Finnish Company to invest US$33 million into a clean energy project in Hanoi

According to Kimmo Tuppurainen Southeast Asia Sales Manager of Watrec, the leading biogas technology company in Finland, the company has launched a clean energy project with a total an investment of more than US$33 million in Hanoi. At present, Watrec is negotiating with partners to finalize the allocation of investment capital for the project.

Saku Liuksia, Finpro’s programme manager of waste-to-energy and bioenergy, said "FinPro has focused on converting waste into energy and bioenergy in Vietnam for two years. Therefore, we understand the challenges and potential 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 Company’s largest project in Viet Nam includes a US$6.6 million landfill gas treatment plant which is under construction in the outskirts of Ho Chi Minh City and aims to convert 35,000 tonnes of waste into energy.

With regard to the investment in and implementation of clean energy projects, Matti Miinalainen, Regional Director for Asia and the Pacific of Valmet, a leading Finnish company, said that Vietnam is one of Valmet's preferred locations for investment.

Based on the practical investment and implementation of projects in this field, Valmet's representative offered three recommendations.

First, it is necessary to determine the feasibility of the project by identifying the source of input waste converted in the plant. Second, the fees the companies receive from individuals/organizations transporting waste to the treatment plant. Third, it is necessary to consider price list of electricity when electricity is sold Vietnam Electricity Corporation.