Quickly transform energy investment ideas into concrete projects

(Chinhphu.vn) - On the afternoon of August 5, at the Government Headquarters, Deputy Prime Minister Nguyen Chi Dung received Aboitiz Group - the Philippines' leading energy enterprise belonging to Aboitiz Group.

Deputy Prime Minister Nguyen Chi Dung supports Aboitiz Group's plan to expand investment in Vietnam in the renewable energy sector, especially in the context of Vietnam's efforts to accelerate energy transition and develop a green economy . - Photo: VGP/Thu Sa

Established in 1988, AboitizPower currently operates nearly 50 power plants in the Philippines with a total capacity of about 5,000 MW with diverse power sources such as thermal power, hydropower, geothermal power, wind power and solar power.

In Vietnam, Aboitiz Group has invested in the agricultural sector since 2014, with a system of animal feed factories located in many localities, such as Tay Ninh, Dong Thap, and Ho Chi Minh City.

Mr. Danel C. Aboitiz, Chairman and CEO of Aboitiz Power, expressed his desire to learn about Vietnam's priorities and directions in energy development in general and the electricity sector in particular. At the same time, Aboitiz Group also wishes to invest in the electricity sector in Vietnam, especially contributing to the improvement and upgrading of the power transmission system.

Besides its strength in coal power and extensive experience in hydropower, Aboitiz Group is also researching the application of artificial intelligence to build a maintenance system for power projects.

Congratulating and appreciating the effective business results of Aboitiz Group and AboitizPower Company, especially in the renewable energy sector, the Deputy Prime Minister supported the Group's intention to expand investment in Vietnam in the renewable energy sector, particularly in the context of Vietnam's accelerated energy transition and green economic development.

Currently, Vietnam is entering a new era with efforts to develop its economy rapidly and sustainably, striving for double-digit growth in the coming period to create a foundation for realizing its two centenary goals. The demand for electricity is very high, especially for emerging industries such as AI and big data.

"Vietnam determines that investment in energy development must ensure three factors: Sufficient electricity, clean and stable. In any situation, there must be enough electricity to serve economic development," the Deputy Prime Minister emphasized.

The Deputy Prime Minister asked Aboitiz Group to discuss in detail with the Ministry of Industry and Trade and relevant localities to seek suitable projects, especially wind power, solar power, and LNG projects - Photo: VGP/Thu Sa

Regarding energy supply, to ensure a clean, stable, and cost-effective energy supply to meet international commitments and the aforementioned development goals, Vietnam has issued the Power Development Plan VIII, which sets a target for renewable energy sources to account for approximately 28-36% of the total grid capacity by 2030, with a projected increase to 74-75% by 2050. Simultaneously, the plan aims to further improve the institutional framework, create a transparent legal environment, and develop a synchronized and smart grid system to promote the implementation of large-scale power projects with high spillover potential.

In order to soon transform investment ideas into specific projects, the Deputy Prime Minister suggested that the Group discuss in detail with the Ministry of Industry and Trade and relevant localities to seek suitable projects, especially wind power, solar power, LNG projects, etc.

In addition, the plan includes researching and investing in models that combine renewable energy power plants with data centers; developing supporting industries to serve the Group's projects in Vietnam and for export to international markets; and actively consulting on mechanisms and policies for effective management of power sources and human resource training.

In addition, continue to expand investment in Vietnam in areas where the Group has experience and strengths, including through M&A activities, such as: Production of animal feed, agricultural products, food, finance-banking, infrastructure, etc.

On the Vietnamese side, the Government is committed to creating all favorable conditions for domestic and foreign investors to invest in business effectively, long-term and sustainably.

Thu Sa

Source: https://baochinhphu.vn/som-chuyen-hoa-cac-y-tuong-dau-tu-nang-luong-thanh-du-an-cu-the-102250805154821207.htm