With its extensive 3,260km coastline and abundant renewable energy potential, Vietnam possesses the ingredients to become a green hydrogen hub in Asia. This was emphasized by Ms. Huynh Thi Kim Quyen, CEO of The Green Solutions Group, at a conference on Vietnam's Hydrogen Energy Development Strategy for 2030 and 2050, held by the Ministry of Industry and Trade on February 22nd, 2024.
Ms. Quyen, as the lead investor in the first green hydrogen project in Tra Vinh, highlighted that Vietnam boasts "sun, wind, and seawater," the key ingredients for sustainable green hydrogen production. This presents a significant opportunity for Vietnam, but to make it a reality, a strong commitment from the government and relevant ministries is crucial in establishing standards and policies that support and promote green hydrogen development.
Pioneering Project and Challenges
The Green Solutions is currently developing a $1.4 billion green hydrogen project in Tra Vinh. Ms. Quyen mentioned that before initiating the project, the group spent two years researching green hydrogen, evaluating various global technologies, and ultimately choosing the most widely used alkaline electrolysis technology.
However, the project also faces several challenges, including finalizing policy mechanisms and standards, investing in skilled human resources and advanced technologies. Additionally, the high cost of green hydrogen production needs to be addressed. Policy support is crucial to reduce costs and ensure the transition towards sustainable technology.
Ms. Quyen also emphasized the significant potential of selling carbon credits through green ammonia, a byproduct of the process. This presents a golden opportunity for Vietnam in the context of a rapidly growing carbon credit trading market. Consequently, the green hydrogen project in Tra Vinh has secured green financing from international financial institutions and banks.
Development Goals and Solutions
Vietnam's Hydrogen Energy Development Strategy, approved by the Prime Minister in Decision No. 165 on February 7th, 2024, paves the way for a green, clean, and sustainable future for the energy sector.
The strategy aims to develop a hydrogen energy ecosystem based on renewable energy, encompassing production, storage, transportation, distribution, domestic use, and export with comprehensive and modern infrastructure. To achieve this, it outlines solutions such as diversifying capital sources and investment models, attracting non-state enterprises and international partners, and increasing investment in science, technology, and human resources. Additionally, it emphasizes the utilization of market instruments to promote green growth, low-carbon economies, and circular economies.
Minister of Industry and Trade Nguyen Hong Dien emphasized that for effective implementation of the strategy and development of projects, the Ministry will promptly establish and submit specific plans to relevant authorities to achieve the set goals and solutions, ensuring consistency and coherence. Additionally, the Ministry will focus on revising, supplementing, and issuing new regulations and policy mechanisms related to hydrogen energy. This will contribute to a comprehensive policy and legal framework for the sector. Furthermore, the Ministry will monitor and oversee the implementation of hydrogen energy projects and address any challenges or obstacles promptly.
Conclusion
With its abundant resources and a clear development strategy, Vietnam has strong potential to become a green hydrogen hub in Asia. The development of this industry will contribute to green economic growth, greenhouse gas reduction, and propel Vietnam towards its goal of net-zero emissions by 2050.
"The article is sourced from Tuoi Tre newspaper via the following link: https://tuoitre.vn/viet-nam-co-the-la-trung-tam-san-xuat-hydrogen-xanh-o-chau-a-nho-nguon-tai-nguyen-khong-lo-20240222125129839.htm
