As a province with a high industrial development rate, the annual electricity demand in Binh Duong increases by about 12%. In addition to investing and upgrading the electricity capacity to meet the demand for economic and social development, Binh Duong Province is encouraging businesses to use renewable energy for sustainable and green growth.
The Binh Duong Department of Industry and Trade announced the investment and development situation, supply and demand, and energy security on the province’s territory, including coal, oil, gas, hydroelectricity, and various types of renewable energy for project planning. Currently, the province has the Phuoc Hoa hydroelectric power plant (Phu Giao district) with a capacity of 12.5 MW; the Minh Tan hydroelectric power plant (Dau Tieng district) with a capacity of 5 MW. In addition, there is a power plant in the Vietnam-Singapore Industrial Park that uses DO and HFO oil with a capacity of 16 MW, a power plant using coal from Chanh Duong Paper Workshop Co., Ltd with a capacity of 60 MW, and a combined heat and power plant with a capacity of 3 MW that uses various sources of fuel such as paper waste, sewage sludge, coal, and other fuels with a consumption of 220 tons/day.
Binh Duong has a high average of sunshine hours per year, about 2,400 hours per year, which is evaluated as having good potential for developing solar power projects. According to the Department of Industry and Trade, the province has implemented the government’s policy of encouraging solar power development to investors, manufacturers, and businesses operating in the area to maximize the use of clean, renewable energy sources and contribute to improving efficiency and proactivity in electricity supply.
According to the Department of Industry and Trade, the province’s energy transition follows the general trend of the world toward green production, green products, and the use of renewable energy. However, there are difficulties and challenges in developing renewable energy, especially in terms of stability, cost, financial resources, transmission synchronization, technology, equipment, land use, water surface, and environmental protection. Currently, the price of electricity from renewable energy sources is higher than that from traditional thermal and hydroelectric sources. In addition, financial institutions and commercial banks are often not ready to lend to renewable energy investment projects.
The provincial Department of Industry and Trade also shared that to achieve the country’s general goal of carbon neutrality, in the coming period, the province will focus on developing green, clean, and renewable energy sources such as solar power, waste-to-energy, and hydroelectricity. Binh Duong has also proposed the need to continue renewing mechanisms, and policies, and developing a synchronized, modern, and efficient energy market; encouraging private economic participation in socialization, and promoting the strong development of renewable energy sources and biomass energy to maximize the replacement of depleting fossil fuel sources.