HSBC Vietnam has signed a Letter of Intent (LoI) for evaluating and providing financing solutions with a focus on sustainability with the Trung Nam Construction Investment Corporation (Trungnam Group), one of the largest renewable energy developers in Vietnam, according to Saigon Giai Phong newspaper.
The United States Agency for International Development (USAID) announced 860,000 USD in assistance for three renewable energy projects in Vietnam during the fourth Indo-Pacific Business Forum on October 28.
Low power demand coupled with oversupply of electricity at times have forced authorities to cut the capacity of renewable energy plants in order to avoid overwhelming the national grid, according to the Ministry of Industry and Trade (MoIT).
A ground-breaking ceremony was held on August 25 for the first phase of Ca Na Seaport Complex project in Thuan Nam district of the south central province of Ninh Thuan.
Deputy Prime Minister Vuong Dinh Hue has proposed FWD Insurance of the Pacific Century Group participate in green financial funds for start-up and innovation projects in Vietnam.
Deputy Prime Minister Trinh Dinh Dung hosted a reception in Hanoi on August 28 for German Deputy Ambassador to Vietnam Bjorn Koslowski and some businesses from Germany who came to explore investment opportunities in renewable energy.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and the Japan Bank for International Cooperation (JBIC) have signed a 200 million USD credit contract to finance renewable energy projects in Vietnam.
Korean investors are keen to invest in renewable energy due to its potential and the incentives that Vietnam has offered to foreign investors, an HSBC official has said.
Work on the construction of Chinh Thang wind power mill, with total investment of more than 1.7 trillion VND (73.19 million USD), started in Thuan Nam district, the south central coastal province of Ninh Thuan on April 25.
The 37.6 MW Mui Dinh wind power plant invested in by Germany’s Eab New Energy GmbH was inaugurated in Thuan Nam district of the south-central coastal province of Ninh Thuan on April 10.
The central province of Quang Tri has approved investment plans for four wind and two solar power projects, whose costs amount to more than 7.4 trillion VND (319.1 million USD).
The central province of Ninh Thuan is speeding up the construction of wind and solar power plants in order to generate commercial electricity as scheduled.
An average of nine projects in power generation and distribution were registered every month since June 2017, according to the Vietnam Renewable Energy Report 2018.
Vietnam has seen a boom in renewable energy projects, in a bid to meet the nation’s future demands for power, after the Government scrapped plans to build a nuclear power plant in Ninh Thuan province.
Boasting huge potential for renewable power development, the south central coastal province of Ninh Thuan is working to lure investments in the sector, aiming to become Vietnam’s clean energy centre.
The central province of Phu Yen has launched the first public solar power project in the provincial capital city of Tuy Hoa after six months of construction.
FECON Corporation and ACWA Power, a Saudi Arabian company, signed on July 3 a memorandum of understanding (MoU) on cooperation to develop renewable energy projects in Vietnam.
The US ACO Investment Group wants to implement renewable energy projects in Vietnam’s southern province of Binh Duong, Chairman and CEO of the group Hari Achuthan said at a working session with local authorities on February 22.
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