Mitsubishi Power Sees Potential in Vietnam's Renewable Energy Boom
Key Ideas
- Mitsubishi Power Asia Pacific's CEO praises Vietnam's LNG use for energy transition and suggests enhancing grid infrastructure and regional alliances.
- Vietnam's economic stability supports renewable energy growth, with a focus on solar and offshore wind power, but grid stability challenges exist.
- Mitsubishi's technology can significantly reduce carbon emissions and improve efficiency, with plans for hydrogen co-firing and coal co-firing technology.
- Vietnam aims for net-zero emissions by 2050, requiring strengthened grid infrastructure, international partnerships, and substantial investments.
Vietnam's renewable energy sector is experiencing significant growth, attracting the attention of Japanese companies like Mitsubishi Power Asia Pacific. Akihiro Ondo, the company's Managing Director and CEO, commended Vietnam's decision to use liquefied natural gas (LNG) as a transitional fuel for its energy transformation. He emphasized the importance of strengthening the country's power grid interconnections and fostering closer collaboration within multinational alliances such as the Asia Zero Emissions Community (AZEC) to fully harness the potential of Vietnam's expanding energy market. With Vietnam's stable economic development, Ondo sees favorable conditions for the advancement of renewable energies like solar and offshore wind power, despite challenges related to grid stability resulting from the intermittent nature of renewables. Mitsubishi's gas turbine combined cycle (GTCC) technology stands out for its significant efficiency improvements and carbon emissions reduction compared to coal-fired plants. Ondo highlighted the potential of Mitsubishi's gas-hydrogen co-firing technology, aiming to achieve a 100% hydrogen ratio by 2030. Additionally, Mitsubishi is working on technology to co-fire coal with ammonia or biomass to reduce carbon intensity. Vietnam's commitment to achieving net-zero emissions by 2050 necessitates enhanced grid infrastructure and international cooperation, aligning with Ondo's calls for substantial investments and government support. The collaboration with Japan through the Asia Zero Emissions Community (AZEC) underscores the importance of global partnerships in driving the energy transition.
Topics
Asia
Renewable Energy
Technology
Investment
Energy Transition
Sustainable Development
International Cooperation
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