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Vietnamese President Tran Dai Quang and his US President Barack Obama witnessed the signing ceremony. — Photo VNA
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HA NOI (Biz Hub) — The Ministry of Industry and Trade (MoIT) and General Electric (GE) in Ha Noi signed on May 23 a Memorandum of Understanding to accelerate the development of renewable energy in Viet Nam.
Accordingly, the two parties aimed to develop a minimum of 1,000MW of new wind farms by 2025. The farms are expected to ensure energy to approximately 1.8 million Vietnamese homes.
Vietnamese President Tran Dai Quang and United States President Barack Obama witnessed the signing ceremony.
Under the agreement, the US-based global power corporation would utilise its global wind development expertise and work with domestic developers to identify potential projects. GE would support the implementation of Viet Nam's national target programme through the local manufacturing of wind turbine equipment and components.
Speaking at the signing ceremony, Dang Huy Cuong, director general of the MoIT's General Department of Energy, said the Vietnamese government has accorded priority to renewable energy development to resolve the energy challenges for socio-economic development.
Viet Nam has a lot of potential for wind power development including geographic diversity, and extensive hydropower assets.
The development of wind power would play an important role in maintaining energy flexibility and security of Viet Nam in the future.
GE played a key role in the development of Viet Nam Mekong Delta's first wind farm in Bac Lieu Province. GE supplied 62 wind turbines, totalling more than 99MW of power generation capacity. The first phase of this wind farm connected to the national grid in June 2013.
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| Viet Nam has a lot of potential for wind power development including geographic diversity, and extensive hydropower assets. — Photo cpc.vn |
In 2009, GE established a wind-turbine components manufacturing plant in northern Hai Phong Port City. The facility has created over 600 local jobs and exported thousands of units of generator systems and wind turbine components that contribute to global energy solutions.
GE Vietnam currently employs more than 900 people and offers products and services in the power, energy connections, renewable energy, oil and gas, healthcare and aviation sectors.
Jeffrey R. Immelt, GE's CEO said they wanted to contribute in key areas such as healthcare and aviation in Viet Nam.
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During an event hosted by the American Chamber of Commerce and Việt Nam Chamber of Commerce and Industry, a series of agreements and MoUs were also signed. They include:
* Lower Mekong Research Collaboration Initiative between the US Ambassy to Viet Nam and Cần Thơ University,
* MoU on Climate Change in the Mekong Delta between the US-ASEAN Business Council and People's Committee of Ben Tre Province,
* MoU between the Viet Nam Oil and Gas Group and the Honeywell International Inc
* MoU between the Việt Nam Oil and Gas Group and the Murphy Exploration and Production Company,
* MoU to Expand Ho Tram Resort between the Asia Coast Development Company Ltd and the Cotec Construction Joint Stock Company (CotecCons),
* First Solar – Thien Tan Solar Project Agreement,
* USTDA Bac Lieu Phase III Wind Farm Feasibility Study between Cong Ly Construction-Trade-Tourism Company Ltd and the Black and Veatch Energy,
* MoU of Minnesota Biomass Plant between Tin Thanh Industrial Electricity and Steam Company Ltd and a subsidiary of Warrior Mfg. LLC,
* Nuclear Safety Training Agreement between Lightbridge Corporation and Viet Nam Agency for Radiation and Nuclear Safety (VARANS),
* MoU on Support and Training between VARANS and Westinghouse,
* MoU to Promote Road Safety between UPS Viet Nam and AIP Foundation.
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