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Solar power plants accelerate connection to grid to enjoy incentive

The current infrastructure of the power grid cannot meet the boom of power projects, especially solar power – PHOTO: COURTESY OF EVN

HANOI – Many solar power plants have managed to get hooked to the power grid early to enjoy the high electricity prices, thus overloading the grid.

Vietnam is currently operating 99 solar power plants with a total capacity of 5,053 MW.

According to the prime minister’s Decision No. 13/2020, the buying price of electricity for floating solar power plants, ground-mounted solar power plants and rooftop solar power systems is 7.79 U.S. cents per kWh, 7.09 U.S. cents per kWh and 8.39 U.S. cents per kWh, respectively.

To take advantage of this incentive, a number of solar power plants are trying to start generating electricity to the power grid before December 31, 2020. The National Load Dispatch Center has had to cut the capacity of some power plants to avoid the power grid becoming overloaded.

The center said as of July 15, some solar power plants had their registered capacity larger than their real capacity so that after their registered capacity was cut, they could still generate a large amount of electricity. Some of them included the Hacom Solar, Thuan Nam-Duc Long, Phuoc Huu and Vinh Hao solar power plants.

However, the electricity buying and selling sample contract based on Circular No. 16/2017 does not contain strict sanctions against overblowing the capacity of power plants.

Investments in renewable energy, especially solar power, have boomed over the past two years as the Government buys renewable energy at higher prices than other energy sources.

The Government will adjust the buying price for certain kinds of renewable energy to help maintain a balance in the power market.



New ride-hail app in Vietnam lets customers bargain with drivers

Ride-hail service inDriver, of Russian origin, expanded its operations to Hue, Can Tho, and Hai Phong on Thursday, allowing passengers to bargain with drivers over fares.

inDriver launched a pilot program in Da Nang, Hoi An City, and Go Noi area in Quang Nam Province in May to measure market response and collect feedback.

From Thursday, the service has also become available in Hue City in the central province of Thua Thien-Hue, the Mekong Delta city of Can Tho, and the northern city of Hai Phong.

inDriver offers the unique Real-Time Deal (RTD) feature, which lets passengers set their preferred fares and drivers choose the most profitable and convenient orders.

The unique feature of the app does not automatically assign drivers to riders.

Nearby drivers who have received ride request notifications are able to choose to either accept the offered fare, ignore the offer, or bargain for a better price.

Meanwhile, the passenger is presented with multiple offers from drivers and has the ability to choose the best fit based on the categories most important to the passenger, such as fares, driver ratings, estimated time of arrival, and vehicle types.

The RTD model, which combats algorithms used by other ride-hailing companies that increase ride prices due to peak hours, traffic conditions, and request history, also ensures passengers are able to book rides at affordable rates at any time.

Founded in the Russian city of Yakutsk in 2012, inDriver is now used by more than 50 million people across 31 countries.

There were more than ten ride-hailing applications operating in Vietnam as of May, according to Ho Chi Minh City TV Station (HTV), with Grab being the current dominator.

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Vietnam Jan-Sept FDI inflows drop 3.2% y/y to $13.76 bln: govt

HANOI — Vietnam received $13.76 billion in foreign direct investment (FDI) in the first nine months of the year, down 3.2% from a year earlier, the Ministry of Planning and Investment said on Friday.

FDI has been a key driver of Vietnam’s economic growth.

Companies with investment from foreign firms account for about 70% of the Southeast Asian country’s exports.

FDI pledges — which indicate the size of future FDI disbursements — dropped 18.9% from a year earlier to $21.2 billion, the ministry said in a statement.

Of the pledges, 46.6% were due to be invested in manufacturing and processing, while 20.6% targeted gas, water and electricity distribution, it said.

Singapore was the top source of FDI pledges in the period, followed by South Korea and China. 


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Nissan gets new Vietnam distributor

Nissan gets new Vietnam distributor

The Nissan logo is seen at their booth at the Tokyo Motor Show, in Tokyo, Japan October 23, 2019. Photo by Reuters/Edgar Su.

The Vietnam Automobile Industry Development Company (VAD) has inked a deal with Nissan to become the Japanese carmaker’s exclusive distributor in Vietnam.

The company announced Thursday that IT will take over the vehicle distribution starting October 1 after Nissan and Tan Chong Motor Holdings Bhd officially cut their ties from September 30.

VAD is a recently established company located in the Viet Hung Industrial Park in northern Ha Long Town. It began operations on August 28. It has a charter capital of VND350 billion ($15.1 million) and registered 28 lines of business, with the main line being the wholesale distribution of cars and other motor vehicles.

Currently, Nissan has its Sunny, X-Trail, Terra and Navara models in the Vietnamese market. Of these, only Sunny and X-Trail models are assembled in Vietnam. A total of 1,414 units of these two models were assembled in the first eight months of this year.

Tan Chong, a multinational corporation based in Malaysia, will retain its presence in the local market, becoming the distributor for British automaker MG, which is owned by Shanghai-based Chinese state-owned SAIC Motor Corporation Limited.


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