Finland Poured 33 Million USD into Clean Energy Projects in Vietnam

Watrec Company has just started to invest in Vietnam with a clean energy project, investment capital of 30 million euros (over 33 million dollars) in Hanoi.

Specifically, the project is converting energy from waste with the processing capacity of the plant about 600 tons of waste per day. The project is a comprehensive solution for collecting urban solid waste, classifying and converting it into biogas, as well as other combustible materials to produce electricity. At present, Watrec is in the process of negotiating with partners to finalize the allocation of funds for the project.

Watrec is the leading biogas technology company in Finland, handling 315,000 tonnes of organic waste each year at its plant-building chain. The project in Hanoi aims to manage the mixed waste that has not been classified and treat urban solid waste.

According to FinPro’s representative, Vietnam has the potential to develop clean energy projects from urban waste and agricultural and forestry waste.

FinPro focuses on converting waste into energy and bioenergy in Vietnam for about 2 years. Therefore, FinPro understands the potentials and challenges in converting waste into energy in Vietnam.

In fact, in recent years, many Finnish companies have invested and implemented projects in this field in Vietnam and have made positive progress.

For example, Doranova has one of the largest projects with a landfill disposal facility worth 6m euros under construction in the outskirts of Ho Chi Minh City, aiming to convert 35,000 tonnes of waste into energy.

Nearly a year ago, Doranova is one of the Finnish companies to undertake a project to convert waste into energy in Binh Duong. Accordingly, this project will recover the gas from the landfill and treat, supply the biogas to the power plant with a capacity of 1.6 MW.

Regarding the investment and construction of clean energy projects, according to representative of Valmet, the leading company in Finland, Vietnam is Valmet’s investment priority. From the investment realm, deploying projects in this area, Valmet’s representatives made 3 recommendations. First, it is necessary to determine the feasibility of the project by identifying the source of input waste from the plant. The second is about the fee collected from the garbage carrier to the processing plant. Third, it is necessary to consider electricity price lists when selling to EVN.