Vietnam encourages investment in power transition projects

Vietnam has encouraged and created favorable conditions for coal-to-gas power transition projects, Deputy Prime Minister Tran Hong Ha said while receiving Ambassador of Finland to Vietnam, H.E. Keijo Novaron, and President and CEO of Finland’s Wartsila Corporation Hakan Agnevall in Hanoi on March 12, the Vietnam News Agency has reported.

Deputy Prime Minister Ha spoke highly of the effective cooperation between Vietnam and Finland in the development of the circular economy, environmental protection, and clean energy.

Regarding the Wartsila Corporation’s flexible power project, he asked it to give full consideration to expenditure on infrastructure investment, gas purchases, power generation from renewable energy, and transmission systems, among other factors, making the project suitable for the Vietnamese market.

He also informed his guests of Vietnam’s policies on encouraging and attracting foreign investors to offshore wind power development, direct power purchases, renewable energy equipment manufacturing, and waste-to-energy projects.

Ambassador Novaron said Vietnam and Finland have worked together to promote sustainable development by cooperating in the fields of clean water supply, environmental hygiene, innovation, and afforestation.

Mr. Agnevall, meanwhile, reported that the corporation and its Vietnamese partner are working to carry out the first flexible power project in Vietnam.