20230522 The good, the bad and..
Vietnam’s PTSC to manufacture foundations for Asia’s large offshore wind project
Petrovietnam Technical Services Corporation (PTSC) on Friday cut a deal with Orsted, Denmark’s leading energy firm, to manufacture turbine foundations for the 920-MW Greater Changhua offshore wind farm in Taiwan, one of Asia’s largest offshore wind projects.
Under the deal, the Vietnamese firm will produce 33 suction bucket jacket foundations based on Orsted’s bespoke designs. They will be eco-friendly.
The foundations will be installed at the Greater Changhua 2b and 4 wind farms, which covers 185 square kilometers, in late 2025.
The project is estimated to consume 70,000 tons of steel and create thousands of jobs at PTSC and other contractors in the supply chain.
Oil and Gas Group: 'It is difficult to stop Phu My and Ca Mau Fertilizer plants to yield gas for electricity production.'
“The unplanned stop/reduce of gas supply to the Phu My and Ca Mau Fertilizer plants will have a great impact on production and business activities, generate many consequences for stakeholders and will depend on depends on the approval, goodwill, cooperation and sharing of the shareholders of the fertilizer plants.
In addition, stopping/reducing the natural gas of the fertilizer plants does not help much (nearly 1%) for the operating the national power system", PVN stated and commented: "The demand for natural gas for power generation is very necessary, especially in the dry season months from April to June every year".
Previously, in the face of a shortage of electricity in the peak season, EVN asked PVN, PetroVietnam Fertilizer and Chemical Corporation - JSC, Ca Mau Fertilizer Joint Stock Company to give priority to gas for power production in 2 peak months of dry season (May, June). In particular, in the immediate future, consider stopping the entire Ca Mau and Phu My fertilizer plants to make room for gas for power production from now until the end of May.
EVN proposes to extend coal payment
Vietnam Electricity (EVN) proposed Vietnam Coal-Mineral Group (TKV) and Northeast Corporation extend the coal payment date to ensure the electricity supply.
According to EVN, the unexpected increase in fuel prices and the cessation of power-generating activities have created numerous challenges for the company's business and finances as well as those of its member units. Due to this, the power supplier is experiencing a lack of cash flow for payment.
EVN also requested a 52,000-tonne coal loan from the Song Hau 1 Petroleum Power Project Management Board and the Vietnam Oil and Gas Group (PVN) for the extended Duyen Hai 3 and Duyen Hai 3 thermal power plants.
Good news: temporary tariff for 15 renewable power projects approved by the Ministry of Industry and Trade
According to the latest updated information as of May 19, 2023, out of 37 negotiation documents that the Investor has sent to EVN, there are 15 transitional wind and solar power plants with a total capacity of about 1,200 MW which have been approved by The Ministry of Industry and Trade on a temporary tariff (including 3 solar power plants, 7 onshore wind power plants and 5 offshore wind power plant).
In addition, 6 plants have been agreed by the Investor and EVN on a temporary tariff, which is expected to be completed and submitted to the Ministry of Industry and Trade next week.
Regarding the electricity price calculation method, 24 investors have agreed to apply the same cash flow discount method as guided in Circular No. 57/2020/TT-BCT dated December 31, 2020 of the Ministry of Industry and Trade.