Solar power to light up the nation

17:23 | 31/10/2015 Industry Follow Ven.vn on

As traditional sources of energy like coal and petroleum are quickly becoming exhausted, resulting in high prices and unstable supply, Vietnam is seeking renewable resources and turning to solar power.

A solar power plant in Con Dao island (Photo:VNA)

According to the National Power Development Plan for 2011-2020 with a vision towards 2030 ( the seventh Electricity Planning) , the country’s total demand for electricity is forecast to increase nearly 10 percent annually between 2016 and 2020.

Vietnam has about 1,400-3,000 hours of sunshine a year and the total amount of radiation ranges from 230-250 kcal/cm2, which, experts said is favourable for power production and persification.

The smooth development of solar power is expected to accelerate the rural electrification programme to light up most rural households by 2020.

Vietnam has taken steps towards solar power production with the construction of a 19.2 MW solar power plant in Mo Duc d istrict, the central province of Quang Ngai last August.

Once operational in July 2016, the 900-billion- VND ( 41 million USD ) station will supply 28 million kWh to the national power network annually.

The biggest barrier to solar power development lies with exploitation cost, as necessary technologies and equipment are mainly imported from foreign countries. Most of the solar power projects in Vietnam are sponsored or use foreign loans.

Only a handful of organisations, research institutes and universities are currently engaged in this field. Meanwhile, the production and application of solar power are still new concepts to businesses and inpiduals.

Another reason for the unpopularity of solar power is that Vietnam has yet to have neither official documents stipulating the connection of renewable energy to the national electricity grid nor relevant policies.

Given this, Deputy Prime Minister Hoang Trung Hai, head of the National Steering Committee for the seventh Electricity Planning, recently urged the Ministry of Industry and Trade (MoIT) to offer investment, tax and price incentives for the development of renewable energy, including solar power.

Accordingly, investors are encouraged to mobilise financial support from organisations and inpiduals at home and abroad to implement solar power projects in line with law.

Apart from credit incentives, the projects are exempt from import taxes when purchasing materials or semi-finished products from foreign countries in order to create fixed assets./.

Source: VNA

ven.vn

See more news

Uncorking bottlenecks for support industry development

06:00 | 18/03/2023 Industry

(VEN) - Vietnam is mulling legislation to boost the low localization rate of its industrial production and means to modernize its support industries and increase their participation in the local and foreign value chain.

Da Nang greens textile-garment industry

13:00 | 17/03/2023 Energy

(VEN) - Textile and garment enterprises in the southcentral coastal city of Da Nang are seeking to green their production through the use of renewable energy, waste reduction and wastewater standardization.

High cost of construction materials puts pressure on Việt Nam's construction industry

10:13 | 15/03/2023 Industry

According to contractors and investors in Hà Nội, while the price of cement has stabilised, other essential building materials such as steel and construction sand continue to increase in price.

Thai Nguyen eases industrial cluster problems

15:00 | 10/03/2023 Industry promotion

(VEN) - Overlapping regulations and policies are among the challenges facing the northern province of Thai Nguyen in managing and developing industrial clusters (ICs).

Dak Lak seeks improved industrial policies

08:00 | 10/03/2023 Industry promotion

(VEN) - The Department of Industry and Trade of the Central Highlands province of Dak Lak has proposed amending and supplementing industrial cluster (IC) management and development regulations.

Vietnam eyes green hydrogen development

09:33 | 09/03/2023 Energy

(VEN) - On March 7 in Da Nang City, the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, the ASEAN-Japan Center, and the Vietnamese Trade Office in Japan jointly held a workshop on the application and development of the hydrogen technology in green energy transition.

Coffee industry needs sustainable development to target $6b in exports by 2030

07:00 | 08/03/2023 Industry

Việt Nam's coffee industry needs to solve many challenges to achieve sustainable development, targeting an export value of US$6 billion in 2030.

Diagnostic study on Net-Zero for energy sector in Vietnam kicked off

15:09 | 07/03/2023 Energy

The “Diagnostic study on Net-Zero for the energy sector in Vietnam” will analyse emission reduction measures to achieve net-zero emissions.

Rise of February industrial production index

07:00 | 05/03/2023 Industry

(VEN) - According to data from the General Statistics Office of Vietnam, industrial production in February 2023 grew an estimated 5.1 percent compared with January due to a higher number of working days.

Cashew industry moves to boost green production, consumption

08:00 | 03/03/2023 Industry

Although the cashew nut processing and exporting industry was warned of many difficulties in 2023, Vietnamese exporters still have many opportunities to boost exports if both businesses and farmers turn to green production, insiders have said.

Latest Most Read

Central bank to cut refinance rate in next quarter: UOB

06:12 | 02/04/2023 Finance-Banking

The Singapore-based United Overseas Bank (UOB) anticipates the State Bank of Vietnam (SBV) will cut its refinance rate in the second quarter this year by 100 basis points to 5.00%.

Intellectuals form important force for social development: Party leader

06:00 | 02/04/2023 Science - Technology

The Vietnam Union of Science and Technology Associations (VUSTA) held a ceremony on March 24 in the presence of Party General Secretary Nguyen Phu Trong to mark 60 years since then President Ho Chi Minh had a meeting with intellectuals (May 18, 1963) and its 40th founding anniversary (March 26, 1983-2023).

Thai Nguyen wants to be everyone’s cup of tea

06:00 | 02/04/2023 Province

(VEN) - The leading tea growing province of Thai Nguyen is trying to expand its export markets with safe and organic growing, brand development and protection and enhanced management.

Investment surges in Bac Ninh Province

13:00 | 01/04/2023 FDI

(VEN) - In February 2023, foreign direct investment (FDI) in Bac Ninh Province continued to soar, almost doubling the number of projects and tripling the registered capital. Various business promotion plans are expected to help the small province just east of Hanoi achieve breakthrough investment attraction throughout the year.

Vietnam wins 17 prizes at International Robothon 2023

06:00 | 01/04/2023 Science - Technology

The Vietnamese team won 17 prizes at the International Robothon 2023 held in Kuala Lumpur, Malaysia, on March 26.

Uncorking bottlenecks for support industry development

06:00 | 18/03/2023 Industry

Vietnam adopts high integration standards

06:00 | 25/03/2023 Companies

(VEN) - Given Vietnam’s increased integration into the global marketplace, domestic producers are being urged to meet standards beyond those expected of high-quality Vietnamese products.

Vietnam seeks response to corporate tax overhaul

06:00 | 20/03/2023 Finance-Banking

(VEN) - All European Union states and many other countries will introduce a global minimum tax (GMT) of 15 percent on large corporations by the start of 2024, and Vietnam is being urged to devise appropriate policies and adapt to the new taxation.

Understanding UK trade remedies

06:00 | 17/03/2023 Vietnam and other regions

(VEN) - The UK-Vietnam Free Trade Agreement (UKVFTA), which entered into force on 1 January 2021, has become a two-way highway promoting bilateral trade. However, increasing protectionism trends make it important for Vietnam and its business sector to understand UK regulations on trade remedies and dispute settlement.

Vietnam amends intellectual property law

06:00 | 24/03/2023 Vietnam and other regions

(VEN) - Vietnam’s newly amended Intellectual Property Law has gone into force, bringing the country in line with international best practices.

Multimedia

Video Longform Infographic Photo

ha no i seeks support from world heritage centre in restoration of ki nh thien palace

Hà Nội seeks support from World Heritage Centre in restoration of Kính Thiên Palace

06:00 | 01/04/2023 Culture

Hà Nội has received great attention and help from the United Nations Educational, Scientific and Cultural Organisation (UNESCO) in cultural conservation and development.

national tourism year 2023 kicks off in binh thuan

National Tourism Year 2023 kicks off in Bình Thuận

06:00 | 01/04/2023 Tourism

The 'Bình Thuận-Green Convergence' themed programme seeks to drive green growth and promote tourism development through collaboration with other economic sectors for sustainable progress.

Oscar dream

09:05 | 28/03/2023 Video

Witness the inspiring story of Vietnamese director Hà Lệ Diệm and her documentary 'Children of the Mist’. Despite facing several challenges, Diễm shot and edited the film in just four years with a borrowed camera and minimal training. Her incredible talent has earned her multiple prizes at international film festivals, and was even short-listed for the Oscars this year.

Vietnam remains world’s second-largest coffee exporter

08:55 | 28/03/2023 Infographic

Vietnam remained the second-largest coffee exporter in the world from February 2021 to January 2022, according to the International Coffee Organisation.

Ha Long Bay, Cu Chi Tunnels among ten adventurous tourism places in Southeast Asia

07:00 | 25/03/2023 Infographic

The travel magazine The Travel has listed Ha Long Bay in the northern coastal province of Quang Ninh and Cu Chi Tunnels in Ho Chi Minh City among the ten must-visit epic and adventurous places in Southeast Asia.

Policy

Vietnam objects to Taiwan’s live-fire drills in Ba Binh

19:10 | 31/03/2023 Policy

Vietnam resolutely opposes to and demands Taiwan (China) to cancel live-fire drills in the waters around Ba Binh (Itu Aba) belonging to Vietnam’s Truong Sa (Spratly), vice spokesperson of the Vietnamese Ministry of Foreign Affairs Pham Thu Hang said on March 31.

E-visa stay period may be extended to 90 days

18:09 | 27/03/2023 Policy

The Ministry of Public Security has recently proposed that e-visa holders might be able to stay in Viet Nam for up to 90 days instead of the current 30 days.

New legal documents in first half of March 2023

06:00 | 23/03/2023 Policy

VEN lists the latest legal documents issued by the Vietnamese Government, ministries and state agencies.

Animal feed industry asks for import tax reduction on raw materials

09:55 | 20/03/2023 Policy

The Government has received a proposal from the Vietnam Feed Association to eliminate the import tax on soybean meal, currently set at 2%.

Industry & Trade

HCM City to host international paper, coatings, rubber, and plastic expos

09:29 | 29/03/2023 Industry

Four international exhibitions, Paper Vietnam, Rubber and Tyre Vietnam, Coatings Expo Vietnam, and Plastech Vietnam, will be held in HCM City from June 14 to 16.

Bac Kan produce takes off

10:00 | 26/03/2023 Industry promotion

(VEN) - Efficient trade promotion has helped agricultural and unique products of the northern province of Bac Kan reach foreign markets, including the Czech Republic and Japan, among others.

Bac Giang develops rural industrial exports

07:00 | 25/03/2023 Industry promotion

Ocean dialogue dicusses offshore renewable energy potential

09:53 | 24/03/2023 Energy

Offshore renewable energy was the centre of discussion at the 10th Ocean Dialogue in the central province of Khanh Hoa on March 23.

Investment

Investment surges in Bac Ninh Province

13:00 | 01/04/2023 FDI

Vietnam's retail market proves attractive for foreign investors

09:21 | 29/03/2023 FDI

Vietnam is becoming an attractive retail market for companies all over the world with many regional and global FDI investors recently announcing plans to increase capital and expand distribution networks here.

Asian investors increasingly keen on Vietnam

13:00 | 26/03/2023 FDI

(VEN) - Vietnam is considered a promising destination for investment from Asia, as evidenced by the increasing operations of multinational corporations.

India introduces pharmaceutical industry' opportunities to potential Vietnamese investors

19:54 | 23/03/2023 Vietnam and other regions

Invest India, the National Investment Promotion & Facilitation Agency, had networking hybrid meet in Ho Chi Minh City, introducing investment opportunities in Indian pharmaceutical industry to potential Vietnamese investors.

Finance-Banking

Central bank to cut refinance rate in next quarter: UOB

06:12 | 02/04/2023 Finance-Banking

The Singapore-based United Overseas Bank (UOB) anticipates the State Bank of Vietnam (SBV) will cut its refinance rate in the second quarter this year by 100 basis points to 5.00%.

Decree 08, a magic wand for corporate bonds?

06:00 | 30/03/2023 Finance-Banking

(VEN) - Economists believe the newly issued government decree on the private issuance of corporate bonds will have a positive impact on the corporate bond market.

Foreign investors expand consumer finance business in Vietnam

09:08 | 29/03/2023 Finance-Banking

Large foreign financial groups have actively penetrated the Vietnamese consumer finance market, which has significantly helped accelerate the digitalisation of the country’s financial services.

Stock market violations to face stricter sanctions

07:10 | 26/03/2023 Stock Market

The State Securities Commission (SSC) will review the Law on Securities and related decrees to complete the legal framework, and strengthen sanctions for violations to protect the legitimate rights and interests of investors.

Environment

COP28 President-Designate to speak at Berlin Energy Transition Dialogue Conference

16:21 | 29/03/2023 Environment

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, will visit Berlin to give a keynote speech at the Berlin Energy Transition Dialogue Conference 2023 (BETD) and meet with senior leaders and ministers from across the world. During the BETD, Dr. Al Jaber will repeat his call for governments, the private sector and civil society to work together for swift and ambitious action to reduce global emissions and progress the energy transition.

Turning coffee grounds into energy

13:00 | 27/03/2023 Environment

(VEN) - Turning coffee grounds into biomass energy has helped the Nestlé Vietnam Co., Ltd save VND40-50 billion a year.

Vietnam saves 298,000 kWh during Earth Hour 2023

10:48 | 27/03/2023 Environment

With lights turned off for one hour starting 8:30 pm on March 25 in response to the 2023 Earth Hour campaign, Vietnam saved 298,000 kWh of electricity equivalent to about 555.6 million VND (23,617 USD), according to the Vietnam Electricity (EVN)’s National Load Dispatch Center.

The value of wood scraps for business

13:00 | 25/03/2023 Environment

(VEN) - Reusing scraps derived from most stages of wood exploitation and processing will increase business profits by two to three percent.

Science - Technology

Intellectuals form important force for social development: Party leader

06:00 | 02/04/2023 Science - Technology

Vietnam wins 17 prizes at International Robothon 2023

06:00 | 01/04/2023 Science - Technology

The Vietnamese team won 17 prizes at the International Robothon 2023 held in Kuala Lumpur, Malaysia, on March 26.

Vietnam, US cultivate sci-tech, innovation cooperation

06:00 | 30/03/2023 Science - Technology

Vietnamese Deputy Minister of Science and Technology Bui The Duy held a working session in Hanoi on March 23 with a business delegation of the US-ASEAN Business Council (USABC) led by the council's President and CEO Ted Osius who were on a working visit to Vietnam from March 21-23.

A321neo: Breakthrough technology saves fuel consumption up to 20%

Solar power to light up the nation

See also

See more news

Multimedia