IFC invests 30 million USD in waste-to-energy plant in Vietnam
The International Finance Corporation (IFC) has committed 30 million USD to the construction of a waste-to-energy plant in the northern province of Bac Ninh as part of support for Vietnam to help it reach net-zero carbon emissions by 2050.
At the ceremony to start construction on the waste-to-energy plant (Photo: VGP)
Hanoi (VNA) – The International Finance Corporation (IFC) has committed30 million USD to the construction of a waste-to-energy plant in thenorthern province of Bac Ninh as part of support for Vietnam to help it reach net-zero carbonemissions by 2050.
The financing package will allow T&J Green EnergyCompany Limited - a joint venture between Thuan Thanh Environment JSC, a BacNinh-based recycling company, and JFE Engineering Corporation, a leadingJapanese company in the construction and operation of waste treatmentfacilities - to develop a modern waste-to-energy plant in Thuan Thanh district.
The plant is expected to begin operations in 2024 and willincinerate 500 tonnes of daily and industrial solid waste every day. It aims toincrease the province’s waste treatment capacity and reduce negative impact onthe environment while protecting locals’ health.
Waste incineration at the plant is expected to generate91,872-megawatt-hours of clean energy a year, preventing about 600,000 tonnesof greenhouse-gas emissions over 15 years. The power generated will be sold toVietnam Electricity Corporation under a 20-year feed-in-tariff power purchasescheme.
With about 1.4 million people and 16 industrial parks, BacNinh generates over 1,000 tonnes of solid waste every day./.
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At the ceremony to start construction on the waste-to-energy plant (Photo: VGP) 
