T&T Group and Erex Group (Japan) cooperate to develop biomass power plant in An Giang

Recently, T&T Group and Erex Group (Japan) signed a cooperation agreement to research and invest in the An Giang 1 biomass power plant project. This is an important event, marking a new step forward in the cooperative relationship between the two groups as well as affirming the effective and positive implementation of the cooperation agreement that the two parties previously signed. Accordingly, T&T Group and Erex Group will cooperate to research and invest in the An Giang 1 biomass power plant project with a total capacity of 50MW; located in Luong An Tra commune, Tri Ton district, An Giang province. Also according to the signed agreement, the two parties are responsible for sharing and exchanging information on research and evaluation related to investment efficiency, technology, engineering and finance to promote the implementation and completion of the project COD as planned.

Representatives of T&T Group and Erex Group signed a cooperation agreement.

In addition, for T&T Group, the unit will be responsible for surveying, working with suppliers and signing an agreement to ensure the supply of sufficient rice husks for the project. Meanwhile, Erex Group will prepare documents and submit them to the Japanese Government for approval of project financial support from the Joint Credit Mechanism (JCM) financial support program of the Japanese Government; at the same time, propose technological solutions including EPC contractors and ensure financial resources for the project with other parties. Speaking at the ceremony, Mr. Honna Hitoshi, Chairman and CEO of Erex Group expressed his joy that T&T Group and Erex have achieved results when the two sides officially signed an investment cooperation agreement for the An Giang 1 biomass power plant project. According to Mr. Honna Hitoshi, this is a potential project, with the desire to promote and implement this project to contribute to providing a stable power source for Vietnam. “We look forward to receiving the cooperation and guidance of T&T Group to be able to carry out this project smoothly in the coming time,” emphasized the Chairman and CEO of Erex Group. Mr. Do Quang Hien, Founder and Chairman of the Strategy Committee of T&T Group, highly appreciated the efforts and dedication of Erex Group and Mr. Honna Hitoshi personally in promoting and developing biomass power in Vietnam. “When we have been together, we have always committed to transparency, prestige and efficiency. We are always honest and respectful of our partners; for the development and benefits of both parties as well as contributing to the socio-economic development of the two countries,” emphasized Mr. Do Quang Hien.

Developing biomass power plants contributes to diversifying primary fuel sources for power generation, ensuring energy security in Vietnam. (illustrative photo).

The cooperation in research and investment in the An Giang 1 biomass power plant project is of great significance; it is in line with the national power development orientation according to the Power Plan VIII, and contributes to diversifying primary fuel sources for power generation, ensuring energy security in An Giang province in particular and the Southern region in general. This will also be a driving force to encourage and attract other investment projects in the locality; promote socio-economic development of An Giang province as well as create revenue for the local budget, and partly solve jobs for the people. Moreover, in the future, the An Giang 1 biomass power plant will contribute to the efforts in the journey towards carbon neutrality by 2050 as committed by the Prime Minister of Vietnam at the COP26 Conference. Erex Group is a leading company in the field of biomass power in Japan, currently operating 5 large biomass power plants with a capacity of 270MW. With a “borderless” responsibility in decarbonization, Erex is also promoting and implementing many business activities related to renewable energy in many other countries, mainly in Southeast Asia, with the aim of realizing a sustainable society for the future. Meanwhile, T&T Group is one of the leading private economic groups in Vietnam, operating in many sectors, and is making its mark in the field of energy development. To date, T&T Group's solar and wind power plants have connected to the national grid with nearly 1,000 MW. Currently, the Group is also investing in an LNG project with a capacity of 1,500 MW. The goal by 2035 is that T&T Group's power supply capacity is expected to reach 12,000 - 15,000 MW, accounting for about 10% of the total installed capacity of power sources in Vietnam's power system. Previously, in February 2022, T&T Group and Erex Group signed a memorandum of understanding on cooperation in researching and investing in biomass power projects; and converting coal-fired power projects with biomass in Vietnam.