Deputy Prime Minister Tran Hong Ha (Right) met with Wartsila's CEO Hakan Agnevall on Mar. 12. (Photo: VGP)
Vietnam's National Power Development Plan 8 (PDP8) places "flexible power resources" on the national energy structure for the first time. It is expected to reach 300 MW by 2030, and targets 30,900 - 46,200 MW by 2050. The market potential attracting investment from Finnish major developer, Wartsila.
During a meeting with Vietnam's Deputy Prime Minister Tran Hong Ha on the 12th, Wartsila's CEO Hakan Agnevall mentioned that the group was working with local partners for the first "flexible power plant" in Vietnam. The initial will involve using Liquefied Natural Gas (LNG) for power generation, with plans to transition to Hydrogen in the future with planned installed capacity of 300 MW which intending to get all allocated quotas by the government.
According to Wartsila's official website, the flexible power plant utilizes Internal Combustion Engines (ICE) with flexible operation capabilities. It can connect to the grid within 30 seconds after starting with just a button and reach peak load within 2 minutes, ensuring rapid and stable power transmission when the proportion of wind and solar power resources increases in the future.
(Photo: Wartsila Group's website)
Wartsila provides maritime and energy emission reduction technology solutions, operating in over 180 countries worldwide. They have installed over 5,000 power plants comprising a total of 12,000 ICE units, with a total installed capacity of up to 79 GW.
When the power plant in Ninh Binh Province is completed, it will feature 17 ICE units and is expected to be the largest in the history of the Wartsila Group.
During the meeting, the Vice Premier of Vietnam reminded Wartsila to consider costs based on the local market and consumer conditions. He also expressed interest in developing green hydrogen, green ammonia, and offshore wind power for export and welcome foreign investors to build renewable energy equipment and the Direct Power Purchase Agreement (DPPA) mechanism.
