(VEN) - We have seen the pace of active installation for wind in the last year, moving in a consistent way with the potential. We will see some concerns related to the planning process which could hinder us a little bit, but if the project starts in the next six months then Vietnam will be the largest market for wind in the region. Jerome Pecresse, President and CEO of GE Renewable Energy, spoke with Vietnam Economic News’ Nguyen Dao. How do you assess Vietnam’s renewable energy development? Can Vietnam catch up with other Southeast Asian countries in terms of renewable energy? Two years ago, there was a very strong development in Thailand which has now slowed down by a combination of less financing being available and unfavorable regulatory regime. So, I think when I compare it to two years ago, Vietnam is getting much more momentum for solar and wind energy. With over four GW, Vietnam has installed more solar capacity than most countries in Southeast Asia, and … [Read more...] about Vietnam gets much more momentum for solar, wind energy
Wind energy in thailand
Conference highlights ASEAN wind energy potentials
The “ASEAN Wind Energy 2019” conference in Ho Chi Minh City succeeded in opening up new investment windows for ASEAN in general and Vietnam in particular. The conference is a large-scale business platform for Southeast Asia that anticipates changes in the region’s immense wind market, specially covering Vietnam, Philippines, Thailand and Indonesia. The event aims to lay the groundwork for industry peers to connect and develop partnerships, invest and grow. The two-day (April 1-2) conference attracted more than 800 Vietnamese and international participants including 70 speakers, 20 consulting companies, developers, investors, government officials and other third party associates. The “ASEAN Wind Energy 2019” conference created many chances for participants to network, connect directly and promote cooperation in the industry via its “Online Meeting Platform”. It offered new partnership opportunities for governments & developers, presented … [Read more...] about Conference highlights ASEAN wind energy potentials
Maximising the wind revolution in energy sector
Vietnam has a mass of untapped wind power potential up and down its long coast, Photo: Shutterstock The development in both wind and solar power demonstrates Vietnam’s efforts to meet the targets set in the Revised Power Development Master Plan VII to produce 10.7 per cent of its electricity from renewable sources by 2030, thanks to a big push for incentives. As an early bird in the wind power sector, Bui Van Thinh, chairman and CEO of Thuan Binh Wind Power JSC, brought Phase 1 of the Phu Lac wind plant in the south-central province of Binh Thuan into commercial operation and connected it to the national grid in 2016. He said the company is going to continue to develop another wind power project in the neighbouring province of Ninh Thuan this year. However, Thinh admitted that investing in solar power offered more benefits than wind, because of the regulated feed-in tariff (FiT) of 9.35 cents per kWh for solar power. The company also plans to … [Read more...] about Maximising the wind revolution in energy sector
BUSINESS NEWS IN BRIEF 13/11
Interest in Singles’ Day sales skyrockets in VN An analysis conducted by online shopping aggregator iPrice found that Việt Nam’s interest in November 11 Singles’ Day sales skyrocketed this year. According to internet traffic data, the company discovered a huge jump of 210 per cent in the number of customers participating in the Singles Day sales in Việt Nam compared to the same time last year. By analysing Vietnamese search trends on Google, iPrice found that keyword searches for “November 11” began growing steadily nearly two weeks prior to the date, three times higher in search interest compared to the same period last year. In addition, Vietnamese consumers were now much more familiar with the November 11 tradition which originated from China, and excitedly look forward to it as an important annual promotion period. For the event, big merchants offered different promotions with discounts being the most popular, together with vouchers, flash … [Read more...] about BUSINESS NEWS IN BRIEF 13/11
Wind power in Vietnam starts getting more foreign investors’ interest
Foreign investors have started showing more interest in Vietnam’s wind power generation market in recent months, however, they suggested the government to raise the power price to make it more reasonable. Vietnam targets to have an output of 6,000 MW of wind power by 2030 Tra Vinh Province People’s Committee has recently given the go-ahead to Singapore-based Janakuasa Pte Ltd and Ecotech Vietnam to build the Hiep Thanh Wind Power Plant with a total investment of VND3.37 trillion (US$146 million). The 2,700ha plant has a designed capacity of 78MW from 18-19 turbines. Earlier, Tra Vinh province also licensed South Korea’s Unison eTech Co Ltd and HCM City-based Asia Energy Petroleum Corporation to develop the first phase of the Duyen Hai wind power project, which will see an investment of VND2.8 trillion (US$125 million) in its first phase with a designed capacity of 48.3MW from 21 turbines. Once operational in December 2019, the project is expected to generate over … [Read more...] about Wind power in Vietnam starts getting more foreign investors’ interest
Thai artist finds strong energy in Việt Nam
Viet Nam News By Minh Thu For Thai artist Wattanachot Tungateja, he finds inspiration from something that cannot be seen but is all around us. He believes energy is his motivation which brings him endless ideas to create his works. And whenever he comes to Việt Nam, the energy follows him. “It’s the movement of wind in the air, it’s even the beauty of the natural surface of the land that people overlook or ignore and transformed it into a form of abstract art,” he said. “I have represented them with art elements that consist of strokes, colours, dots, surface, shapes and available space, so to create a balance in visualising and reflect the imagination of my personal concept of nature.” After some years living and working between Việt Nam and Thailand, he has finished series of Dreamscape and Earth and Sky acrylic paintings where he feels free to express his feelings and motivation. He showcased the latest paintings at a joint … [Read more...] about Thai artist finds strong energy in Việt Nam
BUSINESS IN BRIEF 1/2
PNJ targets opening at least 40 stores this yearPhu Nhuan Jewelry (PNJ) plans to open at least 40 new stores this year and have 300 by the end of April. The 40 new stores include gold stores or stores combining gold and silver retail.It has also set a net revenue target of VND14.1 trillion ($619.6 million) for the parent company this year, up 30 per cent, with after-tax profit increasing 22 per cent to VND882 billion ($38.7 million).PNJ is in the process of preparing for upgrading and modernizing its ERP system, through which it can study customer behavior at outlets and better understand customer choice.The company also plans to use big data to develop new products aimed at more specific customer groups and at the same time use digital marketing strategies to expand market share.As noted by HSC, PNJ’s sales in FY2017 increased 28 per cent year-on-year to VND10.97 trillion ($482.1 million) thanks to most segments growing strongly. Gold bar revenue increased 20 per cent, to … [Read more...] about BUSINESS IN BRIEF 1/2
BUSINESS IN BRIEF 28/1
One more project in the red for VinachemA Laos-based potassium salt mining and processing project is the fifth million-dollar loss-making project of Vietnam National Chemical Group (Vinachem) and the thirteenth of the Trade and Industry sector.The total investment of this Vinachem project is $522 million, including $105 million from Vinachem, $113 million from Vietnam Development Bank (VDB), $161 million from Bank for Investment and Development of Vietnam JSC (BIDV), and $143 million from VietinBank.The project’s scope of exploration is 10 square metres. It is expected to be built within five years and start exploration from 2020, producing 320,000 tonnes annually. However, after two years of construction, the project has stalled in 2017.In 2017, the 20 subsidiaries of Vinachem recorded a total profit of nearly VND2.2 trillion ($100 million), but four projects had a negative revenue of VND2.115 trillion ($93.2 million). Earlier, in the first days of 2018, Deputy Prime … [Read more...] about BUSINESS IN BRIEF 28/1
BUSINESS IN BRIEF 9/1
Vingroup, T&T to develop urban railway projects in HanoiThe government of Hanoi City has proposed the Prime Minister allow Vingroup and T&T Group to develop three urban railway projects which the city plans to complete by 2025, Tuoi Tre newspaper reports.The two domestic investors will use their capital to make pre-feasibility studies for these projects.When the projects were announced, many investors expressed interest in Hanoi. However, only Vingroup and T&T Group have registered to take part.Both of them proposed implementing the projects in the build-transfer (BT) format. Particularly, Vingroup registered to build the 38.4-kilometer metro line No. 5 which connects Van Cao and Hoa Lac and metro line No. 2 from Tran Hung Dao to Thuong Dinh with a length of 5.9 kilometers. Meanwhile, T&T Group is keen on metro line No. 4 connecting Me Linh, Sai Dong and Lien Ha, and measuring 54 kilometers in length.The two investors said they would use their own finances to study the … [Read more...] about BUSINESS IN BRIEF 9/1
Denmark putting wind in Vietnam’s sails
At a recent conference on wind power in Vietnam, titled “Investment and Wind Profits” organized by the Embassy of Denmark in Vietnam in cooperation with Vestas, the largest wind turbine company in the world, Danish Ambassador to Vietnam Charlotte Laursen said Denmark and Vietnam have cooperated for many years on energy development. Denmark will support Vietnam in long-term planning of a green transition of its energy system, she added.Denmark, a world leader in wind power development, is committed to supporting Vietnam in advancing wind power trade and production, as well as orientations for the building and management of wind power plants, she said.Clive Turton, chairman of the Vestas sales unit for the Asia-Pacific region, said Vietnam is the second fastest growing economy in ASEAN and holds huge potential for wind power development, with a long coastline and abundant wind resources. The country’s total wind power capacity could reach 30GW.The potential for wind … [Read more...] about Denmark putting wind in Vietnam’s sails