23-24 Sep, 2014 - Seoul, SOUTH KOREA
Novotel Ambassador Gangnam
Novotel Ambassador Gangnam
Vietnam Institute of Energy under the Ministry of Industry and Trade recently said that over ten investors have shown keen interest in biomass power projects in Vietnam, which will have an average capacity of 10 MW each.
These developments comes in after Vietnam's Prime Minister's decision (March, 2014) to support the development of biomass power projects in the country.
Vietnam Institute of Energy said it is committed to build power plants of 5MW to 30MW each. But it requires guidance to implement these projects. The proposed projects are likely to drive public and private investment in the biomass power sector.
Vietnam already has a few bagasse-fueled power plants that sold biomass power to Vietnam Electricity Group (EVN) for 4 cents per kWh. Now the prices have risen to 5.3 cents. Plus, in line with the decision to support biomass power projects, EVN is required to buy biomass power.
The proposed biomass projects will also prove to be an alternative source of income for the local sugar industry that is reeling under the decline of sugar prices which is said to fall further in the future. As many as 40 sugar refineries might have to invest in biomass power plants in Vietnam as an alternative source of income.
Meanwhile, Can Tho Sugar Joint Stock Company has revealed that it has the required funds to start a 30MW bagasse-fueled power plant with an investment of US$1 million for each MW.
The company expects its bagasse-fired power project to commence operations in September 2017, if everything goes as per plans.
Although Vietnam, currently, doesn't have any licensed or listed biomass power projects in its national electricity development plan, the country has a potential to produce 150 million tons of biomass per year which is equivalent to 50 million tons of crude oil.
More on biomass power will be discussed at 5th Biomass Pellets Trade & Power on 23-25 September, 2014 in Seoul.
Contact Ms. Hafizah at hafizah@cmtsp.com.sg or call +65 6346 9218 for more details.
