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PM receives UK Enterprize Energy Group President to visit and invest in Vietnam

11:13 | 01/10/2020

On September 30, Prime Minister Nguyen Xuan Phuc received UK Minister of State for Trade Policy Greg Hands and President of Enterprize Energy Group Ian Raymond Hatton who are on a visit to Vietnam to promote an offshore wind power project in Binh Thuan.

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pm receives uk enterprize energy group president to visit and invest in vietnam
Vietnam and UK delegation at the reception. (Photo: VNA)

Prime Minister Nguyen Xuan Phuc welcomed UK Minister of State for Trade Policy Greg Hands, President of Enterprize Energy Group Ian Raymond Hatton, and the UK delegation to visit and work in Vietnam. He announced that he had previously worked with the UK Secretary of State for Foreign, Commonwealth, and Development Affairs on different issues, including energy cooperation.

The PM highly appreciated the efforts of Mr. Greg Hands to promote bilateral cooperation. He applauded Mr. Ian Hatton's personal experience in the field of energy cooperation, as well as the capacity of the Investor Organization (which includes international renowned groups and firms).

According to the UK Minister of State for Trade Policy Greg Hands, the UK has experience in developing renewable energy such as wind power, solar power... Currently, the UK has the largest offshore wind power capacity in the world due to the determination of the British Government and the efforts of businesses. Mr. Greg Hands believes that if this wind power project is successful in Vietnam, it will greatly contribute to the development of Vietnam.

Mr. Ian Hatton stated that the Enterprize Energy Group is working closely and actively with the People's Committee of Binh Thuan and Vietnamese partners to implement the project. The Group highly appreciates the wind power potential of Vietnam. He said that when this project gets into operation, it will greatly reduce CO2 emissions. It is estimated that the Group will invest $ 12 billion in the project life cycle, 50% of which is invested in the Vietnamese economy. If the Government encourages the development of this project, the Group's wind turbine manufacturers will come to Vietnam to invest in the production of equipment.

pm receives uk enterprize energy group president to visit and invest in vietnam
Prime Minister Nguyen Xuan Phuc (R) receives UK Secretary of State for Foreign, Commonwealth and Development Affairs and First Secretary of State Dominic Raab. (Photo: VN Explorer)

According to Ian Hatton, the Group plans to use electricity from the project to electrolyze seawater, helping to solve the problem of transmission and production of liquefied hydrogen gas and ammonia. It is predicted that green ammonia gas will be widely used in the transportation industry. The British Government strongly supports the implementation of this project in Vietnam.

Hatton proposed to the Government and the Prime Minister to add this wind power project to the Power Plan 8 to start generating electricity by the end of 2025. By 2028, the entire project shall be put in operation. He hoped the Government of Vietnam considers this project as one of Vietnam's typical energy projects.

The Prime Minister welcomed the investment idea of Enterprize Energy Group, applauded the Group's intention to invest in the construction of transmission grids for the project, and the idea of electrolyzing seawater to manufacture new products.

Regarding the policy, the Prime Minister said that the Government of Vietnam always creates favorable conditions for foreign investors to invest in Vietnam. However, since this is the first large-scale wind energy project to be proposed in Vietnam, it is unavoidable to problems arising in the process of applying for approval and implementation. Therefore, he urged investors to work closely with local authorities to solve procedure problems and promote the project. He also took this occasion to express his hope the investors shall cooperate with Vietnam in the field of oil, gas, and wind power equipment manufacturing

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