The Electricity of Vietnam（EVN）and the Japanese JERA Company signed a Memorandum of Understanding（MOU）on cooperation towards decarbonization with ammonia and hydrogen co-burning technology.
To realize carbon-neutral roadmap by 2050, Vietnam will not develop coal power plants after 2030. However, the increased power consumption makes this Vietnam's biggest power company harder to fulfill its goal.
Tran Dinh Nhan, EVN's General Director, said that the company is looking for solutions to improve efficiency and reduce CO2 emissions for existing coal power plants. And at the same time, EVN needs to convert to using biomass fuels by co-burning the ammonia and hydrogen, consider the applicability of carbon capture and storage in Vietnam.
Under the limitation of experience, finances and resources on technologies, EVN hopes JERA will continue supporting sustainable development of Vietnam's electricity industry. According to the MOU, EVN and JERA agreed to
1.developing a roadmap to decarbonize coal-fired power plants.
2.establishing the overall de-carbonization plan for EVN.
3.researching and applying de-carbonization and ammonia and hydrogen co-burning technologies for EVN existing coal-fired power plants
Vietnam has great potential of renewable energy which attracts foreign investment. The Asian Development Bank（ADB）loaned $13.8 million to support the installation of the rooftop solar system this September, which marks the first time of ADB to finance commercial and industrial segment for that kind of solar equipment.
McKinsey commented that Vietnam is the most naturally suited country in Southeast Asia to develop wind and solar energy, with the technical potential of 1,000 GW. Partly because many manufacturers are avoiding investing solely in China by diversifying into neighboring countries to mitigate geopolitical risk, including into Vietnam.
McKinsey estimates that more renewable energy company would invest Vietnam if the projects are consistently economically viable and regulatory constraints loosen.