam, told VIR that Vietnam boasts great potential to develop wind and solar power projects. “The EU is greatly interested in […]
Petrovietnam reports 26 percent hike in revenues last year
The state-run giant (Petrovietnam or PVN) reported revenues of VND626.8 trillion ($26.92 billion), 18 percent higher than the target and a year-on-year rise of 26 percent. As of December 10 it had achieved its domestic crude oil production target of 11.31 million tons. Total oil and gas output reached 23.98 million tons (gas converted into […]
Vietnam’s renewables industry looking rosy
This opens up golden opportunities for the private sector to tap into the growing demand, but several bottlenecks must first be solved. The energy industry is now looking to the private sector as a financial, source in order to develop, according to the World Bank In 2018, the Vietnamese renewable power sector fared well, with […]