Energetic support for power saving and conservation efforts

08:45 | 09/03/2020 Industry

(VEN) - Programs and activities on energy efficiency will play an important role in conserving the nation’s energy resources, helping the economy develop sustainably, while realizing Vietnam’s commitments to the international community to reduce greenhouse gas emissions in response to climate change.

energetic support for power saving and conservation efforts

According to the Ministry of Industry and Trade, power consumption in the industrial sector accounts for more than 47 percent of total national power consumption. The potential for energy saving in the industrial sector in Vietnam is estimated at 20-30 percent, even up to 40 percent in some industries.

The national target program on energy efficiency and conservation for the 2019-2030 period aims to reduce power losses to below six percent. To ensure energy saving in industrial production, the Energy Saving and Sustainable Development Department under the Ministry of Industry and Trade has promoted the search for capital sources through international cooperation.

Chu Ba Thi, a representative for the World Bank in Vietnam, said that over the years, the World Bank has accompanied the Vietnamese power sector’s sustainable development and will continue to support Vietnam in improving energy efficiency through a series of energy efficiency and conservation programs for the 2019-2030 period.

According to the World Bank, the Vietnam Energy Efficiency for Industrial Enterprises (VEEIE) project raised a total budget of US$158 million, including US$100 million from the World Bank and the remaining from Vietnamese commercial banks such as Vietcombank and BIDV, and businesses.

In addition, implementation of the Vietnam Scaling Up Energy Efficiency (VSUEE) project is expected in 2020 by the World Bank and the Ministry of Industry and Trade with a total budget of US$86.3 million.

The Vietnam Energy Efficiency Carbon Crediting Program (VE2C2P) on reducing greenhouse gas emissions through economical and efficient use of energy will also be implemented by the Ministry of Industry and Trade and the World Bank in the near future.

Trinh Quoc Vu, deputy director of the Energy Saving and Sustainable Development Department under the Ministry of Industry and Trade: The national target program on energy efficiency and conservation for the 2019-2030 period, with the interest of industrial enterprises and the support of the World Bank, will help businesses improve efficient energy use, contributing to conserving the nation’s energy resources.

Thanh Thanh