Erex signs memorandum of understanding for biomass projects in Vietnam

An information exchange ceremony regarding this MOU was held between the Company and Lào Cai Province during the Vietnam Tourism Investment Conference held in Tokyo on April 23, 2024.

In Southeast Asian countries, demand for electricity is growing due to economic growth and energy imports are increasing, while on the other hand there is a need to respond to decarbonization.

Under these circumstances, the Company is engaged in energy development projects, including “construction of biomass power plants in Vietnam”, “development of biomass fuels in Vietnam and other Southeast Asian countries” and “fuel conversion through co-combustion of biomass in coal-fired power plants”. “fired power plants”, based on the Company’s activities related to the production of energy from biomass, which allows both decarbonization and domestic acquisition of energy raw materials.

In Southeast Asian countries, where there are large untapped biomass resources, there is great scope for the introduction of renewable energy, and the Company believes that the experience gained so far can be used. Moreover, the Company believes that the biomass business will not only increase the share of renewable energy in Southeast Asian countries, but also contribute to job creation.

The company will contribute to the implementation of cheap and rapid decarbonization, while ensuring stable energy supplies, taking into account the unique situation of Asian countries.

In pursuit of “Zero Emissions 2050”, the Company will contribute to global decarbonization and solving energy challenges by working to build and develop biomass enterprises in cooperation with leading domestic and foreign companies.