First Geothermal Power Plant Gets The Nod

HA NOI - (VNS) Central Quang Tri Province's Dakrong District will be the home for a pioneering 25MW geothermal power plant, according to the Deputy Chairman of Viet Nam Thermal Association Ta Huong.

The plant, set to be the very first of its kind in Viet Nam, has been licensed by provincial authorities and aims to promote exploration for new sources of energy in the near future.

Huong said Viet Nam has the potential for developing geothermal power in almost all provinces and cities nationwide, especially in Phu Tho, Quang Binh and Quang Tri.

The geothermal plant can operate 24 hours a day without being affected by weather conditions such as sunlight, wind or sea wave.

Geothermal electricity is generated from geothermal energy. It is considered to be sustainable and friendly-environmental because the heat extraction is small compared with the earth's heat content.

It's reported that the geothermal power plant will use Hot Dry Rock (HDR) heat mining technology to mine the heat from the hot rock found almost everywhere at some depth beneath the surface of the earth.

The water is pumped into hot, crystalline rock via an injection well, which becomes superheated as it flows opening joints in the hot rock reservoir, and is then returned through production wells.

At the surface, the useful heat is extracted to generate power and the same water is recirculated to mine more heat .

The technology has been used by many countries in the world including the US, Germany and Iceland.

The US takes the lead, with its geothermal power output accounting for 32 per cent of all geothermal power produced in the world.

In the next 50 years, the US is expected to generate 100,000MW from geothermal energy, supplying power for 25 million of households at a cost of around $40 million per year. -- VNS

RECENT NEWS

Indian Food Delivery Unicorn Zomato Likely To File For IPO Next Month

Food delivery unicorn Zomato is planning to file for an Initial Public Offering (IPO) by April which could raise $65... Read more

Vietnams Bamboo Airways Aims Third-quarter Listing With Market Cap Of $2.73b

Vietnam’s startup Bamboo Airways said on Friday it aimed to list its shares on a local stock exchange in the thi... Read more

Didi Chuxing Advances IPO Plans To Next Quarter, Targets $62b Valuation

Chinese ride-hailing giant Didi Chuxing Technology Co. is accelerating plans for an initial public offering to as early... Read more

Warburg-backed Kalyan Jewellers IPO Loses Shine, Sees Tepid Demand

Kalyan Jewellers India Ltd’s initial public offering was oversubscribed by just 1.28 times on Thursday, a sign of tep... Read more

Chinese E-commerce Platform DMall Hires Banks For Over $500m US IPO

Chinese e-commerce platform Dmall (Beijing) E-commerce Co has hired Bank of America, Goldman Sachs and JPMorgan for a... Read more

Tencent-backed Chinese Software Firm Tuya Eyes $915m In US IPO

Tuya Inc., a software company backed by New Enterprise Associates and Tencent Holdings Ltd., is on track to raise $915 ... Read more