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  • Renewables
18 October 2019

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  • Philippines

MANILA, Philippines — Russian Ambassador to the Philippines Igor Khovaev said Moscow is ready to lend the Philippines assistance in exploring the possibility of nuclear energy should it tender a request.

“I would like to emphasize that it’s up to you Filipinos to decide whether you’ll use sophisticated nuclear technology or not,” he said Thursday in an interview with CNN Philippines where he highlighted the safety and sophistication accompanying their Russian technology.

[W]e are ready to discuss any option of cooperation, we are ready to offer our sophisticated nuclear technologies, we are ready to help you build nuclear power plants, including the floating nuclear barges.”

The ambassador gave assurance that nuclear facilities built by Moscow in some 30 countries are functioning with no reported incidents yet.

“By the way, [the] Chernobyl Power Station is located in Ukraine, not in Russia,” he added.

Constitutionality concerns

Malacañang said the country’s “intention to jointly explore the prospects of cooperation in the construction of nuclear power plants” was among the business deals signed during President Rodrigo Duterte’s visit to Russia collectively worth $12.6 million.

In a related statement, Russian President Vladimir Putin said his country is interested in “promoting industrial cooperation and joint projects in the peaceful use of nuclear energy.”

But according to Malacañang, a nuclear energy deal between the two states is still “uncertain” due to the issue of constitutionality.

Even the president himself has admitted that he has apprehensions toward the project as it would be against the 1987 Constitution, which declares in Article II Section 8 that the country “adopts and pursues a policy of freedom from nuclear weapons in its territory.”

“The Constitution would not like it. That is why I have to talk to the Cabinet. I cannot affirm or deny that because that’s part of the proposals,” the president told reporters upon his return last October 6.

In a statement dated Nov. 12, 2000 at the Conference on Facilitating the Entry into Force of the Comprehensive Nuclear-Test-Ban Treaty, Filipino diplomat Enrique Manalo said, “From this basic policy emanates the following Philippine goals: maintaining a stable and peaceful international and regional environment; promoting the creation of a non-nuclear weapons world, and ensuring the country’s protection from the threat or use of weapons of mass destruction by other countries.”

Duterte in a 2017 phone call with US President Donald Trump expressed fear over the presence of North Korean warheads in the region.

“As long as those rockets and warheads are in the hands of Kim Jong Un, we will never be safe as there’s no telling what will happen next,” the chief executive said.

Other possibilities 

Of this particular front in the two countries’ cooperation, Khovaev said he believes a partnership should not strictly limit itself to only nuclear technology.

“Russia is an energy superpower so we are ready to supply energy resources to your country and to be a new reliable partner, a new reliable supplier of energy resources to your growing economy,” he said.

“It will help you increase the competitiveness of your economy.”

Aside from energy, Moscow also offered to assist Manila in its fight against terrorism. At the start of their earlier meeting in early October, Putin reiterated to Duterte that Russia was prepared to provide assistance in countering terrorism as well, recalling that Duterte had once cut short his first trip to the country in 2017 amid the siege of Marawi City.

The five-month battle in Marawi left around 160 soldiers and 1,000 terrorists dead in its aftermath, with the initial wave of martial law declared immediately after the breakout of the siege.

The commander in chief’s 2019 midterm report said that although the Islamic center was successfully liberated in October, “the threat of other rebel and terror groups remained.” For Malacañang, this justified the continued extensions of military rule on the island.

Today, exactly two years and a day after the end of the siege, the city, along with the rest of Mindanao, lies suspended in martial law after having been extended thrice from 2017 to December 2019. It is expected to remain that way until the end of the year.

“You can expect the help and assistance of any kind. We are ready to supply our sophisticated arms and weapons. We are ready to help you in staff training, we are ready to share our experience, we have quite rich experience how to fight terrorism,” Khovaev said.

“We are ready to help your country to develop your own defense industry and we also share special specified info in this aspect,” he added.

A foolish idea

A fisherfolk’s federation on October 9, however, cautioned the public against what they said was a “foolish” idea. Pamalakaya National Chairperson Fernando Hicap said the Philippines is vulnerable to earthquakes and typhoons, making nuclear energy impractical.

Citing a hazard map by the UN Office for the Coordination of Humanitarian Affairs, Pamalakaya said the country’s positioning on the Pacific Ring of Fire leaves it vulnerable to earthquakes “predominantly at Degree VII to XII of the modified Mercalli Scale on earthquake intensity.”

“Dumi nga ng tao hindi na-secure ng MWSS at umabot pa sa Manila Bay, radioactive water pa,” Hicap, former Anakpawis party-list representative, said.

“Ibang bansa nga tulad ng Japan, namo-mroblema kung saan itatapon ang nakakalasong tubig mula sa Fukushima nuclear power plant, tayo pang wala ngang sariling industriya. Kaya tigilan na yang kalokohan na iyan.”

(The Metropolitan Waterworks and Sewerage System cannot even secure human waste, which ends up in Manila Bay, what more radioactive water? Other countries like Japan are having problems on how to dispose of the poisonous water from the Fukushima nuclear power plant, what more a country like ours that does not have its own industries? So, forget that foolishness.)

Under the Mercalli scale, Intensity VII earthquakes are classified as “very strong” while XII earthquakes are “extreme.”

“Mga malalakas na bagyo nga ay hindi pa nakaka-rekober ang mga mamamayan dahil inutil ang gubyerno sa rehabilitasyon, iyan pang nuclear-nuclear na iyan ang inaatupag nila,” Hicap said.

(The people have not even recovered from strong typhoons because the government is failing at rehabilitation, and they’re looking at nuclear power instead.)

The Bataan Nuclear Power Plant, completed in the early 1980s, has never been commissioned due to fears raised by a nearby fault line, the project’s integrity, and the 1979 Three Mile Island as well as the 1986 Chernobyl nuclear accidents.

‘Us against the world’

Presidential spokesperson Salvador Panelo in a Facebook statement noted that the progress in Philippines-Russia relations came “after [Duterte] sought the rebalancing of traditional partnerships and the deepening of relations with non-traditional partners at the onset of his administration.”

“[T]here are three of us against the world —  China, Philippines and Russia. It’s the only way,” Duterte was quoted as saying in 2016 in China, marking a complete reversal in foreign policy since he took office.

Talks surrounding the prospect of nuclear energy are one of many diplomatic moves the two countries have made together as of late, with both countries being members of the Asia-Pacific Economic Cooperation.

“I invite all Filipinos, please go to Russia, discover my country,” Khovaev said in the same interview. “My country is much, much different from those aggressive Russian guys, as portrayed in Hollywood movies.”

Besides their strides made in the fields of economic, security and space-research relations, further cooperation with Russian space agency Roscosmos is also expected after Manila recently signed into law the creation of a consolidated Philippine Space Agency.

Putin himself has affirmed the country’s ties with Manila, saying, “I would like to highlight that the Philippines is a very important partner of Russia in Asia.” Putin called their cooperation “constructive and mutually beneficial” during their meeting.

“We Russians and Filipinos have a lot in common. We have the conditions to be good friends and partners,” Khovaev ended.

  • Energy Economy
18 October 2019

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  • Singapore

SINGAPORE’S Temasek Holdings is considering setting up a new unit to house renewable power projects as it increasingly eyes energy investments outside of fossil fuels.

While the S$313 billion state investor remains open to looking at coal and oil deals, the rising volatility of commodity prices combined with society’s shift toward sustainability means it’s not as attractive a space anymore, said Nagi Hamiyeh, the investment group joint head of Temasek International.

“Now that most of these renewables have reached grid parity, we believe that these make much more sense for us to invest in, more than fossil fuels,” Mr Hamiyeh said, referring to the stage at which such assets’ output makes them as cheap as other forms of energy. He added that Temasek sees natural gas as a relatively clean energy source.

Temasek’s investment thesis and stance on environmental, social and corporate governance issues mirrors many other large global investors that now actively favour sustainable deals. Last week, sources said Temasek had decided against investing in Saudi Aramco’s IPO, in part over environmental concerns.

One historic detraction of renewables has been the returns. Oil and gas-drilling projects have traditionally offered higher returns to offset the exploration risks involved. Renewable projects, meanwhile, tend to follow a low-risk, low-reward model pioneered by utilities.

Mr Hamiyeh said Temasek was prepared to invest in greenfield projects – this would mean taking on the risk the projects fail because they can’t sign off-take agreements or receive government approval.

“If you don’t want to be in an area whereby it’s single-digit returns, it has to be a mix,” Mr Hamiyeh noted. “The real alpha generation is going to be in greenfield.”

Because Temasek doesn’t want to build renewable energy projects on its own, Mr Hamiyeh said two options are under consideration.

The first would be finding a partner who would be the operator with Temasek’s financial backing; the second would be finding a team of experts and building a platform around them. That’s a method the state investor employed in 2013 with the formation of Pavilion Energy Pte, which has one of two licences to import liquefied natural gas into Singapore and plans to become a global LNG trader.

“To me, these would be the only two ways to get to a scale and to be able to justify the risk-adjusted returns we’ll get out of it,” Mr Hamiyeh explained, declining to say how much money Temasek will put into renewables or when it will make investment decisions.

To be sure, Temasek remains invested in companies like Keppel Corp, a builder of oil and gas rigs, and FTS International Inc. The US shale fracking firm has seen its market value plunge over the past 18 months amid concerns over its high leverage and challenging industry operating conditions.

Mr Hamiyeh said Temasek frequently shares its prognosis of the fossil fuel market with its partners, but doesn’t dictate to portfolio companies how they should run their businesses. “When you look at increasing eco-conscious solutions, for example, we think they’re going to create trillions of dollars of business opportunities in the next couple of decades,” he added, which could include everything from meat alternatives to green energy. “We want to be part of it.” BLOOMBERG

  • Renewables
18 October 2019

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  • Thailand

ADB will in green bonds of Energy Absolute to help support long-term financing for the 260MW wind farm

ADB

Image: ADB to support Thai renewable energy company with $98m loan. Photo: Courtesy of Energy Absolute.

The Asian Development Bank (ADB) has announced that it will invest THB3bn ($98.7m) in green bonds of Energy Absolute to help support long-term financing for 260MW Hanuman wind farm in Thailand.

By investing in the bonds, ADB will contribute to Thailand’s renewable energy objectives and its ongoing efforts to reduce carbon emissions.

With a total of THB10bn ($330m), the bond issuance is claimed to be the second Climate Bonds Standard-certified bond issued by a Thai energy company and the first green bond for a wind power project in Thailand.

The proceeds from the bonds will be used for funding new or existing projects that deliver environmental or climate-related benefits.

The agreement was signed in Bangkok by ADB private sector operations department deputy director general Christopher Thieme and Energy Absolute deputy CEO Amorn Sapthaweekul.

Thieme said: “Thailand has ample renewable energy resources and its green and climate bond market has tremendous potential.

“This maiden green bond issuance by Energy Absolute will contribute to the evolution of that market, while supporting the clean energy ambitions of Thailand’s Power Development Plan by underpinning the growth of wind power generation.”

Hanuman wind farm is expected to offset 200,000 tonnes of carbons emissions

The Hanuman wind farm is located in northeastern Chaiyaphum Province and is expected to offset 200,000 tonnes of carbon emissions annually next year.

In 2017, Siemens Gamesa was selected to supply 103 of its G126-2.5MW turbines for the wind farm.

Renewable energy sources in Thailand are expected to contribute 15% to 20% of the country’s total energy production by 2036, up from the present 10%.

Sapthaweekul said: “The green bond issuance benefits our company through lower cost of financing and demonstrates our strong commitment to sustainable development including environmental and social dimensions.

“After the success of the 260 MW Hanuman Wind Project, we took another significant step to become a more value-added business by focusing more on patent development and innovation in clean energy and related industries including energy storage systems, electric vehicles (EV) and EV charging stations, and electric ferries.

“We are also preparing to launch an energy trading platform, which we have studied and developed through our own technology and innovation. This platform will play a major role in demand-side management for energy efficiency.”

Established in 2006, Energy Absolute is now one of the largest renewable energy companies in Thailand. The company has an installed capacity of 644MW that include four solar and two wind power plants.

  • Others
18 October 2019

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  • Vietnam

Vietnam offers a massive opportunity for North American natural gas producers, power generators and LNG transportation and infrastructure, asserts Roger Conrad, editor of Conrad’s Utility Investor.

Starting from zero, the country expects to ramp up LNG imports to 10 million tons by 2030, while natural gas generating capacity more than doubles from 9 to 19 GW by 2030.

AES Corp (AES) recently won Vietnamese regulators’ approval to build a 2.2-gigawatt natural gas-fired power plant in the south-central province of Binh Thuan. Slated for service in 2024 under a 20-year government contract, it will be fueled by the company’s 450 Tera BTU capacity LNG import and storage terminal, which enters service in 2022.

More from Roger Conrad: Contrarian Call in Emerging Market Utes

That same day, Vietnam’s Minister of Industry and Trade Mr. Tran Tuan Anh was guest of honor at an event hosted by the US-Asia Institute in Washington D.C. The subject: Similar blockbuster opportunities for US energy companies, as the southeast Asian nation electrifies its rapidly growing economy while controlling environmental risks.

That’s powerful incentive for US shale-rich LNG operators like Cheniere Energy Partners (CQP), Dominion Energy (D) and Sempra Energy (SRE) to forge long-term relationships. The same is true for the world’s largest LNG player Royal Dutch Shell (RDS.A), which is reportedly pursuing growth in Vietnam’s fuel distribution sector.

The country also expects to grow its wind and solar generating capacity even faster, by 7.5 and 41 times, respectively. AES Corp is one likely investor, though Vietnam is not now part of the 13 gigawatts of renewable energy capacity it expects to add globally through 2022.

The game in electricity will be winning long-term contracts to fuel a coming quantum leap in the country’s power intensity. That’s currently about 2,000 kilowatt hours per person per year, compared to developed countries’ 7,000.

Basic infrastructure is already in place, with 98 percent of Vietnam’s rural households connected to its power grid by 2016. What’s needed is investment in generation, smart grid, data capabilities and flexibility to absorb distributed solar as well as support electric vehicle infrastructure.

See also: Edwards Lifesciences: A Heart-Felt Breakout

AES’ American peers have largely sworn off global investing, with US revenue now accounting for 97 percent of sector revenue. That makes non-US utilities like Hong Kong’s CLP Holdings (CLPHY) more likely candidates to take the plunge.

There’s also an emerging opportunity in power sector restructuring as Vietnam adopts a model similar to the UK. T&D will remain a government monopoly, while generation and retail become competitive businesses. The country will also seek to attract global investment in retail and generation.

VanEck Vectors Vietnam ETF (VNM) invests at least 80 percent of its assets in the MVIS Vietnam Index, which holds the country’s 25 largest stocks. Those include PetroVietnam Power Corp, which focuses on coal-fired electricity and does not currently pay a dividend.

VanEck is underwater roughly 40 percent not including dividends since its mid-2009 launch. But it’s been a steady performer over the past year, in sharp contrast to most emerging market ETFs. That’s a good sign the Vietnamese market is maturing, even as its Trade Minister has declared the country open for business, especially in energy.

The best way for conservative investors to play is AES Corp, with its massive recent investment in power and LNG and the likelihood of more to come.

The stock also trades at half the earnings multiple of the Dow Jones Utility Average, has a highly visible path to 7 to 9 percent annual earnings and free cash flow growth through 2022 and this month achieved the first parent level investment grade credit metrics in its history. The stock’s a buy anytime it trades under 17.

  • Energy Cooperation
18 October 2019

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  • Myanmar

Maersk Drilling said on Friday that the drilling contract was for the Maersk Viking drillship. The contract is expected to start et 2019 end.  According to the drilling company, the 154-day contract is valued $33 million, including a mobilization fee. POSCO will have an option to extend the contract for one more well.

The Maersk Viking is a 7th generation ultra-deepwater drillship delivered in 2013. Maersk Viking recently completed a drilling campaign for Aker Energy in Ghana where it struck oil at the Deepwater Tano Cape Three Points block. According to Maersk Drilling, the Ghana campaign included a well drilled at an ultra-deepwater depth of 10,125 ft.

Commenting on the POSCO deal, Morten Kelstrup, COO of Maersk Drilling said: “We are very excited about having the opportunity to work together with the POSCO International Corporation and helping them achieve their goals. This campaign will enable us to showcase the nimbleness of our deepwater fleet, including the ability to move our floaters from one region to another and quickly start up new operations. We look forward to demonstrating the capabilities of our 7th generation drillships in the Asian-Pacific market.”

In related news, POSCO International, formerly known as POSCO Daewoo, has recently awarded the front end engineering design (FEED) contract for the Shwe Phase 3 gas field development, located offshore Myanmar.

DORIS Engineering in Paris, as HHI sub-contractor, has started the Phase 3 FEED Design Competition whose scope includes a new LP Compression Platform bridge-connected to the existing SHP (Drilling, Central Production & Accommodation Platform).

Earlier, in September, McDermott also received a front-end engineering design (FEED) contract for the Shwe Phase 3 gas field development in late September.

The contract is for the FEED services for a new compression platform, a bridge link, and modifications in the existing platform at the Shwe field.

  • Energy-Climate & Environment
17 October 2019

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  • Philippines

The Philippines has long been vulnerable to extreme weather. Based on the 2019 Global Climate Risk Index, the island nation is among the countries most affected by climate change. The Philippines has been hit with a series of violent storms and typhoons that have increased in severity over the past decades. On average, about 20 tropical cyclones enter Philippine waters each year, with eight or nine making landfall.

In a 2019 survey by YouGov, a global market research firm, the Philippines has the highest percentage of people in the region who believe that climate change will greatly affect human lives. At least 75 percent of Filipinos are convinced climate change is a serious problem. The survey also found that 62 percent of Filipinos hold the view that humanity is mainly responsible for the climate crisis.

“Beyond numbers and words”

In 2015, Greenpeace, the Philippine Rural Reconstruction Movement and 13 other environmental and community groups filed a petition that called for the devastation of extreme weather-related disasters to be properly recognised. The petition also looks to hold 47 fossil fuel companies worldwide, also known as the Carbon Majors, accountable for climate change. Highlighting Typhoon Haiyan that occurred in 2013 which killed more than 6,300 people, the petition stressed that the impacts of climate change are “beyond numbers and words.”

Climate expert, Richard Heede, who is a co-founder of the Climate Accountability Institute (CAI) said that fossil fuel companies contribute “the lion’s share of cumulative global CO2 and methane emissions since the industrial revolution.”

CAI recently revealed that 20 fossil fuel companies can be directly linked to more than one-third of all greenhouse gas emissions in the modern era. These 20 companies have contributed 35 percent of all energy-related CO2 and methane worldwide, totalling 480 billion tonnes of CO2 equivalent since 1965. Its researchers have tied the emissions from each company to the corresponding rise in global temperatures and sea-level rise.

In 2017, the Commission on Human Rights (CHR) of the Philippines agreed to investigate Greenpeace’s petition to determine whether the 47 cement, coal, oil and gas companies worldwide have collectively contributed to climate change and as a result violated Filipinos’ basic rights to life, water, food, sanitation and self-determination.

ASIANS CONVINCED CLIMATE CHANGE IS MAN-MADE
Source: YouGov, 2019

The Philippine’s legal investigation has become one of the biggest repositories of evidence on how the fossil fuel industry has misled the public on the impacts of climate change. The final Memorandum of the investigation was submitted to the CHR of the Philippines leading up to the Global Climate Strike event that happened last month in September.

Together with representatives from climate-impacted communities, Greenpeace activists protested at the entrance of the Batangas refinery of fossil fuels giant, Shell. The European oil company, is one of the 47 Carbon Majors which includes Exxon, BP and Chevron, that is being investigated in the case. The protest was a challenge to fossil fuel companies to show accountability for their role in the climate crisis, heed the call of climate-impacted communities for justice and start a rapid and just transition to phase out fossil fuels.

“Fossil fuel companies like Shell continue to rake in huge profits while the people and the planet suffer. But up to now, they are not held accountable for human rights violations resulting from the impacts of climate change. Shell needs to realise that business-as-usual isn’t an option anymore and that there is no future with fossil fuels,” said Desiree Llanos Dee, Greenpeace Philippines climate justice campaigner.

Turn-around

In 1997, John Browne, then chief executive of BP, the London-based oil company, said that the “possibility cannot be discounted” of a link between man-made carbon emissions and global warming. Many large oil companies no longer deny the connection between the burning of fossil fuels and climate change.

Shell’s chief climate change advisor, David Hone said that there is no doubt on the scientific evidence of climate change, “Fossil fuels, land-use change, and the manufacture of cement have contributed to the build-up of CO2 in the atmosphere.”

Many companies are also positioning themselves to be seen as part of the solution. For example, Shell, France’s Total and others are putting substantial funds into clean-energy investments. In a bid to reduce its carbon footprint, Shell’s Philippine subsidiary, Pilipinas Shell Petroleum Corporation has started work on an integrated energy system to harness solar energy, natural gas and a three megawatt per hour (MWh) battery storage system to power its 110,000 barrels-per-day oil refinery in Tabangao, Batangas City. According to Pilipinas Shell, this partly renewable energy project is expected to generate enough power for 850 homes or offset 8,760 tons of CO2 per year from refinery operations.

However, profits still rule. According to ActionAid, a global federation against poverty and injustices, Shell spends billions on oil and gas exploration each year, with current plans to invest just five percent of its budget in sustainable energy and 95 percent in exploiting fossil fuels.

“For decades, Shell has chosen to make big profits at the expense of the climate. Shell is deliberately obstructing the energy revolution that is so badly needed to prevent catastrophic climate change. We need to make sure that Shell takes responsibility for its actions and changes its destructive business model,” said Joris Thijssen, director of Greenpeace Netherlands.

Browne has since said that “it’s going to take us a long time to take oil and coal out of the energy system and even longer for natural gas.”

The Philippine’s investigation into the Carbon Majors is part of the recent wave of climate litigation cases worldwide. If successful, the investigation will result in the world’s first legal finding of corporate responsibility for climate change which will likely trigger other investigations and judicial actions around the world to hold fossil fuel companies accountable.

“Shell and other fossil fuel companies are part of prolonging this system of climate injustice. We want to change the system that stopped us from reaching our dreams and our right for a better future,” said Krishna Arriola from Youth for Climate Strike.

  • Energy Economy
17 October 2019

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  • Singapore

SINGAPORE (Reuters) – Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and energy firms manage price fluctuations as stricter global marine fuel rules kick in from 2020, it said.

New International Maritime Organization (IMO) regulations cutting the allowed sulfur content in shipping fuel to 0.5% from 3.5% in a bid to combat air pollution will apply from Jan. 1 next year.

The new contract aims to help the energy and shipping sectors to hedge risk in the relatively new market for 0.5% LSFO delivered marine fuels, or bunkers, the spokesman said.

“Risk management demand for delivered bunker LSFO prices has become more significant due to factors such as the uncertainty in LSFO specifications, and the disconnection between cargo and delivered prices,” said the spokesman.

The cash-settled, U.S. dollar-denominated LSFO futures contract will be for 10 tonnes of fuel oil, and will use the Argus Bunker Index (ABI) Singapore LSFO 0.5% as the settlement price, according to APEX and Argus company websites.

The Argus LSFO 0.5% index represents the price of bunker fuel delivered within 4-12 days of the trade date, for volumes between 500-3,000 tonnes, with viscosity of less than 380-centistoke (cst) and sulfur content below 0.5%.

The LSFO futures contract is APEX’s second fuel oil contract and follows the 380-cst high-sulfur fuel oil (HSFO) contracts it launched in April.

“Since the launch of the HSFO contract, we have been closely monitoring the demand and pain points of the market, and will continuously design new products and improve our services based on market’s feedback,” the spokesman said.

The new contract is expected to help users cope with the change in marine fuel regulation, he added.

Since its launch the APEX 380-cst HSFO contract has seen average daily trading volume of some 23,000 lots, representing 230,000 tonnes of fuel oil, and an average daily open interest of around 3,600 lots, or 36,000 tonnes, the spokesman said.

  • Bioenergy
17 October 2019

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  • Vietnam

HCM City (VNA) – The Tam Sinh Nghia Investment Development JSC on October 16 kicked off construction on a waste-to-energy plant with a daily capacity of 2,000 tonnes of waste at the Tay Bac Solid Waste Treatment Complex in Cu Chi district, Ho Chi Minh City.

To be built at a cost of 5 trillion VND (216.58 million USD), the plant, the second of its kind in Ho Chi Minh City, will generate 40 MW of electricity annually.

According to the company’s General Director Ngo Xuan Tiec, the plant will use German Martin Grade technology which is now available in 40 countries worldwide to generate electricity and produce recyclable by-products.

“This advanced technology helps reduce the volume of buried waste, reuse treated wastewater and effectively control odours.”

The first phase of the project is being built on an 8ha area in the 20ha facility run by the Tam Sinh Nghia Investment Development JSC.

Construction will take 18 months, and the plant will begin operation after a four-month trial period.

The plant’s second phase will be built on the remaining 12ha and it would increase the processing capacity to 3,000 tonnes of waste per day, he said.

Speaking at the groundbreaking ceremony, Chairman of the municipal People’s Committee Nguyen Thanh Phong, praised the company for acquiring the technology, saying the city is taking various measures to treat daily waste by modern technology to ensure environmental hygiene and make the best use of natural resources.

The city generates around 9,000 tonnes of solid waste daily, of which more than 72 percent is buried and the rest is burnt, recycled or used to produce fertilisers.

It aims to process 50 percent of the waste to produce electricity by next year.

“I hope waste treatment companies join hands with the city to achieve the target,” he said.

The People’s Committee approved the construction of three plants to generate electricity from waste using advanced technologies in August.

On August 28, construction on the first plant began at the Tay Bac Solid Waste Treatment Complex in Cu Chi. The 400 million USD plant is being built by Vietstar JSC, and in the first phase can process 2,000 tonnes per day.

Tasco Joint Stock Company is expected to begin construction of the third plant by the end of this year./.

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