Japanese energy firm Erex invests in Yen Bai biomass power plant
VOV.VN - The northern mountainous province of Yen Bai has permitted Erex, a leading Japanese company for renewable energy, to pour between US$100-120 million into a biomass power plant in the Vietnamese locality.
Tran Huy Tuan, head of the Yen Bai provincial administration, handed over the administration’s approved investment decision to Hitoshi Honna, representative director and president of Erex, at a ceremony in Tokyo on May 8.
The power plant, to be built at Bac Van Yen Industrial Park complex, goes with the locality’s planning, socio-economic development orientation and priority areas to attract investment, as well as in accordance with the national strategy on green growth and Vietnam’s net zero emissions commitment by 2050, said Tuan.
This is also the first power project to be granted investment policy after Vietnam’s Power Plan VIII was approved recently, he added.
He requested Erex to undertake the project on time so that the power plant would soon be put into operation to contribute to local socio-economic development.
Yen Bai is committed to supporting the investor in implementing the project toward a win-win goal, he stressed.
Honna for his part unveiled that the power plant will be built on an area of 10ha with a total investment of between US$100-120 million. This project has also received support from the Japanese Ministry of the Environment as part of the Financing Programme for the Joint Crediting Mechanism (JCM) Model Projects.
Once completed in early 2027, the plant is designed to generate 50 MW, of which about 45 MW will be supplied to Electricity of Vietnam’s power transmission system. The plant will use about 500,000 tonnes of scraps and wood by-products as fuels a year.
The Yen Bai plant is Erex’s second biomass power plant project in Vietnam following the first getting underway in Hau Giang, southern Vietnam. The 20MW Hau Giang plant is scheduled to be put into operation later this year.
