Showing posts with label renewable. Show all posts
Showing posts with label renewable. Show all posts

Wednesday, February 2, 2011

South Korea unveils huge clean energy investment plan

SEOUL - South Korea Wednesday unveiled a five-year plan to spend US$36 billion developing renewable energy as its next economic growth engine.

The plan, approved at a meeting chaired by President Lee Myung-Bak, aims to transform South Korea into one of the world's five top players in renewable energy.

South Korea will spend about 40 trillion won -- seven trillion won in state money and 33 trillion won from private businesses -- on new renewable energy projects by 2015, the Ministry of Knowledge Economy said.

It hopes to export renewable energy worth 36.2 billion dollars in 2015.

The ministry predicts the global market for renewable energy will grow rapidly from 162 billion dollars last year to an estimated 400 billion dollars in 2015.

Asia's fourth largest economy, which imports almost all its oil, has tried to cut dependence on fossil fuels and diversify energy sources.

In addition to the 40 trillion won, the ministry said the government will spend nine trillion won to build an offshore wind farm in the Yellow Sea by 2019, generating 2.5 gigawatts per hour of electricity.

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S.Korea unveils huge clean energy investment plan

SEOUL - South Korea Wednesday unveiled a five-year plan to spend US$36 billion developing renewable energy as its next economic growth engine.

The plan, approved at a meeting chaired by President Lee Myung-Bak, aims to transform South Korea into one of the world's five top players in renewable energy.

South Korea will spend about 40 trillion won -- seven trillion won in state money and 33 trillion won from private businesses -- on new renewable energy projects by 2015, the Ministry of Knowledge Economy said.

It hopes to export renewable energy worth 36.2 billion dollars in 2015.

The ministry predicts the global market for renewable energy will grow rapidly from 162 billion dollars last year to an estimated 400 billion dollars in 2015.

Asia's fourth largest economy, which imports almost all its oil, has tried to cut dependence on fossil fuels and diversify energy sources.

In addition to the 40 trillion won, the ministry said the government will spend nine trillion won to build an offshore wind farm in the Yellow Sea by 2019, generating 2.5 gigawatts per hour of electricity.

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Thursday, October 21, 2010

Finland wants to develop clean technologies in Vietnam

Do Duy Phi (L), president and CEO of Vietnam National Chemical Group, with Tomas Forsgard, vice president of Kemira Company from Finland, at the signing of a memorandum of understanding for developing new chemicals to treat industrial wastewater in Vietnam - Photo: Van Nam
HCMC – A delegation representing 15 Finnish enterprises said here on Tuesday they wanted to look for local partners to develop renewable energy, wastewater treatment, industrial waste management and other environmental technologies.

Some of the Finnish companies introduced their clean technologies at a seminar held here on Tuesday were Neste Oil Corporation, Cargotec, GD Power, Kemira, Fincumet, YIT and Outotec.

“We identify Vietnam as a key market in Southeast Asia and want to have direct partners in developing our innovative clean technologies to address Vietnam’s energy and environmental challenges,” said Santtu Hulkkonen, executive director of Cleantech Finland who represented the Finnish delegation.

He told the seminar that the clean-tech sector in Finland included some 2,000 enterprises operating in energy efficiency, clean industrial processes, renewable energy, and waste management and treatment.

Janne Mielck, vice president of the New Ventures of the Neste Oil Corporation, told the Daily on the sidelines of the seminar that his corporation was seeking suppliers from Vietnam for producing environmentally friendly diesel.

Neste Oil is a refining and marketing corporation specializing in low-emission technologies, especially high-quality oil products for vehicles. 

“By the end of this year, we will open a plant producing renewable diesels in Singapore with an annual capacity of 800,000 tons, so we are here to seek partners for supplying raw materials such as vegetable oil and non-edible oil for our plant in Singapore,” said Janne Mielck. He added his company expected to buy some 100,000 tons per year from Vietnam.

Huynh Kim Tuoc, director of the HCMC Energy Conservation Center, told the seminar that “Vietnam targets renewable energy to account for 7% of the total energy  supply by 2020 and up to 11% by 2050 compared to less than 3% now.”

“While the hydropower source as an important renewable energy of the country has been fully tapped, Vietnam should urgently exploit other renewable sources such as wind power, solar power, and other bio-fuels,” he said.

Tuoc added that Finnish enterprises with good technologies could definitely find a lot of opportunities to develop projects of solar energy around the country.

Besides, Tuoc also encouraged Finnish enterprises to invest in wind power projects, including the manufacturing of equipment for wind power plants.

According to the city’s energy conservation center, it has become very urgent for Vietnam to develop renewable energy as power shortage is a big worry for all economic sectors.

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Saturday, August 28, 2010

Scandinavia funds Mekong region energy efficiency

windfarm

Finland and the Nordic Development Fund will provide 7.9 million euros ($10 million) to Vietnam, Cambodia, Laos, and Thailand to promote renewable energy, energy efficiency, and clean technologies under the aegis of the Energy and Environment Partnership Program for the Mekong region.

A memorandum of understanding was signed by the Vietnamese Ministry of Industry and Trade and the Finnish Ministry of Foreign Affairs in Hanoi Monday.

The EPP seeks to increase availability of and access to renewable energy (RE) services and renewable energy technology (RET) in rural areas, focusing on rural poor women and ethnic minorities.

It also aims at development of and investment in RE and RET, improving knowledge and tools to support RE projects, mapping out related policies and legislative framework, and promoting access to information and funds for RE and RET development.

It is expected to combat climate change while providing sustainable energy services to those who lack them.

EEP will fund projects by public entities, companies, research institutions, universities, and civil social organizations.

NDF is a development agency set up by the Nordic countries -- Denmark, Finland, Iceland, Norway and Sweden – that, in cooperation with other development agencies, grants financing for climate change interventions in developing countries.

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