Huadian Group, Energy China wants to invest in pumped storage hydropower in Vietnam

China's two leading power corporations, Huadian and Energy China, have expressed their desire to invest in new energy sectors, including pumped storage hydropower projects in Vietnam.

Prime Minister receives Mr. Giang Nhi, Chairman of the Board of Members of Huadian Group - Photo: N.AN

Within the framework of attending the 8th Greater Mekong Sub-region Cooperation Summit and working in China, the Prime Minister received a large Chinese corporation in the electricity sector.

Receiving Mr. Giang Nhi, Chairman of the Board of Members of Huadian Group, Prime Minister Pham Minh Chinh proposed promoting cooperation in the electricity sector, building power centers and new power source projects, renewable energy projects as well as boosting the import of electricity from China to Vietnam.

Promote increased electricity imports, clean electricity

Mr. Giang Nhi said that Hoa Dien Group is investing in 3 projects in Vietnam with a capital scale of 2.8 billion USD, including Duyen Hai 2 thermal power project and wind power projects in Dak Lak and Binh Thuan with a capacity of 1.5GW. Hoa Dien cooperates with Vietnam Electricity Group in promoting environmental protection, energy saving and emission reduction.

Expressing his desire to form a power system connected to Vietnam to contribute to the implementation of Vietnam's National Power Plan (Power Plan 8), the chairman of Hoa Dien Group wants to increase investment in wind power, solar power, pumped storage hydropower, as well as energy storage in Vietnam.

At the same time, the group wants to cooperate with Vietnam to share experiences, improve capacity in ensuring the safety and reliability of the power system, and train human resources. Strengthen cooperation in scientific and technological innovation, especially in developing clean electricity, including electricity storage and hydrogen. He also proposed to remove obstacles to the wind power project in Dak Lak to put it into operation soon.

Appreciating Hoa Dien’s investment activities in Vietnam, Prime Minister Pham Minh Chinh welcomed the group to expand its scale and scope of investment and business in the field of green energy infrastructure, especially in fields such as wind power, solar power, and hydrogen.

Welcoming the group's focus on transferring science and technology, innovation, management experience, training high-quality human resources, and cooperation in electricity distribution and trading, the Prime Minister asked the group to continue cooperating and supporting Vietnam in proposing new investment ideas and projects.

In particular, it is necessary to expand the scale of cooperation, form energy industry centers associated with concentrated industrial parks, processing and manufacturing centers; develop the energy equipment manufacturing industry, build transmission lines connecting electricity with China to Vietnam's 500kV line.

Regarding the recommendations to remove obstacles for wind power projects, the Prime Minister said that he is assigning Vietnamese authorities to review them with the spirit of removing difficulties for businesses and putting the project into effective operation.

Accordingly, Vietnam is amending relevant laws such as the Investment Law and the Electricity Law to facilitate investors more effectively and sustainably.

The Prime Minister suggested that Energy China expand its investment in Vietnam - Photo: N.AN

Investors wait for electricity price mechanism

Receiving Mr. Truong Duc Luong, Vice President of Energy China Corporation - which currently has a thermal power plant invested in Hai Duong with a capital of 2 billion USD, Prime Minister Pham Minh Chinh suggested that this corporation increase its investment scale, especially wind power, solar power, and hydrogen projects with double the investment scale and reasonable cost.

Affirming his confidence in investing in Vietnam, Mr. Truong Duc Luong said that he will expand investment in new power projects in Vietnam such as wind power and pumped storage hydropower. Along with that is the construction of integrated thermal power and renewable power complexes and integrated transportation projects using wind power, solar power, rest stops, etc.

He shared that Energy China is currently working with EVN and related units to develop plans and cooperate in researching the power grid in Hanoi, to ensure the safety of the power system and power transmission. At the same time, it is promoting the pumped storage hydropower project in the Power Plan 8 when the company has the advantage and experience of investing in 20 pumped storage hydropower projects in China.

However, the chairman of Energy China is concerned about Vietnam's electricity price mechanism, hoping to soon have a suitable price mechanism to attract investors.

Because this is an important factor in mobilizing capital for investment projects, especially the use of foreign currency to ensure investment efficiency. Currently, the group has completed a number of projects to invest in Vietnam, but is still waiting for the price mechanism.

Prime Minister Pham Minh Chinh highly appreciated the investment and business activities, as well as welcomed Energy China's initiative in proposing cooperation and support for Vietnam. Regarding the proposals to expand investment projects, the Prime Minister said that Vietnam is actively amending relevant regulations to facilitate investors.

Therefore, he hopes that the company will invest in clean power projects in Vietnam such as wind power, solar power, LNG power, and pumped storage power; and welcomes the group to participate in transportation projects in Vietnam such as expressways through public-private partnership (PPP) projects or bidding for road construction, standard railway lines, high-speed railways, etc.

Source: https://tuoitre.vn/tap-doan-hoa-dien-energy-china-muon-dau-tu-thuy-dien-tich-nang-o-viet-nam-20241106144704459.htm