On June 14, 2022, the delegation of the Lao Ministry of Science and Technology led by Prof. Boviengkham Vongdara, President of the National Academy of Sciences (NASL), Minister of Science and Technology of Laos, visited and worked with RT Energy Vietnam Joint Stock Company. Mr. Saumya Swain - Chairman of RT Energy and representatives of the Board of Directors of the company welcomed the delegation.
This is one of the important activities of the delegation of the Ministry of Science and Technology during their stay in Vietnam to promote cooperation and development of renewable energy.
RT Energy President - Mr Saumya Swain (seated in the middle, right) and the Minister of Science and Technology - Mr Boviengkham Vongdara (black shirt, left) at the meeting
At the meeting, RT Energy introduced to Minister Boviengkham Vongdara an overview of the company's operation and development. Accordingly, RT Energy associates the development of the business with the process of reducing carbon emissions, contributing to the Net-Zero process of Vietnam as well as the world. In 2 years (2020 and 2021), the company has put into operation two 27.2 MW Adani Phuoc Minh wind power projects and 50 MW Phuoc Minh solar power projects with a total investment of more than 2,000 billion VND. Each year, the two projects are estimated to bring in revenue of more than 360 billion VND, contributing 215 billion VND to the local budget.
In the future, RT Energy is going to focus on smart energy solutions such as investing in battery storage systems with renewable energy projects; expanding investment in D-PPA projects; research, evaluation and investment applicability of renewable energy projects combined with hydrogen production. With experience and advantages in human resources and technology, RT also offers many prospects for cooperation in developing green energy in Laos, in line with the Lao government's mechanism and orientation in recent years.
Quang cảnh dự án Adani Solar của RT Energy tại Ninh Thuận
View of RT Energy's Adani Solar project in Ninh Thuan
Minister Boviengkham Vongdara expressed his impression of the company's achievements despite the impacts of the Covid-19 epidemic, and affirmed that Laos is very welcoming to businesses investing in renewable energy such as RT. Energy. At present, Laos' economy is heavily dependent on energy exports, the 5-year accumulation in the 2016-2020 period is estimated at 129,605 million kWh, with a total value of more than 7.2 billion USD.
While fossil fuel resources are being exhausted, Laos' upcoming strategy is to invest in renewable energy. Energy sources using green technology will receive the support of the Lao Government because these projects do not have an impact on the environment, while also creating sustainable jobs and promoting the transfer of science, modern technology. In 2020, Laos established a renewable energy fund to support research and development of green and sustainable energy, human resource development, and public awareness raising.
In early 2022, the Vientiane Times reported that Laos had planned 58 solar power projects with a total installed capacity of up to 7,656 MW (illustration image).
The Minister of Science and Technology proposed that RT Energy will study and implement solar field projects, combining electricity production with sightseeing tours to help people. In Laos, there are more opportunities for economic development. In addition, Mr. Boviengkham Vongdara also expressed his wish that the Company would pay attention to develop the field of electric vehicles to serve the inner city, in line with the needs of the capital Vientiane.
RT Energy said that the enterprise is hiring a unit to survey the potential for cooperation in developing renewable energy in Laos. In the next step, the company will directly and experts carry out field visits to have in-depth assessments of the feasibility of the project, both from a construction perspective and from an economic perspective. At the same time, RT will conduct research on legal procedures, open a representative office or a subsidiary to comply with the provisions of the Law on Enterprises and the Law on Investment, as well as the current legal corridors. other passengers of Laos./.
