On 27 March 2023, the Australian Energy Trade Mission to Vietnam launched in Hanoi. The mission comprises a series of activities in Hanoi and Ho Chi Minh City from March 27 - 30 to promote cooperation on renewable energy and to celebrate the 50th Anniversary of Australia and Vietnam’s diplomatic relationship.
Within the framework of energy cooperation between Australia and Vietnam, the Australian Government Trade and Investment Commission (Austrade) cooperated with the Electricity & Renewable Energy Department – Ministry of Industry and Trade of Vietnam and Vietnam Electricity Group (EVN), to organise the Energy Transformation Forum 2023, held in Hanoi on March 28.
Like Vietnam, the Australian government has made a commitment to climate action, with a target of reducing greenhouse gas emissions by 43% by 2030 and to zero by 2050. The forum will discuss the energy transition of Vietnam and Australia and introduce new energy technologies and solutions from Australia.
Australia’s Ambassador to Vietnam, HE Andrew Goledzinowski, said: “Australia has long been one of Vietnam’s strongest energy partners, having supported the first ever 500KV transmission line connecting northern power sources to the central and southern regions back in the early 1990s. This year, as we celebrate 50 years of diplomatic relations, the green economy represents the next big opportunity in our economic partnership. The rapid expansion and transition of Vietnam’s energy sector provides a real opportunity to evolve our trade and investment relationship into the future.”
In addition to exploring commercial opportunities from the decarbonisation agenda, the trade mission will also explore opportunities such as grid operation in the context of rapidly increasing integration of renewable energy; opportunities to apply energy storage solutions; solutions to optimise smart grid operation, virtual power plant, energy efficiency and enterprise digitisation applications in energy transformation; and green certification system, decarbonization technology.
According to information from the Australian Department of Climate Change, Energy, Environment and Water's website, the past 10 years have seen a dramatic energy transition from coal to renewables. Specifically, small-scale solar energy production has seen an average growth rate of 28% per year and wind power production has increased by 15%.
Recently, large-scale solar farms in Australia have begun to expand rapidly. Large-scale solar production has grown from negligible levels before 2016 to 4% of Australia's total electricity production in 2021, representing a five-year growth rate of 1,747 percent.
Australia's National Hydrogen Strategy sets out a vision for a clean, innovative, safe and competitive hydrogen industry that benefits Australians, and also adds to Australia’s energy exports.
In the offshore wind sector, Star of the South is Australia's most advanced offshore wind project off Gippsland in Bass Strait, capable of providing up to 20% of Victoria's electricity needs, while creating jobs and investing in the state's renewable energy infrastructure.
Renewable energy production reached a record high share of Australia's total electricity generation capacity in the last three months of 2022, providing an average of more than 40% of the electricity in the nation's main grid.
Meanwhile, Vietnam is experiencing remarkable economic growth and is rising to become one of the fastest growing energy markets in Asia. In response to this economic development, Vietnam's energy demand is expected to grow by nearly 8% - 10% per year, leading to the need for reliable energy supply. And so, Vietnam's renewable energy market is increasingly attractive to foreign investors.
Austrade Senior Trade and Investment Commissioner, Ms Rebecca Ball, shared: “This trade mission will help Australian and Vietnamese businesses to strengthen business links, identify trade and investment opportunities in the energy sector and contribute to our bilateral economic engagement. Australian capabilities in clean energy supply chains and the services that accompany them can also help Vietnam manage the huge transition it has in front of it. This will lay the foundations for economic ties in the decades to come.”
The Australian Energy Delegation to Vietnam will be an opportunity for Australian and Vietnamese businesses to discuss opportunities for cooperation in the field of renewable energy development and efforts to reduce carbon emissions and develop supply chains. energy exchange between the two countries.
About Australian energy businesses coming to Vietnam:
ARDEXA: Founded in 2013, Ardexa provides a digital control platform, a cloud-integrated solution for managing a large number of machines in various industries. Data collection, normalization, data sharing, factory control and remote working tools are the core components of this solution.
ENTURA: Entura is an energy and hydropower consulting firm with over 100 years of experience that has contributed to the development, operation and maintenance of hydropower and renewable energy infrastructure.
GENTRACK: Gentrack provides innovative clean technology solutions to service providers worldwide. The company is a global technology leader in providing metering solutions to the world's leading water and energy companies.
MAGELLAN POWER: Operating since 1991, Magellan Power is an Australian manufacturer of industrial grade backup power systems including AC and DC UPS, Energy Storage Systems and Battery Monitoring Systems.
POWERLEDGER: A technology and software company with the goal of making renewable energy systems more stable. Its products are divided into three main sections: energy trading and traceability, flexible trading and environmental commodity trading.
RECLAIM ENERGY: Supplier of CO2 heat pumps for the supply of hot water in commercial and household applications. The Reclaim Energy CO2 heat pump hot water system uses leading technology to convert heat from the energy of the surrounding environment.
ULTRA POWER SYSTEM: Ultra develops and licenses the intellectual property of energy storage technology for commercial use. Ultra's first product suite based on Vanadium Redox (VRFB) technology, includes a 6kw/40kwh V40 battery module and a 12kw/80kwh stand-alone power station, integrated with 30kw solar power and 4kw wind turbines.
VILLAGE ENERGY: Helps integrate and manage home appliances, increases renewable energy on the grid, and provides consumers with control, transparency and cost savings. Village Energy's technology platform connects home energy equipment to electrical systems.
REPRESENTATIVE OF THE STATE OF WESTERN AUSTRALIA
The Western Australian Government Office administers WA's economic development, international trade and investment, tourism, and promotes the energy, defence, international education, science and state innovation.
SOUTH AUSTRALIA STATE REPRESENTATIVE
The South Australian Office of Trade and Investment promotes economic development in the South Australian region by attracting investment, boosting exports, building global brands and reducing barriers to doing business. business.
MEDIA CONTACT:
Ms. Huong Tran
Marketing Manager
Australian Trade and Investment Commission (Austrade)
Email: [email protected]
Ms. Hoa Nguyen
Senior Business Development Manager
Australian Trade and Investment Commission (Austrade)
Email: [email protected]
Photos will be uploaded after the event via this link.