Maintaining FIT awards for those who missed the deadline and re-implementing nuclear power projects were some of the issues raised by foreign investors at the Vietnam Business Forum 2022.
Associate members of the Vietnam Business Forum (VBF) include the Singapore Business Association, Australian Business Association, Swiss Business Association, Taiwan Business Association, Thai Business Association, Hanoi Young Business Association, Indian Business Association, Hong Kong Business Association, and Canadian Business Association in Vietnam. They suggested that the Vietnamese government continue to develop renewable energy, improve energy efficiency and promote energy storage technology through batteries and hydrogen energy.
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Accordingly, in line with the commitments at COP26, foreign investors also believed that in the upcoming version, Vietnam should consider renewable energy trends and opportunities to complete the Power Master Plan 8, as well as a number of other master plans. and mechanisms to carry out energy planning.
Michael R. DiGregorio, head of the Environmental Working Group, said that under the draft carbon limit adjustment mechanism submitted to the EU Parliament, importers would have to buy emissions quotas for the amount of carbon in 30 feedstock categories, at a price that equals the weekly average price of comparable emission quotas in the EU.
The development of the Vietnam Emissions Trading System (ETS) and the carbon market will play an important role in this transition.
Also in 2022, the Electricity and Energy Working Group will develop a Vietnam Energy Production Plan (version 3.0) aimed at supporting the private sector in the implementation of Power Plan 8.
“Clear rules are needed for wind farms that are still under construction and cannot be operated commercially before the deadline set to benefit from the preferential FiT pricing mechanism due to the Covid-19 pandemic.” That is the proposal of many foreign business associations at this year’s VBF.
According to the announcement of the Ministry of Industry and Trade, the capacity of wind energy projects added to the schedule is currently 11,921 MW. Of these, 146 projects have signed power purchase agreements (PPAs) with a capacity of 8,171,475 MW.
The projects and parts of projects that came into operation (COD) in the period 2011 to 31 October 2021 are 84 projects with a total capacity of 3,980,265 MW. Among them are 15 projects with partial COD capacity of 325.15 MW and total non-COD capacity of 1,031.1 MW.
The US Chamber of Commerce (AmCham) also said the government should enact policies to continue supporting this sector – including support for projects experiencing construction delays due to Covid-19, and developing a new auction mechanism for further growth.
Offshore wind energy offers great potential with both solid bottom and buoyancy power estimated at around 600 GW. AmCham also called for more offshore wind energy in Power Master Plan 8. Accordingly, these offshore wind complexes should be developed with green storage units to support the transition to a carbon-free future.
US companies have also announced their support for Power Plan 8 using direct electricity purchase and off-grid power supply for wind and solar, as well as future direct power purchase agreement (DPPA) mechanisms that will allow the private sector to comply with global zero-carbon policies when in Vietnam. invests.
In addition to the proposal to suspend approval of new coal plants in Power Plan 8, foreign investors also believed that gas can play an important role as an important transition fuel and help Vietnam get rid of coal as quickly as possible.
The recommendations from the foreign business community also pointed to the need to think about the role of battery energy and hydrogen storage in the new context of the electricity market in the short term.
The Korean Chamber of Commerce (KorCham) has a proposal regarding nuclear energy.
Considering that a stable power supply is very important for economic development, Korean companies also agreed to the electricity policy of the Vietnamese government to accelerate the expansion of new energy projects. and renewable including solar energy.
However, KorCham said that in order to support the expansion of renewable energy sources, it is necessary not only to expand the power transmission network, but also to have a basic power source to ensure stable and uninterrupted power production.
“In the medium- and long-term view, there is a need for an in-depth assessment of the need to rearrange nuclear power projects in Vietnam, which has been previously paused for discussion,” noted Kotra.
Korea has a lot of experience and know-how in nuclear power generation and export, which enables Korea to cooperate with the Vietnamese government to strive for a stable power supply in the future.
@ Dau Tu
