SGC Energy, a green energy solution provider in South Korea, will work with a Vietnamese power engineering consulting firm to carry out projects to convert coal power plants into biomass-based generating facilities, it announced on 15 March.
The partnership was made followed by Vietnam’s state project to phase out coal power generation which accounts for 40% of the country's total power supply.
SGC Energy said the company has partnered with the Vietnam-based PECC1 for the conversion business. While the South Korean eco-friendly company will be in charge of the operation and management of the power plant, its Vietnamese partner will carry out business feasibility studies.
The project also involves SGC eTEC E&C, a South Korean construction firm that will be responsible for construction and procurement.
"Because Vietnam has high capacity and advanced power facilities, and a steadily growing power market, the nation is regarded as an emerging energy market," an unnamed SGC Energy was quoted as saying. By 2030, the South East Asian country aims to expand the capacity of renewable energy to 39 gigawatts.
PECC1 has conducted large-scale projects in South East Asia including Vietnam, Laos, and Cambodia. The company's 54% stake is owned by Vietnam's top power company called Vietnam Electricity.
Vietnam’s coal-powered plants to become biomass-fuelled
