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GE Energy Ecosystem to help Vietnam meet 2030 power targets

Released at: 09:12, 28/04/2017

GE Energy Ecosystem to help Vietnam meet 2030 power targets

Photo: Duy Anh

Energy ecosystem introduced at Power Vietnam conference on April 27 in Hanoi.

by Duy Anh

The GE Energy Ecosystem portfolio was unveiled on April 27 at the Powering Vietnam conference held in Hanoi, resonating interconnected systems of digital and industrial technologies with the country’s energy agenda to deliver affordable, reliable, and more sustainable production, distribution, and consumption of energy.

“We chose Vietnam to be the first country to launch the Energy Ecosystem portfolio because it is one of the most energy-hungry nations in the world and open to new ideas and solutions to provide stable, reliable, and sustainable power,” Chairman and CEO of GE ASEAN, Mr. Wouter Van Wersch, told the conference.

“Some of the most innovative programs available today are showcased in the ‘ecosystem’, and many have been developed with customers across the entire energy landscape,” he went on. “This is a strength that GE has developed globally and we look forward to helping more customers in Vietnam, and other markets, achieve their energy goals in the future.”

Highlights of the Powering Vietnam conference included panel discussions and presentations from GE business leaders on opportunities in gas, steam, and renewable energy, and how power services partnerships, new grid technologies, and digital industrial solutions can advance Vietnam’s energy modernization plans.

Insights and opinions were also provided by local sector experts and energy representatives from the Vietnam Institute of Energy, the Department of Science, Education, Natural Resources and Environment, the World Bank, and the United Nations Development Program, among others. They shared power development ideas and best practices with more than 200 of Vietnam’s leading industry stakeholders from the government and the private sector. Many discussions focused on new solutions to help Vietnam produce more sustainable power to meet rising demand, which is predicted to grow at an average of 10.5 per cent annually during 2016-2020 and 8 per cent annually during 2021-2030.

As Vietnam’s power industry is undergoing unprecedented transformation, navigating it requires a full understanding across the entire energy ecosystem. Electricity consumption is projected to reach 234.6 terawatt-hours (TWh) in 2020 and 506.0 TWh by 2030 - a fourfold increase by 2030 compared with consumption in 2014.

The country’s near-term energy plans were outlined by Mr. Phuong Hoang Kim, Deputy Director of the General Directorate of Energy under the Ministry of Industry and Trade, during his welcoming remarks. “The goals set out in our revised National Power Master Plan VII are designed to boost energy security, diversify our energy mix, attract new investment, and ensure environmental benchmarks are met,” he explained.

“Fossil fuel and thermal power remain the major energy sources in the context of Vietnam’s economic development growing at around 7 per cent per annum to 2030. The high cost of renewable energy is still the greatest barrier for Vietnam.”

Discussions on the digital industrial transformation covered the increasing use of advanced software, analytics, and low-cost sensing converging with the industrial internet to reveal the hidden power of big data that seamlessly connects the ecosystem. Best practice was also shared on how digital power plant can help increase asset performance, enhance operations, and improve energy trading decisions to create additional revenue and cost reduction opportunities.

Mr. Pham Hong Son, CEO of GE Vietnam, said that conference attendees particularly enjoyed the chance to listen and learn more about energy solutions and project financing. “There were enthusiastic discussions on a wide range of important topics, from analysis of the world’s most efficient renewable power solutions today to industry modernization programs driven by advanced digital industrial solutions,” he said.

Decentralization was another important topic, where speakers discussed the shift from power generation towards generation closer to the point of consumption. There was also strong interest in the latest lower or non-emitting CO2 energy producing technologies to help developing markets like Vietnam upgrade aging infrastructure to save costs and meet emissions standards.

“As Vietnam is poised to ramp-up the development of energy infrastructure in the next five to ten years, there was great interest in financing options offered by GE, including early stage capital formation and access to third party capital and from export credit agencies, development financing institutions, and other institutions,” Mr. Son added.

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