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Retail Asia18/10/2022

There could be electricity shortages in the offing since a leading gas firm has to reduce supply to thermal power plants to relocate a rig. PetroVietnam Gas Joint Stock Corporation (PVGas) announced that its contractor, Hibiscus of Malaysia, would stop gas supply to the Ca Mau power plant for three days from Oct. 17. They […]

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Retail Asia23/09/2022

Energy developer Trungnam Group plans to issue US$500 million worth of bonds in the next three years to fund a number of projects until 2030. It is planning onshore and near-shore wind power plants that will almost triple its renewable energy capacity by 2026 from the current 1.6 gigawatts of mostly wind and solar energy, […]

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Retail Asia13/09/2022

Japanese retailer Aeon launched a new label in Vietnam, focusing on cheap everyday clothing, as an answer to brands like H&M or Uniqlo. The new lineup, called My Closet, features around 400 items that cost 50%-75% that of its competitors, targeting 16- to 24-year old women, a group of consumers that is growing fast in […]

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Retail Asia29/07/2022

The Ministry of Industry and Trade wants coal-fired plants with a capacity of 14,120 megawatts scrapped from electricity production plans for Vietnam to achieve net-zero emissions by 2050. The plants were included in Power Development Plan 7 (for 2011-20) and have not been built due to delays. Now, the ministry does not want them to […]

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Retail Asia15/06/2022

Unclear regulations, low prices and an insufficient grid are hampering efforts to develop offshore wind power, experts and industry insiders have said. By 2030 offshore wind power capacity would be 7,000 megawatts (MW), envisages the Power Development Master Plan VIII for 2021-30. But Nguyen Thi Thanh Binh, deputy director of conglomerate T&T Group, said at […]

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Retail Asia20/04/2022

Vietnam will reduce coal-fired power supply by two-thirds between 2025 and 2045 and increase renewable power supply to account for more than half of the total. All localities have expressed agreement with the Ministry of Industry and Trade’s latest version – Power Power Development Plan 8 – which was announced earlier this month. The ministry […]

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Retail Asia04/04/2022

Vietnam wants to import around five million tonnes of coal from Australia amid a domestic shortage that has forced power plants to cut production. Apprising Australian ambassador Robyn Mudie about this on Friday Minister of Industry and Trade Nguyen Hong Dien sought his help to link up Vietnamese companies with their Austrian counterparts so that […]

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Retail Asia01/04/2022

Vietnam may face a power shortage from April due to tight coal supplies, Vietnam Electricity (EVN) reported. Some thermal power plants are operating at 60-70 percent capacity, which has led to a decline in electricity supply as the high-demand season nears. The decline in power production is seen at Nghi Son 1, Vung Ang 1, […]

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Retail Asia28/02/2022

State power utility Vietnam Electricity (EVN) made a profit of VND4.74 trillion ($207.6 million) from all activities in 2020. But, its core business of electricity production and trading reported VND1.3 trillion in losses due to price reduction and discounts. In 2020, EVN sold each kilowatt-hour for an average VND1,820.20, down 1.68 percent from 2019. Reduction […]

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Retail Asia18/06/2021

Japan’s Mitsubishi Corporation will develop Southeast Asia’s largest wind farm in Laos to supply electricity to Vietnam, where demand is expected to grow continuously. The 600-megawatt onshore project, the first wind farm in Laos, will be located in the southern provinces of Sekong and Attapeu, the company said in a statement. By installing a dedicated […]

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Retail Asia06/05/2021

Vietnam targets reducing coal-fired power production by 6 percent this year to prioritize solar and wind energy even as it grapples with limited transmission capacity. This means a cut of 8 billion kilowatt-hours from a projected 126 billion kilowatt-hours of coal-fired power this year. National utility Vietnam Electricity (EVN) estimates total production from all sources […]

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Retail Asia09/04/2021

Vietnam is set to cut up to 1.74 billion kilowatt-hours of renewable energy in the second half this year to deal with national grid overload. A plan proposed by the National Load Dispatch Center (NLDC), under the national utility Vietnam Electricity (EVN) intends to cut 180 million kilowatt-hours per month in the third quarter and […]

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Retail Asia26/01/2021

A $2-billion power generation unit of state-owned utility Vietnam Electricity (EVN) will have an initial public offering on the country’s main bourse next month. The Power Generation Corporation 2 (EVNGENCO 2), based in the southern city of Can Tho, will issue nearly 580 million shares on the Ho Chi Minh City Stock Exchange, or nearly […]

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Retail Asia22/12/2020

The government has cut electricity prices by 10 percent for the year’s last quarter to support economic recovery from Covid-19 impacts. The discount applies to businesses and households for a maximum of 300-kilowatt-hour consumption per month from October to December. Consumption above this limit will attract normal prices. Covid-19 quarantine centers will get a 100 […]

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Retail Asia09/12/2020

National utility Vietnam Electricity (EVN) has signed three memoranda to purchase power from Laotian companies amid expected energy shortages. EVN will buy power from two hydropower plants and one coal-fired power plant in neighboring country Laos starting 2024, according to the memorandums of understanding signed Sunday. The 84-megawatt Nam Yeuang hydropower plant and 300-megawatt Nam […]

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Retail Asia03/12/2020

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Thai energy firm Gunkul Engineering Plc has acquired the 50-megawatt Phong Dien II solar power plant in the central Thua Thien Hue Province for $39.9 million. The plant is set to begin commercial power generation on December 15 with a feed-in tariff of 7.09 U.S. cents per kilowatt-hour for 20 years. The acquisition is part […]

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Retail Asia25/09/2020

Vietnam Electricity (EVN) will face increasing financial difficulties in the coming years as its payment obligations to independent power projects keep rising. National utility EVN’s gross margin fell from 15.1 percent in 2015 to 12.9 percent last year due to rising costs of payment to new coal-fired independent power projects (IPPs), a recent report by […]

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Retail Asia08/09/2020

With its energy deficit rising every year, several experts are advising Vietnam to reconsider the shelved nuclear power program. Nuclear energy is one of the recommendations made by experts as the Industry and Trade Ministry (MoIT) gathers public inputs for its 2021-2030 National Energy Master Plan. Tran Xuan Hoa, Chairman of the Vietnam Mining Technology […]

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Retail Asia09/07/2020

Vietnam is struggling to fully utilize the potential of renewable energy because of policy roadblocks even though power shortages are expected in upcoming years. In the central province of Ninh Thuan, one of the solar power hotspots in the country, nine of 15 operating solar projects are running at just 30-60 percent of their maximum […]

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Retail Asia05/05/2020

U.S. electric carmaker Tesla Inc has applied for a license to supply the electricity in the United Kingdom, The Telegraph reported on Saturday. The purpose of the license from the energy regulator may be to introduce the company’s Autobidder platform, the report said, citing a company source. The application did not make clear why Tesla […]

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