In recent years, the world has seen the pouring USD200 billion of capital on renewable energy. Investing in wi...
In recent years, the world has seen the pouring USD200 billion of capital on renewable energy. Investing in wind power is sustainable whereas investing in solar power is increasing dramatically. Up to day, solar power industry is focused on majority markets such as: Europe, China, Japan, USA, etc. and it is supposed to be promoted all its potential in the future.
In Vietnam, the renewable energy is mainly relied on hydro power. Forecasting by 2025, Vietnam is needed to invest USD74 billion into power plans in order to meet the doubled demand of energy usage, Vietnam Government committed to increase the productivity of power up to 14% each year in the 2015 – 2030 period.
Aiming to become the leading enterprise in green energy industry by 2020, TTC’s energy is enhancing partnership, connecting comprehensively with global financial institutes as well as domestic ones, developing dramatically and deeply to make sure the sustainable development orientation and national energy security. In June 30th, 2017 in Ho Chi Minh city, TTC Group will host The TTC Renewable Energy Roadshow with the participation of over 150 guests who are representatives from the trusted organizations, such as: International Finance Corporation (IFC), Armstrong Clean Energy Fund (Armstrong Asset Management – AAM), Sharp Corporation (Japan), the well-known international banks (HSBC, ANZ, Standard Chartered, Mizuho, Sumitomo Mitsui, etc.) as well as the big domestic banks (Vietcombank, Vietinbank, OCB, BIDV, etc.), the subsidiaries of TTC Group: Gia Lai Electricity JSC (GEC), Thanh Thanh Cong Tay Ninh Sugarcane JSC (TTCS), Thanh Thanh Cong Industrial Zone (TTCIZ), Nuoc Trong Sugar JSC, etc.
The conference will bring the overview of renewable energy, analyze the clean energy trend currently and the strategy of extending the operating scale, developing based on global standards of TTC’s Energy Segment. TTC’s Energy Segment, with GEC is the core enterprise, is concentrating to leverage in investing the clean energy and implementing wind and solar power projects in some potential locals besides investing in hydro power.
Mr. Yasushi Ujioka, the AAM’s representative and member of the GEC’s Board of Management, said that the total capacity of renewable energy in ASEAN is currently about 4 GW, accounting for 0.5% of the world. The total capacity of renewable energy in ASEAN still remains below 10% of generating capacity. ASEAN sets an ambitious target of increasing this rate up to 23% by 2025, and other members also reach the aim of 11% – 30% by 2030.
By 2020, TTC plans to reach a capacity of 1,000MW of solar power, 40MW of wind power – accounting for 73% of total TTC’s Energy segment, the rest are 222MW of hydro power and 150MW of thermal power, accounting for 16% and 11% respectively. Solar power has been developed under the form of investing new projects, while wind power has been developed with the forms of investing new projects and contributing over 51% of investment capital.
According to Mr. Thai Van Chuyen, CEO of TTC Group, TTC has planned to deploy 20 solar power projects in Tay Ninh Province (324MW), Binh Thuan Province (300MW), Ninh Thuan Province (300MW), Hue Province (30MW), Gia Lai Province(49MW), etc. The maximum investment rate is USD 880.000/MW, IRR is from 15%, and the payback period is less than 12 years. These projects will be started in the fourth quarter of 2017; The experienced strategic partner - AAM, having been doing many solar power projects in Asia, will be in charged in the technical work. The projects have been deployed by the form of EPC bidding. TTC Group contributes 30% of capital, the rest is raised from banks and financial institutions.
At the meeting, the leaders of TTC Group's Energy and strategic partners discussed the capacity, enthusiasm and orientation of the parties about the development plan in wind power and solar power.
With the expectation of utilizing the resources effectively, optimizing the added values for shareholders, customers, employees and creating the green energy for community, and developing with the orientation of environmental protection, TTC Group believes that the solar power and wind power plans will bring the new look for Vietnamese energy industry. It can be said that increasing the operating scale, development following the international standards are the fundamental solution for Vietnamese energy industry readily to meet the opportunities and overcome the challenges in the coming time.