VBF Power & Energy Working Group

THE NEW ELECTRICITY LAW TAKES EFFECT IN FEBRUARY 2025 🎉👏⚡ ✅ This afternoon, with 439 out of 463 NA deputies voting in favor (accounting for 91.65%), the NA passed the #Electricity_Law (revision). ✅ The 2024 Electricity Law replaces the 2004 Electricity Law, which was revised four times—in 2012, 2018, 2022, and 2023 (with the latest revision taking effect on July 1, 2024)—after nearly 20 years of implementation. The 2024 Electricity Law will come into effect on 🚨February 1, 2025🚨. 👉👉 Read more: https://lnkd.in/g4i2rWeZ #pewg_update #pewg_Electricity_Law

MOIT SIGNED CIRCULAR ON INVESTOR SELECTION FOR ENERGY INFRASTRUCTURE PROJECTS ⚡📢✅ 🟧 On November 21, the #MOIT Vice Minister Long signed Circular 27/2024/TT-BCT, which outlines the criteria for reviewing tender dossiers and provides templates for tender dossiers in #investor_selection to implement energy infrastructure projects 🟧 Circular 27 serves as a guideline for implementing Decree 115/2024/ND-CP guiding the implementation of the Tender Law on investor selection for land-use projects. The Circular includes key #highlights as follows: 👉👉 Guiding Clause 2, Article 49 of Decree 115/2024/ND-CP, focusing on criteria for reviewing the #investment_efficiency of projects in terms of supporting the development of sectors, industries, and localities within the energy field. 👉👉 Guiding Point m, Clause 1, Article 47 of Decree 115/2024/ND-CP, addressing #technical_criteria for reviewing the proposed investment and business plans for energy infrastructure projects. 👉👉 Standardized #templates for tender dossiers used in investor selection for energy infrastructure projects. ➡️➡️ Circular 27/2024/TT-BCT: https://lnkd.in/gJuYj-bA #pewg_update #pewg_investor_selection

Building on our past work, this year, VBF Power & Energy Working Group is collaborating with The Asia Foundation (TAF) on a project funded by the The Global Energy Alliance for People and Planet (GEAPP) to produce a series of research papers investigating barriers to private sector investment in clean energy. The three research papers focus on 1️⃣ tender mechanisms for investor selection in renewable energy projects, 2️⃣ de-risking renewable solutions for energy projects, and 3️⃣ national competitiveness in attracting clean foreign direct investment. Therefore, we would like to invite you to the Consultation Workshop on these draft research papers and look forward to an open and interactive discussion with you 👇👇👇 👉👉 Register by 🚨December 02, 2024🚨 to join the Workshop: https://lnkd.in/g-bZtfYE

MOIT CONFERENCE ON IMPLEMENTATION OF DPPA, RTS DECREES & DECREE 115 IN CAN THO ⚡️💡👨🏻💻 🟧 On November 22, the #MOIT organized the Conference on the implementation of the #DPPA Decree, the #RTS Decree and Decree 115 guiding the Tender Law on #investor_selection for land-use projects. 🟧 #MOIT Vice Minister Hoai shared that forecasts indicate that in the coming years, Vietnam's electricity demand will grow significantly as the economy recovers. The risk of an electricity supply-demand imbalance is real if localities, regions, and the entire country do not urgently collaborate to accelerate the investment and development of power projects, especially #renewable_energy projects. He urged local authorities to take the initiative in directing and mobilizing resources, establishing monitoring systems, and closely coordinating with organizations and businesses to effectively implement new mechanisms and policies. 👉👉 Read more: https://lnkd.in/gdyQFmMX #pewg_update #pewg_DPPA_implementation #pewg_RTS #pewg_investor_selection

PECC2 SIGNED MOU WITH H&M FOR COOPERATION UNDER THE DPPA MECHANISM 🤝⚡🌟 ✳️ On November 19, H&M Vietnam signed a MOU with #EVN_PECC2 to collaborate cooperation under the #DPPA mechanism. ✳️ This milestone marks a significant step for PECC2, as it represents their first DPPA cooperation #MOU with a major global fashion brand. The partnership will enable H&M to access #clean_electricity at competitive rates. With a mission to advance the transition to clean and sustainable energy, EVN PECC2 has been actively developing renewable energy projects to supply green power to large enterprises like H&M through the DPPA mechanism, opening up opportunities for customers to engage in renewable energy collaboration. 👉👉 Read more: https://lnkd.in/gZxc6baK #pewg_update #pewg_DPPA_implementation

PV POWER PURCHASED THE FIRST LNG SHIPMENT FOR THE COMMISSIONING OF NHON TRACH 3 & 4 POWER PLANTS 🛢️🚢🤝 🟧 On November 19, PV GAS and #PV_Power signed the contract for the first #LNG shipment to supply for the commissioning of Nhon Trach 3 and Nhon Trach 4 power plants. 🟧 According to the plan, the Nhon Trach 3 Power Plant is expected to achieve #first_fire test by the end of December 2024 and is scheduled to be handed over to the investor for commercial operations in June 2025, while the Nhon Trach 4 Power Plant will begin commercial operations in September 2025. Once fully operational, the project will contribute over 9-12 billion kWh of electricity output annually to the grid. 👉👉 Read more: https://lnkd.in/gtjbA-wb #pewg_update #pewg_LNG_power_plant

EVN MEETING WITH WORLD BANK ON DRAFT POLICY REPORT FOR VIETNAM'S POWER SECTOR ⚡🤝💡 🟧 On November 4, Vietnam Electricity Deputy General Director Nguyen Tai Anh met with the The World Bank Group delegation on the Draft Policy Report for Vietnam’s Power Sector, including analysis, evaluation of the economic and financial impacts of the green transition for the power sector, and #policy_recommendations developed by the World Bank. 🟧 During the meeting, the World Bank shared some key information from the report, including a preliminary assessment of the financial situation of the Vietnam Electricity and aspects related to capital mobilization for implementing PDP8. This analysis was conducted by World Bank experts based on publicly available information. 👉👉 Read more on the meeting: https://lnkd.in/gYfcpZWj 🟧 Recently, on November 22, the World Bank released the report on "Vietnam: Recommendations to the National Roadmap and Action Plan for the Electric Mobility Transition", which provides a roadmap for achieving the country’s ambitious goals, which include raising the share of urban vehicles powered by electricity or green energy to 50%, and the share of urban buses and taxis to 100% by 2030 and increasing the share of all road vehicles powered by electricity or green energy to 100% by 2050. 👉👉 World Bank report on Vietnam: Recommendations to the National Roadmap and Action Plan for the Electric Mobility Transition: https://lnkd.in/gpa-3JcP #pewg_update #pewg_power_sector

PEWG SHARED INTERNATIONAL EXPERIENCES ON RENEWABLE ENERGY DEVELOPMENT ⚡📝🤝 🟧 On November 15, the VBF Power & Energy Working Group was invited to the Working Session between the NA's Foreign Affairs Committee, the NA's Committee on Science, Technology and Environment and the Embassy of Denmark in Vietnam on Contributions to the Draft Electricity Law (revision) to implement international commitments on energy transition in Vietnam. PEWG Steering Committee members, John Rockhold, Stuart Livesey, and Virginia B. Foote, attended the session. 🟧 PEWG Head John Rockhold expressed his appreciation to the Drafting Committee of the Electricity Law (revision), noting that many of the WG's comments have been incorporated into Draft 6. He also congratulated Vietnam on its impressive achievements in the power sector and shared insights from the Nordic countries’ experiences in developing renewable energy. Furthermore, he emphasized that his aim is not to propose a fixed course of action for Vietnam, as there is no one-size-fits-all solution. Instead, the purpose of examining international best practices is to help guide Vietnam in crafting strategies that effectively address its unique challenges and goals in the energy transition. 👉👉 Read more: https://lnkd.in/ghKKRABs #pewg_update #pewg_Electricity_Law

🇺🇸 - 🇻🇳 ENERGY SECURITY DIALOGUE ⚡💪🤝 🟧 As the U.S. and Vietnam look towards celebrating 30 years of normalized relations in 2025, the State Department’s Bureau of Energy Resources (ENR) and MOIT Vice Minister Long Nguyen Hoang, PhD led the 5th annual U.S.-Vietnam Energy Security Dialogue on November 15 in Washington, DC. 🟧 The two sides discussed key areas for continued bilateral #energy_cooperation, including #power_market development, energy conservation and #energy_efficiency, transmission, power storage, rare earth elements and critical mineral supply chains, and the steps necessary for an #energy_transition that will achieve net-zero emissions by 2050. 👉👉 Read more: https://lnkd.in/gKTjrjtq #pewg_update #pewg_energy_security

MOIT MEETING ON POWER SUPPLY IN 2025 ⚡💪📈 🟧 On November 14, #MOIT Minister chaired an internal meeting on the #power_supply situation in 2025 with the participation of several MOIT Departments, EVN, PVN, TKV, EVN NPT, PV Gas, etc. 🟧 The year 2025 is approaching, with the goal of achieving #high_economic_growth, striving for an increase of 8-9%; from 2026 onward, aiming for even higher growth, the demand for electricity from businesses, citizens, and the entire economy will be significant. 🟧 In 2025, the power supply must ensure growth of 11% or more. Accordingly, #MOIT_Minister has approved 3 power supply scenarios for 2025, as follows: 👉👉 Scenario 1 (#Baseline Scenario): Electricity output growth must reach 11-12%, with at least 13% growth during the dry months. 👉👉 Scenario 2 (#High Scenario): Electricity output growth of 12-13% or more, with at least 14% growth during the dry months. 👉👉 Scenario 3 (#Extreme Scenario): Electricity output growth of 14-15% or more, with at least 16% growth during the dry months. 👉👉 Read more: https://lnkd.in/g8J2wUgz #pewg_update #pewg_power_supply