Finnish Corporation to Plan the First Flexible Power Project in Vietnam

On March 12, Deputy Prime Minister Tran Hong Ha held a reception with Finnish Ambassador to Vietnam Keijo Norvanto and Hakan Agnevall, President of Wartsila Energy Group.

At the reception, Deputy Prime Minister Tran Hong Ha highly appreciated the positive results of cooperation between Vietnam and Finland in the fields of sustainable development, namely circular economy, environmental protection, and clean energy.

Vietnam is currently a partner of Europe and G7 countries in fulfilling the commitment to reduce net greenhouse gas emissions to zero (net zero) as well as the Just Energy Transition Partnership (JETP).

According to Finnish Ambassador Keijo Norvanto, in recent times, Vietnam and Finland have had many effective cooperation projects and activities in sustainable development such as clean water supply, environmental sanitation, innovation, and forest planting. The two countries have entered the stage of exchanging technology and knowledge to develop in fields of mutual interest that require high technology.

Leader of Wartsila Energy Group presented to Vietnamese Deputy Prime Minister Tran Hong Ha on the flexible power project being researched and deployed in Vietnam (Photo: VGP).

At the reception, Hakan Agnevall, President of Wartsila Energy Group, reported to the Vietnamese Deputy Prime Minister about flexible power technology, combining gas power and renewable power sources, to ensure stability and balance for the power system while the proportion of wind power and solar power increased.

Wartsila Energy Group is working with Vietnamese partners to research and deploy the first flexible power project in Vietnam, using LNG and the future conversion to hydrogen, supporting the integration of renewable energy into the power system.

Deputy Prime Minister Tran Hong Ha emphasized that in the process of implementing JETP and fulfilling Net Zero commitment, Vietnam requires support from partners in technology, resources, and administration. The process of converting coal-fired power plants to gas power, combining power from renewable energy, is consistent with this process.

Regarding the Wartsila Group's flexible power project, the Deputy Prime Minister suggested that it is necessary to fully calculate infrastructure investment costs, gas purchase plans, power generation from accompanying renewable energy, transmission systems, production costs, etc. suitable for the Vietnamese market and consumers.

Deputy Prime Minister Tran Hong Ha also informed about policies to encourage and attract foreign investors to develop offshore wind power to produce green fuel such as green hydrogen, green ammonia, or direct export.

In addition, there is also a direct electricity trading mechanism where investors can ensure stability and balance of the power grid, participate in manufacturing renewable energy equipment, invest in waste electricity, etc.

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