Japan-based Electric Power Development Company (J-Power) has signed a memorandum of understanding (MoU) with Vietnam Forestry Corporation (Vinafor) to jointly explore opportunities for biomass business in the country. Under the MoU, the companies will study the potential collaboration in areas such as power generation and fuel production.
The demand for electric power has been increasing by nearly 10 per cent a year in Vietnam and is expected to continue growing in the next ten years. In order to meet the demand, the local government plans to introduce more renewable energy projects, including the use of biomass fuels from wood, as part of the National Power Development Plan (PDP) VIII.