return icon Vietnamnet.vn

Japanese investors circling around greener ventures

Japanese investors are planning to pour more money into renewables and environment-based projects in Vietnam, as part of both nations’ drive to help Vietnam achieve sustainable development.
Japanese investors circling around greener ventures
illustration photo source: moit.gov.vn

Hau Giang Bio Energy JSC, a joint venture from Erex Co., Ltd. from Japan, Power Engineering Consulting JSC2, and Son My Renewable Energy JSC, is eager to complete procedures to start the construction of a biomass power plant in the Mekong Delta province of Hau Giang.

Besides that, the company’s leaders and its partners are studying biomass resources in nearly 20 cities and provinces to look for investment opportunities for other plants.

Erex chairman and CEO Honna Hitoshi said, “The company plans to generate 1,500MW of biomass power by 2035, and simultaneously cutting 27,570 kilotonnes of CO2 per year. Vietnam is the first country that Erex considers investing in biomass power plants outside Japan.”

The company is also looking for places to grow great millet, also commonly known as sorghum, with a total area of 12,000 hectares to export to Japan. According to its survey, Phu Yen, Binh Thuan, Ba Ria-Vung Tau, and Hau Giang are provinces that have suitable natural conditions for this grass species.

The potential of Vietnam’s renewable energy market is luring more Japanese companies. In December last year, Marubeni Green Power Vietnam, a wholly-owned subsidiary of Japan-based Marubeni Corporation, signed a power purchase agreement with Ajinomoto Vietnam Co., Ltd. in which Marubeni Green Power will supply electricity generated by a rooftop solar photovoltaic system in Vietnam.

Last October, Sojitz Osaka Gas Energy Company Ltd., a joint venture company between Sojitz Corporation and Osaka Gas Co., Ltd., partnered with Looop Inc. to establish a new joint venture company called SOL Energy. It will begin operations of a rooftop solar power generation business geared towards industrial and commercial customers in Vietnam, according to a SOL Energy notice.

SOL Energy plans to install rooftop solar panels that can provide over 10MW of solar power to customers at Sojitz-operated Long Duc Industrial Park in the southern province of Dong Nai. Installation of solar panels is expected to reduce CO2 emissions for this park as a whole by approximately 5,800 tonnes annually.

Increasing investment in renewable energy and decarbonisation projects is becoming a Japanese trend. A survey organised by the Japan Bank for International Cooperation under the implementation by Mitsubishi Research Institute in September-October last year, and published this March, showed that 51 of the surveyed businesses said they have plans to invest in renewable energy projects, as well as manufacture products relating to energy safety in Vietnam.

A further 30 Japanese groups prefer to invest in projects collecting and recycling waste and industrial infrastructure projects relating to the environment.

The trend is also being backed by the Japanese government. In July 2021, it pledged to offer $10 billion in financial aid for decarbonisation projects in Asia, including Vietnam, such as renewable energy and conversion to gas-fired power generation to help with an energy transition.

The Vietnamese and Japanese governments have been boosting bilateral cooperation in the sectors of environment and renewable energy, and also in green economic development.

A Japan-Vietnam environmental policy dialogue is held annually, exchanging opinions on a wide range of areas, such as green growth strategy and low carbon society, environmental impact assessments, wastewater management, management of chemical substances, and much more.

According to a joint statement released by both nations on the occasion of Prime Minister Pham Minh Chinh’s official visit to Japan last November, Vietnam and Japan will facilitate more investments from the latter into the former in the sectors of environmental and renewable energy for sustainable development.

“The two prime ministers recognised the importance of simultaneously achieving both sustainable economic growth and reduction of greenhouse gas emissions as well as various pathways for realistic transitions depending on the circumstances of each country and constant innovation in order to achieve carbon neutrality by 2050,” the statement said. “Prime Minister Kishida announced that Japan would provide comprehensive support for energy transitions in Vietnam through the Asia Energy Transition Initiative, including the formulation of roadmaps and Prime Minister Chinh welcomed this.”

Source: VIR

MORE NEWS

Income per capita in 2030 expected to be equal to Malaysia in 2007

Vietnam’s GDP per capita, calculated in accordance with current prices, has increased year after year. However, the figure is lower than other regional countries.

Ministry warns of increasing serious COVID-19 cases

The Ministry of Health has warned of an increase in the number of new COVID-19 infections as well as critical cases.

New sub-variants of Omicron strain detected in Vietnam

The number of COVID-19 cases is currently increasing both globally and in the country due to the recent rapid spread of the Omicron variant, according to information given by the General Department of Preventive Medicine.

Vietnam able to become new tiger in Asia: economist

Vietnam has the potential to become a new tiger in Asia, economist Brian Lee Shun Rong at Maybank - Malaysia's largest financial services group and the leading banking group in South East Asia – has reportedly said.

Vietnamese exporters urged to expand in the EU through retail distribution system

Approaching the retail distribution system is an important way to expand exports to the European Union market, where Vietnamese goods still have significant room for growth provided by the EU – Vietnam Free Trade Agreement (EVFTA).

Regulations on auto localization ratio to be rescinded

The regulations on the automobile localization ratio will be abolished on October 10, after they have been in force for almost 20 years.

Hot TikTokers bridge ethnic cultures

Several Tiktokers from the mountainous areas of Vietnam have attracted an increasing number of followers with short videos featuring their daily lives and unique ethnic cultures.

Land irregularities bring down multiple officials

Many high-ranking officials have been disciplined, dismissed and even prosecuted for land irregularities.

Why is air quality in Vietnam getting worse?

Dr Hoang Duong Tung, Chairman of the Vietnam Clean Air Partnership and former vice-general director of the Vietnam Environmental Administration, has said that improving air quality must not be delayed.

Hanoi hosts first UK-Vietnam Migration Dialogue

Matthew Rycroft, permanent under-secretary of the UK Home Office, and Deputy Minister of Public Security Sen. Lieut. Gen. Luong Tam Quang co-chaired a UK-Vietnam migration dialogue in Hanoi on August 15.

Diversity & Inclusion - The core factor bringing Stavian Group to the world

Multinational corporations face difficulties building corporate culture due to clashes between different cultures. Stavian Group builds its corporate culture following DEI principles to tackle this problem.

Vietnam, Qatar mutually waive visas for diplomatic, official passport holders

Vietnam and Qatar signed an agreement on visa exemption for their diplomatic and official passport holders on August 15.

Minor quake hits Dien Bien again

An earthquake measuring 2.6 on the Richter scale has been detected in the northern upland province of Dien Bien yesterday morning, August 15.

Minh Khac represents Vietnam at Man of The Year 2022

Nguyen Minh Khac, the runner-up of The Next Gentle Man contest, arrived in the Indonesian province of Bali on August 15 to compete in the Man Of The Year 2022 pageant.

Mexico is largest consumer of Vietnamese pangasius

Vietnam exported pangasius products worth US$73.5 million to Mexico during the seven-month period, up 73% over the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
back_to_top