Monday, August 21, 2017 - 20:52:31

Vietnam seeks to push biomass power development

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A consultation workshop on biomass power investment guidelines for Vietnam was held in Hanoi on August 14, providing information on investment procedures in the field in the country.

The workshop was part of the Renewable Energy Support Programme (RESP), which has been carried out in Vietnam by Germany’s development cooperation organization (GIZ) with support of the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety since 2012.

Werner Kossmann, RESP technical advisor said the project’s goal is to make it easier and less risky for investors to invest in the biomass energy sector in Vietnam , thus contributing to realising the target set forth in the National Power Development Plan No 7 (NPDP 7) on power generation from biomass sources.

Earlier, the Prime Minister issued Decision 24/2014/ND-CP, specifying support mechanisms to develop biomass power projects in Vietnam .

Accordingly, biomass power projects can enjoy preferential treatments in terms of investment capital, investment credit, export credit and import tax exemption for materials and other goods that make fixed assets for the projects.

The decision is expected to step up public and private investment in the field.-VNA
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