HANOI, VIETNAM -- November 27, 2013 -- GE and the Electricity Regulatory Authority of Vietnam (ERAV), Ministry of Industry and Trade (MOIT), today signed an agreement for a 'renewable energy integration study' aimed at developing wind power as a reliable energy source into the national grid. The project is funded by the U.S. Trade and Development Agency (USTDA) under the Grant Agreement between the U.S. Government and the ERAV.
In attendance at the event were Vice Minister, Ministry of Industry & Trade, Madam Ho Thi Kim Thoa; Vice Chairman of GE, President & CEO of GE Global Growth & Operations, John Rice; and several other government officials of Vietnam and the U.S
Initially, GE will contribute technical assistance that will assist the MOIT, and particularly the ERAV, to understand the requirements for preparing the grid system for the successful integration of wind power. The study will provide valuable insights into grid stress and stability and will evaluate the reliability of long term wind forecasting. In addition to providing consultancy, GE will also help train the local work force to support the development of wind power.
"As the world leader in renewable energy development, GE is pleased to support Vietnam's pursuit of sustainable energy as a new way forward" Mr. Rice said. "This agreement will lay the foundation for Vietnam to exploit its great potential in wind energy which in turn will contribute to the improvement of the country's energy infrastructure."
Mr. Dang Huy Cuong, Director General of ERAV, said: "Exploring the current issues relevant to the growth of Vietnam power system, with particular attention to the integration of renewable energy sources and enhanced operation and intelligence of the grid are critical for Vietnam to ensure sustainable development of the power industry. We highly appreciate GE as an excellent partner for this important project considering its global experience in consultation and implementation of energy project."
According to a study conducted by the International Energy Agency and the World Bank in Thailand, Vietnam, Laos and Cambodia, Vietnam has the greatest capacity to utilize wind to generate energy; up to 8.6% of the country's land area has been evaluated as either "good" to "very good" for building large wind power stations. However, the current development of wind power in Vietnam is a fraction of its potential.
"We are pleased to support this effort to help develop Vietnam's abundant wind resources," said USTDA Director Leocadia I. Zak. "This contract demonstrates the practical benefits of collaboration between U.S. industry and the governments of the U.S and Vietnam in achieving sustainable energy growth for Vietnam's expanding economy."
The signing ceremony coincides with the company's 20th year of operation in Vietnam, affirming GE's commitment to long-term development through what it describes as 'company-to-country' partnership.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. They are finding solutions in energy, health and home, transportation and finance, as well as building, powering, moving and revitalizing the world. Not just imagining - doing. GE works. GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
About GE in Vietnam
In 1993, GE was one of the first American companies established in Vietnam before the US Embargo was lifted. As a rapidly developing country, Vietnam has broad needs in Aviation, Energy and Healthcare that are critical for its sustainable, environmentally-conscious growth. GE provides Vietnam a unique company-to-country approach, helping the country become a stronger global presence.
For more information, please contact:
Trinh Phuong Lan
Do Lien Yen Ly
Trinh Phuong Lan