Vietnam could be a hub for green hydrogen production in Asia thanks to its huge resources

With the advantage of having marine resources combined with sun and wind, Vietnam can become the center of green hydrogen production in Asia.

Ms. Huynh Thi Kim Quyen - Chairwoman and General Director of The Green Solutions Group Joint Stock Company - Photo: C.DUNG

That was the comment made by Ms. Huynh Thi Kim Quyen - General Director of The Green Solutions Group Joint Stock Company - at the conference on implementing Vietnam's hydrogen energy development strategy to 2030, with a vision to 2050, organized by the Ministry of Industry and Trade on the morning of February 22.

Great potential for green energy

As the investor of the first green hydrogen project in Tra Vinh, Ms. Quyen said that Vietnam has a 3,260km long coastline, as well as many advantages in developing renewable energy, so it has sunshine, wind and seawater - which are the main raw materials in the production of sustainable green hydrogen. "This is a great opportunity for Vietnam that not many countries in the world have enough conditions for. We have sunshine, wind and seawater, which are endless sources of raw materials, creating new fuels for humanity. However, to turn the opportunity into reality, it requires a strong commitment from the Government and ministries to set standards and policies for development and support for green hydrogen," Ms. Quyen said. Sharing about the project being implemented in Tra Vinh with a scale of 1.4 billion USD, Ms. Quyen said that before starting the project, the group spent 2 years researching green hydrogen, referring to many technologies in the world and choosing the most popular technology in the world, alkaline electrolysis. However, the big challenge, according to her, is to perfect the policy mechanism, standards, investment in human resources and high technology. In addition, the production of green hydrogen is expensive, so it needs the support of policies to reduce costs, thereby spreading and transforming into sustainable technology. In addition, the CEO of The Green Solutions also said that the great potential in green hydrogen production is selling carbon credits through green ammonia products. This will be a golden opportunity for Vietnam in the context of the carbon credit trading market developing in the coming time. Therefore, up to now, the green hydrogen project in Tra Vinh has received green financial capital from international financial institutions and banks.

Removing obstacles, promoting green hydrogen

"If Vietnam successfully builds and deploys the green hydrogen industry in Vietnam based on the opportunities and foundations we have, we will shift from an agricultural economy to a green industry, skipping the heavy industry development stage," said Ms. Quyen. According to the plan, the project has implemented the basic construction items and has been licensed. Currently, the technical and professional steps are being urgently deployed for official implementation in the third quarter of 2024. It is expected that construction will be completed in 2026 and the first product will be available in early 2027.

Minister of Industry and Trade Nguyen Hong Dien - Photo: C.DUNG

Vietnam's hydrogen energy development strategy was approved by the Prime Minister in Decision No. 165 dated February 7, 2024, opening up new development space for Vietnam's energy industry in a green, clean and sustainable direction. Accordingly, the goal is to develop Vietnam's hydrogen energy ecosystem based on renewable energy, including production, storage, transportation, distribution, domestic use and export with synchronous and modern infrastructure, contributing to the goal of net emissions of "0" by 2050. The strategy offers solutions such as diversifying capital sources, investment forms, attracting non-state enterprises and international partners. Increasing investment in science and technology, human resources; applying market tools to promote green growth, low-carbon economy, and circular economy. Minister of Industry and Trade Nguyen Hong Dien said that in order to effectively implement the strategy and develop projects, the ministry will urgently advise on the development and submission to competent authorities for promulgation of specific plans to implement goals and solutions, ensuring unity and synchronization. At the same time, focus on amending, supplementing and promulgating new regulations and related policy mechanisms, contributing to perfecting the policy and legal framework in the field of hydrogen energy. Along with monitoring and urging the implementation of hydrogen energy projects, promptly resolving difficulties and problems.

Tuoitre.vn

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