At the signing ceremony (Photo: VNA)
The Ministry of Industry and Trade has allowed the EVN to receive a non-refundable aid package worth over 755,000 USD from the USTDA to implement the project, which is expected to give an overall assessment of current issues with Vietnam’s power system, including its stability and operational status.
Under the Government-approved national renewable energy development strategy through 2030 with a vision to 2050, Vietnam will utilise about 6,000MW of solar energy by 2025 and 12,000MW by 2030.
According to EVN Chairman Duong Quang Thanh, Vietnam should fully prepare the technical standards for its power system, as well as relevant regulations and operational procedures to make the most efficient use of new energy resources.
The US’ experience in energy storage will be valuable for Vietnam as well as for future cooperation between the two countries’ energy industries, he said.
More specifically, the USTDA’s technical assistance will help Vietnam’s power system address difficulties in the development of renewable energy in times ahead, he added.
US Ambassador to Vietnam Daniel Kritenbrink said the planning and preparation of the project is important in creating the foundations for sustainable and high-quality energy.
The agreement aims to support the EVN in conducting feasible research for the development of energy storage, thus helping improve the stability of the power network and address the energy supply-demand imbalance in the northern and southern regions of Vietnam, he said.
The USTDA and the US Embassy pledged to cooperate with Vietnam to meet the country’s increasing demand for energy, including the development of modern power transmission technology, diversification of energy resources, and improvement of energy infrastructure, he added.
In the past, through the US Embassy and the USTDA, the EVN has received technical support from their research to build an information technology development roadmap for the National Power Transmission Corporation signed in 2013 and the Central Power Corporation in 2016.
The two sides have also developed smart electricity networks and improved the efficiency of power plants and liquefied natural gas (LNG) usage technology. –VNA