Japanese renewable energy conglomerate Erex has announced that it has begun the construction of two 50-MW biomass power plants in Vietnam. In its announcement, the firm held that the construction has already begun on 4 October and the projects are coming up in the Yen Bai and Tuyen Quang provinces in northern Vietnam.
Erex mentioned that each plant will generate 50MW of electricity and consume approximately 500,000 tons of wood residue annually, sourced locally. Both facilities are expected to be operationalised by Erex by mid-2027.
The projects are supported by Japan’s subsidy scheme, which funds initiatives that can contribute to the Joint Crediting Mechanism (JCM) aimed at reducing greenhouse gas emissions. The estimated construction cost for each plant is between $100 million and $120 million, according to Erex.
Moreover, Erex plans to launch its first biomass power plant in Vietnam, a 20MW facility in Hau Giang, in December. The company aims to expand its operations by building up to 19 biomass plants and 20 wood pellet factories in Vietnam by the mid-2030s.
Erex is also developing biomass projects in Cambodia, with plans to build up to five power plants there. The company expects rapid growth in profits from its ventures in Vietnam and Cambodia, projecting that these operations will account for over 70% of its total profits by around 2030.
With regards to furthering green energy in Vietnam, Shanghai SUS Environment Co. Ltd. has also revealed that it has officially signed an EPC contract with POWERCHINA and Bamboo Capital Group (BCG) for the development of Tam Sinh Nghia waste-to-energy project in Ho Chi Minh City.
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