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Thanh, the owner of an energy firm in Hanoi with previous experience in hydroelectric investment, spoke of his confidence when putting money toward a solar power plant in late 2018, which was promptly licensed and entered into a power purchase agreement (PPA).
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NDO/VNA – Deputy Prime Minister Trinh Dinh Dung hosted a reception in Hanoi on December 20 for Regional Director of the World Bank (WB)’s Infrastructure Department in the East Asia and Pacific Region Ranjit Lamech and WB Country Director in Vietnam Ousmane Dion. |
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The Deputy PM thanked them for providing active and important support for Vietnam via policy consultation, official development assistance, and technical support in infrastructure, especially in energy over the past years. Since 1995, the WB has assisted the Vietnamese power sector in 12 projects on power grid development in rural areas, electricity transmission and distribution with the total loan of nearly 3.92 billion USD, he said. According to him, Vietnam needs to supply nearly 8,000MW of electricity on average each year, which requires an annual capital of US$ 9-10 billion. |
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The Governing Council of the Global Infrastructure Facility (GIF) has approved a fund US$ 1.5 million for supporting the World Bank (WB) and the Vietnamese Government to implement the Solar Pilot Auction Program.
According to The GIF in coordination with the Energy Department of WB will help Vietnam to design and build the Auction Program to transition from feet in tariff (FIT) mechanism to a sustainable competitive auction scheme for SPPs that will create a favorable environment for the private sector to participate in the renewable energy development.
The WB Country Director for Vietnam Osmane Dione said that WB is closely working with the Vietnamese Government to bring more private resources to energy sector where the financial needs are huge and urgent.
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Plans for a greener and deeper Singapore were unveiled by the Urban Redevelopment Authority (URA) at a Draft Master Plan exhibition in March.
The plans include a new 50km Greater Rustic Coast running along the northern coast, as well as district-level underground projects.
The Master Plan is a statutory land-use plan that guides Singapore’s development in the next 10 to 15 years, and is reviewed every five years.
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Singapore’s Puma Energy, the retail and midstream arm of global commodities trader Trafigura, said yesterday it would sell its Australian commercial and retail fuels business to Chevron Australia for A$425 million (S$396 million).
The sale by the company, which is 49 per cent owned by Geneva-based Trafigura, comes amid increasing pressure to rebalance its books after a decade-long buying spree.
Last month, sources familiar with the sale told Reuters the firm would accept a hefty discount to what it paid and that the assets would likely fetch no more than US$500 million, which they said would be a sharp drop in price.
Puma entered the Australian market in 2013 with the purchase of Ausfuel, Neumann and Central Combined Group assets. Media reports at the time said it paid around US$850 million for the Ausfuel and Neumann assets.
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[SINGAPORE] Pavilion Energy Singapore and a unit of French oil major Total said on Friday they have signed a 10-year deal to develop a liquefied natural gas (LNG) bunker supply chain in the port of Singapore.
The binding agreement between Pavilion, which is owned by Singapore’s Temasek Holdings, and Total Marine Fuels Global Solutions follows an initial non-binding one in June last year.
The cooperation includes the shared long-term use of the newly built 12,000 cubic metre GTT Mark III LNG bunker vessel that will allow each party to supply LNG bunker to its customers.
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VIENTIANE (Vientiane Times/ANN) – The government is holding a special meeting to establish common ground among state agencies about ways to ensure effective implementation of the national development plan for 2020.
Prime Minister Thongloun Sisoulith presided over the opening of the two-day open government meeting at the National Convention Centre, which is scheduled to end today.
Cabinet members, the mayor of Vientiane, provincial governors, representatives of the Party and National Assembly (NA), the courts, prosecution organisations, and the Lao Front for National Development attended the meeting.
ASEAN Centre for Energy (ACE) is an intergovernmental organisation within ASEAN structure that represents the 10 ASEAN Member States’ (AMS) interests in the energy sector.
