Indian companies have advanced interest in participating in energy saving projects in Vietnam, which has huge demand for replacing inefficient power-consuming devices, the Dau Tu (Investment) newspaper reported, citing a recent workshop held in Ho Chi Minh City
Adesh Saxena, a representative from state-run Energy Efficiency Services Ltd. (EESL), expressed willingness to share information on energy saving initiatives and keenness to invest in Vietnam.
The firm could make investment in Vietnam in two formats. In the first format, EESL will invest in infrastructure and directly charge customers. In the second one, EESL will also invest in infrastructure, but will recover the investment through charging saved costs.
A representative from India’s D&D Group said that the group has established an office in Vietnam and is ready to cooperate with EESL to carry out energy efficiency projects.
Also in the energy sector, India’s Consul General in Ho Chi Minh City Smita Pant stated that India is poised to become one of the ten largest investors in Vietnam when Tata Power
implements the $2.1-billion Long Phu 2 thermal power project in the southern province of Soc Trang
A number of India enterprises are making fact-finding trips to several Vietnamese localities to prepare for investment in power projects, especially solar power, the consul general added.
Ho Chi Minh City, home to 145,000 high-voltage lighting sets, will be able to save half of the energy consumption if they are replaced with light-emitting diodes (LEDs), said Diep The Cuong from the city’s Energy Saving Center.
However, few investors have paid attention to this sector in Vietnam because of high costs, unclear mechanisms for capital recovery and a lack of criteria for power saving LEDs, Cuong noted.
The city has put forward proposed incentives to encourage investment in the energy saving sector, Cuong added.