Deputy Prime Minister Tran Hong Ha pledged maximum support for Marubeni Corporation to shift its projects using new and modern technology to Vietnam, while receiving a leader of the Japanese firm in Hanoi on March 10.
Compared to the time adopting Resolution No. 10-NQ/TW by the Politburo on January 18, 2022 on maintaining the stability of political security in the border areas, Resolution No.23 of the Government this time leans more on attracting investments for economic growth of the Central Highlands. This is the comment of Deputy Minister of Planning and Investment Tran Duy Dong in the interview conducted by Sai Gon Giai Phong (SGGP) Newspaper.
Many wind power projects in Central, Central Highlands, and Mekong Delta provinces cannot sell electricity because they are finished behind schedule, so they are suffering debts of trillions of Vietnamese dong.
In response to the Government's policy of solar power development, many businesses have invested trillions of Vietnamese dong. However, for many objective and subjective reasons, many projects could not complete before January 1, 2021, so they cannot sell electricity, wasting billions of Vietnamese dong every day.
Responding to the Government's policy of encouraging the development of solar power, many businesses across the country have invested in solar power. Ironically, many investors now have to worry about debts piling up.
To energize before December 31, 2020, to enjoy preferential prices, many enterprises in the Central Highlands had sought every way to speed up the construction of rooftop solar power projects, despite violations in land use, construction, and farm economic model.
The authorities in the Central Highlands province of Dak Lak have granted in-principle investment approval to six foreign-funded wind power projects worth more than VND10.08 trillion (US$436.5 million).
According to Vietnam Electricity (EVN), in the first quarter of this year, electricity mobilized from gas-fired thermal power plants and coal-fired thermal power plants must cut by 12-21 percent compared to last year because renewable energy (solar power) increased rapidly by up to 180 percent.
Nearly a week after the Vietnam Electricity (EVN) stopped receiving grid connection and purchasing solar power following Decision No.13/2020 signed on April 6, last year, by the Prime Minister on the mechanism to encourage the development of solar power in Vietnam, which expired after December 31, last year, investors are anxiously waiting for new regulations.
Renewable energy (RE) projects from wind, sunlight, and biomass are expected to make up for the shortage of electricity supply and gradually replace thermal and hydroelectric sources of power. This is especially important in the context that thermal power plants, especially small hydroelectric power plants, are negatively affecting the environment.
More than 500 enterprises participated in a conference on sustainable renewable energy development, hosted by the Ministry of Industry and Trade on July 9, to find opportunities to invest in the field.
Rapid development of solar power plants has led to overloading on the transmission lines and electrical substations from 110kV to 500 kV in Ninh Thuan and Binh Thuan provinces. Meanwhile, overhead power line projects to transmit power generated by solar power plants have faced several difficulties, especially obstacles in site clearance.