Marubeni Corporation will foster its investment in renewable energy, biomass, and hydrogen project to support Vietnam in achieving decarbonisation.
|Marubeni to foster investment in green energy projects in Vietnam |
The company has signed a memorandum of understanding (MoU) on mutual collaboration with EVN to develop its green energy projects.
The two parties will jointly study a wide range of decarbonisation projects, including the carbon emission reduction of existing thermal power plants in Vietnam and the development of renewable energy and sustainable green energy such as biomass, ammonia, and hydrogen.
|Marubeni is the first company to sign an MOU with EVN focusing on decarbonisation. Together, the two companies will work to achieve decarbonisation in Vietnam’s power sector. |
Marubeni is the first company to sign an MOU with EVN focusing on decarbonisation. Together, the two companies will work to achieve decarbonisation in Vietnam’s power sector.
The Vietnam Government set the goal of achieving net zero greenhouse gas emissions by 2050. In addition, Marubeni has established the Marubeni Long-Term Vision on Climate Change as of March 2021 and highlighted green strategy as one of its main policies to increase corporate value in its Mid-Term Management Strategy.
Based on this MOU, Marubeni will drive the decarbonisation process of its corporate group forward and enhance its green strategy and is committed to contributing to the achievement of carbon neutrality in Vietnam.
In Vietnam, Marubeni has been involved in constructing and operating 11 thermal projects since the 1970s and started a business to supply renewable energy to commercial and industrial customers in 2021.
Besides, the corporation and Tokyo Gas joined forces with Petrovietnam Power and local machine manufacturer Colavi to establish a joint venture company Quang Ninh LNG Power JSC on a $2.2 billion LNG-to-power project in the northern province of Quang Ninh.
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More Japanese investors are actively entering Vietnam's renewable energy market to satisfy increasing energy demand.
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The joint venture of PV Power, Colavi, Tokyo Gas, and Marubeni is behind schedule for the completion of the $2 billion Quang Ninh liquefied natural gas (LNG) power plant.