Renewables have the potential to become the lowest-cost option for Vietnam to meet its energy needs. Antonio Castellano, partner at global management consultants McKinsey&Company, told VIR’s Thy Nguyet how the country could meet the growing demand at lost cost on the sidelines of last week’s Vietnam Power Development Summit 2019. Antonio Castellano The future for renewables in Asia looks quite bright. Developing countries lead the way in terms of adding to renewable energy capacity. What are the current opportunities for Vietnam to attract investment in this sector? The future could be quite bright, but I think at the moment it is lagging behind the market in Asia. That is why we released a whitepaper exploring an alternative pathway for Vietnam’s energy future, that evaluates how Vietnam could meet the growing energy demand at the lowest cost, with the best opportunities for capital formation, the least impact on public budgets, and with the least risk. … [Read more...] about Exploring alternate options in energy
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PM expects new wave of Canadian investment into Vietnam
The Vietnamese PM, who is on a State visit to the North American country from June 8-10, spoke to investors attending the Vietnam-Canada Business Roundtable held in Québec, Canada on the afternoon of June 8 (local time). Discussing Vietnam’s development, PM Phuc pointed out a series of Vietnamese economic records, such as its high economic growth, export-import turnover reaching US$425 billion, and foreign investment over US$37 billion in 2017. Vietnam is a large purchasing power market with average income at purchasing power parity of US$6,800. Foreign associations such as Eurocham, Jetro, Amcham and Kocham consider Vietnam a priority investment destination in ASEAN. Many transnational corporations choose Vietnam as a strategic manufacturing hub to connect to global supply chains. He said he hoped that the Quebec business community in particular and the Canadian business community in general will be active partners in Vietnam's development process, adding that in March … [Read more...] about PM expects new wave of Canadian investment into Vietnam
Changing the game with a new breed of turbines
GE’s Greenville facility is the home of its HA technology, the most efficient gas turbines in the world The cradle of the world’s most efficient turbines Calling itself the largest gas turbine manufacturing plant in the world, GE’s facility in Greenville in the US state of South Carolina strikes most first-time visitors with its scale and modernity. Imagine the size of a standard football field, then multiply it by 20; this is nearly the equivalent of the total area of the plant’s manufacturing halls. Is that impressive enough? The answer is no, because just after taking the first step inside this unique world, you will see that yellow gantry cranes are playing puzzles with giant rotors and stators, machines are automatically operated under the guidance of computers and the world’s largest and most efficient turbines are laid out in test stands, preparing for a new journey. Dating back to the late 1960s, GE’s facility in Greenville has evolved … [Read more...] about Changing the game with a new breed of turbines
Investments in basic services must be complemented by policy and…
“It is commendable that Pacific governments are stepping up their infrastructure investments, for example, in renewable energy to help reduce electricity costs and progress towards ambitious international climate change commitments,” said ADB Director General for the Pacific Ms. Carmela Locsin. “These efforts must be complemented by critical reforms to improve the efficiency and performance of utilities responsible for providing basic services in Pacific economies, including the promotion of further private sector participation.”The latest issue of the Pacific Economic Monitor focuses on the developments in the utilities sector in the subregion, particularly electricity. (Photo: ADB)Economic prospects for the Pacific remain positive, but growth will remain slow compared to other subregions, according to the report. For 2018, growth in the Pacific is expected to remain flat at 2.2%. This is partly due to the impacts of disasters including an earthquake in Papua … [Read more...] about Investments in basic services must be complemented by policy and…
Solar industry shining bright
Six years after announcing it was leaving Vietnam and then unsuccessfully tried to sell all the assets and facilities at its Ho Chi Minh City-based solar equipment manufacturing project, First Solar last year suddenly declared it planned to return to the country and the city. It set about recruiting large numbers of human resources in mid-January and then held a ceremony to take delivery of the initial equipment needed for producing its latest, high-tech Series 6 photovoltaic (PV) modules in the city’s Dong Nam Industrial Park, where it first operated. Old stamping ground First Solar was initially licensed in early 2011 to invest in a PV module manufacturing project with total investment of $1.2 billion at Dong Nam. Just a few months after getting the project underway, however, it then announced it was suspending operations due to an imbalance between global supply and demand for solar panels. It authorized Cushman & Wakefield to sell all of its facilities in … [Read more...] about Solar industry shining bright