In Vietnam's booming energy sector coal reigns, but renewables play catch-up via TrongKhanhVu hgloystein
HANOI/SINGAPORE - Vietnam has become a hot spot for energy investors eying a spend of up to $150 billion over the coming decade to meet surging power demand, with coal set to dominate despite signs of a government effort to go green.
“Vietnam is a big growth story for the coal industry. Coal demand will be extremely strong,” said Pat Markey, Managing Director of Sierra Vista Resources, a Singapore-based commodity advisory. “One of Vietnam’s priorities is to develop renewable energy sources to gradually reduce its reliance on traditional sources of electricity to protect the environment,” Deputy Minister of Industry and Trade Cao Quoc Hung said in a statement posted on the ministry’s website earlier this month.Facing a rapid rise in pollution, the Ministry of Industry and Trade has started to offer incentives for renewables, which so far only play a marginal role in Vietnam’s energy sector.
Billen said there was also “growing interest in wind power thanks to attractive feed-in tariffs” of 8.5 cents per kWh for onshore and 9.8 cents per kWh for offshore facilities. Power consumption hit a record 36,000 MW this month, close to the maximum available capacity, according to government data, while the government this week asked consumers not to set air-conditioners too low to help avoid blackouts.
Gregor Frank, Siemens’ Vice President for Large Gas Packages and Solution Businesses in Asia/Pacific, said the company was in “early development and financing of equity or debt” for large power projects.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Opinion | In the heart of Trump Country, renewable energy is about to flourishFarmers in southern Ohio are moving from growing soybeans to selling or leasing land to solar projects.
Leer más »
‘Playing Catch-Up in the Game of Life.’ Millennials Approach Middle Age in CrisisNew data show they’re in worse financial shape than every preceding living generation, and may never recover. Their woes have delayed traditional adult milestones in ways expected to alter the nation’s demographic and economic contours.
Leer más »
Forbes Top Influencers: Grumpy Cat, The Internet's Original Pet Superstar, Reigns SupremeGrumpy Cat tops Forbes' ranking of Top Pet Influencers, joining a list that includes such web luminaries as Pomeranian stars Jiff and Boo and precious cats Nala and Lil Bub.
Leer más »
India Waits to See Which Modi Will Reign, With Polls Pointing to Re-ElectionWith exit polls indicating Indian Prime Minister Narendra Modi will win a second term, investors and executives are waiting to see which version of Mr. Modi would take charge: the business-friendly leader or the divisive nationalist.
Leer más »
It’s jacaranda season: When purple reignsJacaranda trees are as much a trademark of the Los Angeles region as the cherry blossoms in Washington, D.C.
Leer más »
Administration rejects subpoena for Trump's tax returns, upping stakes in battle with DemocratsThe decision was no surprise, with Mnuchin indicating earlier this week that he expected the dispute to be settled by the courts.
Leer más »
In coal we trust: Australia's voters back PM Morrison's faith in fossil fuelAustralia's re-elected Prime Minister Scott Morrison once brandished a lump...
Leer más »
In coal we trust: Australian voters back PM Morrison's faith in fossil fuelAustralia's re-elected Prime Minister Scott Morrison once brandished a lump...
Leer más »