South Korean company targets eco-friendly energy market in Vietnam

Doosan Group from South Korea has expressed interest in expanding its investment in eco-friendly energy in Vietnam as part of its future strategy. Doosan Enerbility has signed agreements with three companies that operate thermal power plants in Vietnam to promote an environmentally friendly fuel conversion project.

The signing ceremony took place during the recent state visit of South Korean President Suk Yeol to Vietnam. The firm has signed a memorandum of understanding (MoU) on energy collaboration with Nghi Son 2 Power Limited Liability Company to research carbon reduction solutions in electricity production, coal consumption, and greenhouse gas emissions.

The Vietnamese government has been actively promoting the transition to eco-friendly fuels, with a goal of achieving net zero carbon emissions by 2050. In 2020, coal accounted for about 30% of power plants’ capacity in Vietnam, but the sector is expected to have great potential in the future transition to clean energy.