Viet Nam pledges to facilitate clean and renewable energy projects: Deputy PM

Tran affirmed that Vietnamese Government is determined to promote the implementation of large-scale power projects after the National Power Development Plan for the period 2021 - 2030, with a vision to 2050 (PDP8) was officially approved in mid-May 2023.

He spoke highly of JERA's willingness to participate in renewable projects and wished the business giant would support Viet Nam in developing stable power sources, clean energy and renewable energy, especially when the electricity demand in Viet Nam is increasing.

He expressed his hope that efficient gas emission reduction activities carried out by JERA in Japan should be implemented in Viet Nam, saying that that the Vietnamese Government would support and create favorable conditions for investors to deploy projects smoothly.

Steven Winn, for his part, said that JERA is seeking for investment opportunities in Viet Nam in field of liquefied natural gas power with the most advanced technology. 

JERA expects to participate in the process of converting coal-fired power plants to gas-fired power plants with the addition of new fuels such as green hydrogen, green ammonia, biomass, combined recovery and landfilling of carbon in Viet Nam, he shared.

Determination to operate Nghi Son LNG Thermal Power Plant Project in Q4 2030

JERA and SOVICO Group (SOVICO) have set the target to operate Nghi Son LNG Thermal Power Plant Project in the central province of Thanh Hoa in the fourth quarter of 2030, with a view to achieving net-zero emissions by 2050.

According to the PDP8, Nghi Son LNG Thermal Power Plant Project with a capacity of 1,500MW is included in the list of important projects, prioritized for investment in the power sector.

Recognizing the urgency of developing power projects to serve the increasing electricity demand in the North, the investor consortium of JERA and SOVICO has started developing Nghi Son LNG Thermal Power Plant Project since last year with the support from the Embassy of Japan in Viet Nam.

So far, the consortium of JERA and SOVICO has achieved many important milestones, notably the submission of the Pre-Feasibility Study Report to the People's Committee of Thanh Hoa Province in early July 2023 for consideration and approval.

JERA was created by the consolidation of the fuel and thermal power departments of the Tokyo Electric Power Company ("TEPCO") and the Chubu Electric Power Company.

By combining the strengths of these two big groups, JERA can fulfil the public interest of providing internationally competitive energy to Japan while ensuring a strong position on the increasingly competitive international energy market.

A new era of energy is about to begin. JERA will maximize corporate value through a stable supply of energy on an internationally competitive basis.

JERA is Japan's largest owner of thermal power plants (total capacity approximately 70GW) and operator of LNG terminals with generating capacity equivalent to half of Japan's thermal power and the world's largest LNG user with 60 years' experience in the LNG value chain from upstream, midstream to downstream which covers 05 upstream projects in Australia and U.S., LNG fleet carriers of 20 ships and 11 LNG receiving terminals in Japan with tank capacity of 6.65 million kL.

JERA procures LNG from 13 countries, total LNG transaction volume is approximately 40 million ton per annum.

SOVICO Group is a leading investment group in Viet Nam, operating with the goal of providing international quality products and services in the fields of banking and finance, aviation, digital transformation, energy, urban areas, resorts, etc. to meet the needs of customers and integrate into the global economy.

With its capacity and experience in implementing large-scale investment projects, especially in the field of LNG to power, the consortium of JERA and SOVICO wishes the Thanh Hoa Provincial People's Committee to issue Investment Policy Approval of Nghi Son LNG Thermal Power Project in order to successfully realizing the project into operation soon./.