The IRC (Investment Registration Certificate) Awarding Ceremony for the Biomass Power Plant (Yen Bai Province) was Held at the Embassy of Vietnam

May 27th, 2024

erex Co., Ltd.

The IRC (Investment Registration Certificate) Awarding Ceremony for the Biomass
Power Plant (Yen Bai Province) was Held at the Embassy of Vietnam
The awarding ceremony of IRC (Investment Registration Certificate) *1 for the Yen Bai Biomass Power Plant in Yen Bai Province, which is a high priority power plant in the “Implementation Plan of the 8th National Power Development Plan (PDP8) of Vietnam” approved by the Vietnamese government on April 1, 2024, was held at the Embassy of Vietnam in Tokyo on Wednesday, May 8. This is the first IRC issued for a biomass power plant under PDP8, and the plan of erex Co., Ltd. (hereinafter referred to as the “Company”) to construct biomass power plants under PDP8 is now in full swing.
▮ Overview of the Power Plant (Previously Reported)
Business Company Name erex Yen Bai Biomass Power Co., Ltd.
Power Plant Name Yen Bai Biomass Power Plant
Planned Construction Site Yen Bai Province, Socialist Republic of Vietnam
Investing Company (Planned) erex Co., Ltd. 100%.
Power Selling Price 8.47US cent/kWh (based on Vietnam’s FIT system)
Generation Output 50MW
Fuel Woody Residue (approx. 500,000t/year)
Construction Period Approx. 2.5 years
The construction project of the power plant has been adopted as “Equipment Subsidy Project under the Joint Crediting Mechanism (JCM) Financial Assistance Project” *2 for FY2023.
Countries in Southeast Asia are facing increasing demands for electric power in line with economic growth and increasing energy imports, and are required to respond to de-carbonization. These countries have an abundance of unused biomass resources, and there is a large potential for the introduction of renewable energy, which the Company believes will allow it to utilize the experience that has been accumulated in the biomass power generation business. Furthermore, the Company believes that this project can increase the ratio of renewable energy in Southeast Asian countries and will contribute to the creation of employment.
Toward the realization of “Zero Emissions 2050”, which is also the goal of the Vietnamese government, the Company will contribute to global de-carbonization and solutions to energy problems by building and expanding its biomass business in cooperation with leading domestic and overseas companies.
<Left> Hitoshi Honna, erex Co., Ltd.
<Right> Chan Phi Thuan, Chairman of the Provincial People’s Committee, Yen Bai Province
<Center> Pham Quang Hieu, Ambassador Extraordinary and Plenipotentiary of Vietnam to Japan
*1: An Investment Registration Certificate (IRC) is a document containing information related to an approved investment project that a foreign investor needs to obtain before applying for an Enterprise Registration Certificate (ERC) when investing in Vietnam in the form of establishing a Vietnamese corporation, etc.
*2: Ministry of the Environment, Japan has been implementing the “JCM Model Projects,” which provides financial supports covering up to half of the initial investment costs. The purpose of this model projects is to financially support the implementation of projects which reduce GHG emissions by utilizing leading decarbonizing technologies in developing countries, and in return, to acquire JCM credits for achievement of Japan’s GHG emission reduction and the partner countries‘ emission reduction target. This project is being implemented with the cooperation of the Vietnamese and Japanese governments
Press Contact
erex Co., Ltd. / IR & PR Department
TEL: +81-3-3243-1167, FAX: +81-3-3243-1184
E-mail：pr.info@erex.co.jp