Japanese Erex Group will invest nearly 3,000 billion VND in a project in Yen Bai

The biomass power plant will be built on an area of ​​about 10 hectares with a total investment capital of 100 to 120 million USD. This project also received support from the Japanese Ministry of the Environment and received a decision to grant financial support under the JCM mechanism for the project's equipment items.

Chairman of Yen Bai Provincial People's Committee Tran Huy Tuan presented the Decision to Chairman and General Director of Erex Group Honna Hitoshi

The plant is expected to start operating in early 2027, generating 50 MW of electricity, of which about 45 MW will be provided by stable renewable energy sources for EVN's power transmission system. The fuel used at this power plant is about 500,000 tons/year of wood waste and by-products.

According to Erex, the group is building the first commercial biomass power plant in Vietnam with a capacity of 20MW in Hau Giang province, expected to come into operation by the end of 2024. This is also a project that receives financial support under the JCM mechanism from the Japanese Ministry of the Environment. Erex representative said the group is planning to deploy more than 1,000MW of biomass power at 18 locations.

Erex representatives believe that biomass power plants will contribute to promoting local and regional economic development, while making great contributions to the technological development and promotion of biomass energy in Vietnam and will also become projects that attract attention from all over the world.

Overview of the working session of Erex Honna Hitoshi Group in Japan

Speaking at the Decision handover ceremony, Chairman of Yen Bai Provincial People's Committee Tran Huy Tuan said that this is the first power project to be granted investment policy after Vietnam's Power Plan VIII was approved. This is also the second project of EREX Joint Stock Company to be granted investment policy approval for investment in Yen Bai province.

The project is consistent with the planning, socio-economic development orientation and priority investment attraction sectors of Yen Bai province, consistent with the national strategy on green growth and contributes to the Government's commitment to bring Vietnam's net emissions to zero by 2050. Consistent with the "Asian Net Zero Emission Community" (AZEC) initiative of Japanese Prime Minister Fumio Kishida to promote carbon emission reduction, ensure energy security and sustainable development in Asia.

Previously, Chairman of the Provincial People's Committee Tran Huy Tuan and his delegation visited and worked with the Vietnamese Embassy in Japan.

According to statistics from the Department of Planning and Investment, Yen Bai province currently has 60 foreign-invested enterprises and 37 foreign direct investment projects that have been granted investment approval decisions/investment policy decisions/investment registration certificates/investment certificates in operation, with a total registered investment capital of 415.4 million USD, equivalent to about 10,176 billion VND. Mainly in the fields of agricultural and forestry processing; mineral processing; textile and garment industry.

There are 4 foreign direct investment projects of Japanese investors that have been granted Investment Policy Approval Decision/Investment Policy Decision/Investment Registration Certificate and are currently in operation, with a total registered investment capital of 218.3 million USD, equivalent to about 5,348 billion VND (equal to 52.6% of the total registered FDI capital of the province).

Japan is Yen Bai's traditional export market with the following products: bamboo shoots, minerals, wood products, garment products with an average export turnover of 5.5 million USD/year in the last 3 years. From 2017 to present, Yen Bai has sent more than 600 workers to the Japanese market.

Source: https://daibieunhandan.vn/dia-phuong/tap-doan-erex-nhat-ban-se-dau-tu-du-an-gan-3-000-ty-dong-tai-yen-bai-i371091/