News and Updates

BCPG Plc, the power generation arm of energy conglomerate Bangchak Corporation, is preparing to spend more than 32 billion baht next year to fund investments in Thailand and overseas, paving the way for greater use of clean energy.

The amount is 10 times more than the company's capital spending in 2023, which totalled 3.2 billion baht.

"We plan to allocate 18.7 billion baht of the 2025 budget for new investment projects," said Niwat Adirek, president and chief executive of BCPG.

Among the investments are solar and wind farms in Laos and Vietnam.

In Thailand, the company plans to invest in projects to sell electricity to the manufacturing sector.

BCPG announced earlier it was expanding in Southeast Asia, with the latest move to acquire shares worth 4.5 billion baht in two wind farms with combined electricity generation capacity of 99 megawatts in Vietnam.

The two wind power projects, both located in Gia Lai province in central Vietnam, represent the second asset the company has acquired after investing in a wind farm in Laos.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: Bangkok Post

Prime Minister Phạm Minh Chính asked the Vietnam Oil and Gas Group (Petrovietnam) to accelerate technology transfer for wind turbine and blade production by 2026, ultimately achieving full technology mastery for offshore wind energy development.

Noting that Petrovietnam Technical Services Corporation's (PTSC) total offshore wind energy contract value has amounted to approximately US$2 billion, securing employment through 2029, he said the milestone underscored Petrovietnam's transformation into an energy corporation that extends beyond traditional oil and gas development to encompass the renewable energy sector such as wind power and offshore electricity generation.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' .  

**Photo credit: VNA/VNS Photo.

A delegation from Viet Nam’s Ministry of Science and Technology, led by Deputy Minister Hoang Minh, along with representatives from the project Clean, Affordable, and Secure Energy for Southeast Asia (CASE) of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), engaged in in-depth discussions with partners in Germany and France on energy technology innovation.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' .

**Photo credit: CASE

The “Clean, Affordable and Secure Energy for Southeast Asia” (CASE) project, funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK), collaborated with Vietnam Electricity (EVN) and the Hoan Kiem District People’s Committee to co-organize the awareness-raising event “Clean Energy – Green Earth” in the pedestrian zone around Hoan Kiem Lake. 

The Vietnam Low Emission Energy Program (V-LEEP), funded by the United States Agency for International Development (USAID), is designed to assist the Government of Vietnam (GVN) in establishing an effective policy, regulatory, and incentive environment for low-emission growth in the energy sector, while simultaneously attracting public- and private sector investment in renewable energy development and industrial energy efficiency.

The Vietnam Low Emission Energy Programme II (V-LEEP II), which is worth US$36 million and funded by the US Agency for International Development (USAID), was kicked off in Hà Nội late last week.  

Prime Minister Pham Minh Chinh has laid stress on the need to complete the resolution of obstacles for renewable projects by February 2025 to prevent wastefulness, contributing to ensuring electricity for development.

Chairing a hybrid conference on announcing and implementing the Government’s resolution on removing bottlenecks for the projects on December 12, the PM underscored that to achieve the country's targeted 8% economic growth in 2025, position itself for potential double-digit growth in 2026-2030, and enter a new era – the era of the nation’s rise, Vietnam must capitalise on all resources, including renewable energy infrastructure.

He called on the energy sector to ensure that electricity generation grows 1.5 times faster than economic growth, which means an annual growth rate of at least 12%.

With investments in renewable energy projects totaling more than 308 trillion VND (13 billion USD), delays in putting projects into operation waste immense social resources, he said, stressing while past implementation errors must be handled, it is a must to facilitate project continuation.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: VNA

Vietnam’s National Assembly has approved a revised Electricity Law focusing on fair pricing, renewable energy oversight, and a phased roadmap to eliminate cross-subsidies.

The revised Electricity Law, approved by the National Assembly on November 30, introduces significant updates to Vietnam’s energy policy, including a phased approach to ending cross-subsidies in electricity pricing. The law will take effect on February 1, 2025.

The revised law encompasses six main areas: power planning and development; renewable and new energy sources; conditions for electricity operations, including licensing and revocation; electricity trading activities; system management and operation; and safety standards for electricity use and hydropower dams.

One of the law's notable provisions addresses the elimination of cross-subsidies in electricity pricing. The Standing Committee of the National Assembly emphasized the importance of reducing and eventually eliminating cross-subsidies between customer groups and regions to create a more equitable pricing structure.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: Vietnam National Assembly