HANOI - Vietnam's prime minister approved a long-awaited power plan for this decade that needs $134.7 billion (S$180 billion) of funding for new power plants and grids, the government said late on Monday (May 15), in a move that may help unlock billions of dollars of foreign investment. The plan, known as PDP8, is aimed at ensuring energy security for...
Power-generating windmill turbines are pictured at a wind park in Bac Lieu province, Vietnam, on July 8, 2017.HANOI - Vietnam's prime minister approved a long-awaited power plan for this decade that needs $134.7 billion of funding for new power plants and grids, the government said late on Monday , in a move that may help unlock billions of dollars of foreign investment.
Amid internal squabbles and work on complex reforms, the plan has been delayed for more than two years, and has seen a dozen of draft versions before the approval by Prime Minister Pham Minh Chinh, which now needs the formal green light from the rubber-stamp parliament, possibly this month, before its final adoption.
After the deal, negotiators have struggled for months to progress on preliminary work to allocate the funding, multiple officials told Reuters, as Vietnam officials maintained their reticence to accept loans, which are by far the biggest component of the promised public funds. To complete its transition to carbon-neutrality with total phase-out of coal by 2050, the government estimates it needs a whopping $658 billion, of which one-fifth would have to be disbursed this decade.The industry ministry, which prepared the document, said in a statement late on Monday that, under the plan, half of office buildings and homes in Vietnam would be powered by rooftop solar panels by 2030.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vietnam's PM approves US$135 billion power plan for 2030HANOI: Vietnam's prime minister approved a long-awaited power plan for this decade that needs US$134.7 billion of funding for new power plants and grids, the government said late on Monday
Read more »
Fencing: Singapore retains women's foil team SEA Games crown after beating VietnamPHNOM PENH: The Singapore women’s foil team beat Vietnam to retain their SEA Games title on Monday (May 15). The quartet of Cheung Kemei, Maxine Wong, Tiffany Seet and Tay Yu Ling beat Vietnam 45-23. This is the third consecutive time Singapore has won this event, having not rel
Read more »
SEA Games: S'pore fencers retain women’s foil team gold; six titles now in CambodiaPHNOM PENH – Singapore have matched their record haul of gold medals in fencing at the SEA Games, after retaining the women’s team foil gold medal on Monday in Cambodia. The quartet of Maxine Wong, Cheung Kemei, Tay Yu Ling and Tiffany Seet beat Vietnam 45-23 in the...
Read more »
South Korea lifts power prices by 5.3% in delayed moveSEOUL : South Korea said on Monday it will raise electricity prices by 5.3 per cent to partly reflect increased generation costs, a move delayed more than a month because of the likely effect on already high inflation and the cost of living. It is the second increase in power prices this year after a shar
Read more »
South Korea lifts power prices by 5.3% in delayed moveSEOUL : South Korea said on Monday it will raise electricity prices by 5.3 per cent to partly reflect increased generation costs, a move delayed more than a month because of the likely effect on already high inflation and the cost of living. It is the second increase in power prices this year after a shar
Read more »
Britain’s regulator warns power grid’s red tape is stifling climate pushIts goal of a decarbonised grid by 2035 is being undermined by the long wait time for new projects to connect to the electric grid. Read more at straitstimes.com.
Read more »