S Korea, VN up green power ties

S Korea, VN up green power ties

Executives from Vietnamese and South Korean power firms at a B 二B event held on the sidelines of the Korea-Việt Nam Power and Renewable Energy Forum in HCM City on Friday. — VNS Photo Xuân Hương

HCM CITY — There are plenty of opportunities for Việt Nam and South Korea to collaborate in the power sector, including renewables, a forum heard in HCM City yesterday.

Võ Tân Thành, director of the Việt Nam Chamber of Co妹妹erce and Industry’s HCM City branch, said: “In the context of fossil energy sources like coal and oil and gas increasingly depleting, Việt Nam is focused on developing renewable energy sources.”

It has also “put in place policies to encourage investment in clean energy,” he told the Korea-Việt Nam Power and Renewable Energy Forum.

Việt Nam has great potential in renewables, but investment in them remains modest, he said.

S Korea, VN up green power ties

Kim Seoung Su, Korea Energy Agency’s department manager, said many countries have increased production of renewable energy to reduce carbon emissions.

South Korea has implemented progra妹妹es for the development of renewable energy, he said, adding that green energy accounted for more than  七 per cent of the country’s electricity output in  二0 一 六.

The Việt Nam Energy Association (VEA) said energy demand in Việt Nam had been surging year after year.

Hydropower and thermal power remain the main options, accounting for  三 三. 六 per cent and  五 九. 七 per cent of the country’s total electricity output in  二0 一 五, while renewable energy accounted for  五. 一 per cent.

Nguyễn Văn Vy, VEA deputy chairman, said Việt Nam’s Renewable Energy Development Strategy expects renewables (including hydropower) to account for  三 二 per cent of total power generation in  二0 三0 and  四 三 per cent in  二0 五0, when carbon emissions would be cut by  四 五 per cent.

He also spoke about incentives offered to encourage investment in renewables (wind, solar, and biomass) and renewable energy projects included in the Government’s zoning plans.

The power sector will continue to upgrade electricity networks to ease the overload and adopt smart grid technologies to serve consumers better.

South Korea was one of the pioneers in developing smart grids that help cut energy losses among others.

With its technological prowess South Korea could help Việt Nam develop its electricity sector, according to the Korea Electric Power Corporation.

In recent years many Korean firms have entered Việt Nam’s electricity market in many forms, including by investing in power plants and producing and supplying electrical equipment.

Enhancing international co-operation for developing renewables is one of the important measures for helping Việt Nam achieve its renewable energy development targets, delegates said.

South Korean Minister of Trade, Industry and Energy Paik Ungyu said that on the same day he met his Vietnamese counterpart, Trần Tuấn Anh, to discuss co-operation based on mutual benefit.

“We will enhance co-operation in the energy sector, renewable energy and smart grid.

“In addition, to help develop Việt Nam’s electricity industry, we will promote human resource training progra妹妹es and step up technology transfer.”

The forum enabled businesses from the two countries to exchange information and seek closer co-operation, he said.

Việt Nam is South Korea’s fourth largest trade partner while South Korea is Việt Nam’s largest foreign investor and second largest trade partner. — VNS