The Chairman of the People's Committee of Yên Bái Province, Trần Huy Tuấn (R), presented the Chairman of Erex Group, Honna Hitoshi (L), with the approved investment policy for a biomass power plant project. — VNA/VNS Photo

HÀ NỘI — The Chairman of the People's Committee of Yên Bái Province, Trần Huy Tuấn has presented the Chairman of Erex Group, Honna Hitoshi, with the approved investment policy for a biomass power plant project, during a ceremony held in Tokyo, Japan.

The Yên Bái 1 biomass power plant project will be located in Bắc Văn Yên Industrial Cluster, Văn Yên District, Yên Bái Province.

The event was attended by the Vietnamese Ambassador to Japan, Phạm Quang Hiệu, as well as representatives from Yên Bái Province and units within the Erex Group.

Ambassador Hiệu expressed satisfaction at the investment, saying it represented a significant symbol of the strong economic co-operation between Việt Nam and Japan.

He added that he hoped the project would promote the development of sustainable energy solutions and make a positive contribution to the economy of Yên Bái Province and Việt Nam as a whole.

Chairman Trần Huy Tuấn wanted to stress that this was EREX's second project to receive approval for investment policies in Yên Bái province and was in line with the area's socio-economic development plan, as well as the national strategy on green growth, part of Việt Nam's commitment to achieving net-zero by 2050.

Chairman Honna Hitoshi of the Erex Group expressed gratitude to the province for their support in implementing the Yên Bái 1 biomass power plant project.

He revealed that the plant would be constructed on approximately 10 hectares of land, with an estimated investment capital of US$100 to $120 million.

The plant is expected to start operating in early 2027 and will generate 50 MW of electricity, including approximately 45MW of stable renewable power for EVN's transmission system and will be using around 500,000 tonnes of scraps and wood by-products per year as fuel for its operations. —VNS