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Hefty price for more power
The Viet Nam power sector needs US$4-5 billion over the next 10 years to develop its infrastructure construction to meet increasing demand, according to the Ministry of Industry and Trade.
The demand would increase by 15-20 per cent each year due to the growth of national economy, industrialisation and modernisation.
The electricity sector requirement was part of a total capital of $8-10 billion required in the next 10 years to developing the infrastructure of all power sectors, including coal, oil and gas, the ministry said.
Loans from international financial organisations and State capital met just 30 per cent of the total $8-10 billion, the ministry said.
To meet demand for funds in 2008-10, the State had focused on calling for foreign direct investment into the energy sector infrastructure projects.
The project with potential for foreign investors included power plants; development of power from other energy sources such as wind, sun, biomass, hot land; development of alternative energy sources and production and use of technologies of biofuel
Biomass, as a renewable energy source, refers to living and recently dead biological material. Biofuel is solid, liquid or gaseous fuel obtained from lifeless or living biological material.
Developments would also take place in the reservation and saving of energy; technologies of exploiting and processing coal; exploration, exploitation, processingand services of oil and gas; and development of oil refinery plants to reduce petrol and oil imports.
In the power sector, besides Electricity of Viet Nam power plants, the Prime Minister had required some domestic investors, who were able to gather investors and build hydro-power and thermo-power plants, to contribute to the development of power to meet present demand.
They included the Viet Nam Coal and Mineral Industries Group, the Viet Nam National Oil and Gas Group, the Song Da Corporation and the Viet Nam Machinery Installation Corporation.
The ministry said the nation would add more electric projects operating under the mode of independent power production, including Mong Duong, O Mon, Nghi Son and Nhon Trach, based on experiences on developing other independent projects such as Phu My 3, Phu My 2.2 and Hiep Phuoc.
The Viet Nam Coal and Mineral Industries Group said it has boosted its investment in the electric industry, especially thermo-power.
The group expected to put Son Dong and Cam Pha 1 thermo-power plants into operation at the end of the third quarter or early fourth quarter of this year to increase national capacity.
Its Dong Nai 5 hydro-power plant and Phu Quoc thermo-power plant were setting up investment and building projects.
The Viet Nam National Oil and Gas Group has set up its Coal Investment, Trading and Import-Export Company based in HCM City to provide coal for its five thermo-power plants with a total capacity of 6,000MW.
The group has set up plans to buy shares or co-operate with foreign partners to exploit coal in Indonesia and Australia.
With oil and gas exploration and exploitation contracts in five continents in the world, the group said, it would expand searching of coal source which could provide fuel for its projects for a long term.
VNS
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