Partially UK-owned power plant contractor looking for renewable opportunities in Vietnam

By Phong Van   April 14, 2023 | 06:00 pm PT
HSS Restoration Asia Group plans to expand cooperation and investment in clean energy in Vietnam.

The company provides restoration services for air preheaters and gas heaters used in coal-fired power plants. HSS's proprietary patent-filed restoration cleaning technology has been proven to lower carbon emissions by up to 2%.

An HSS Restoration Asia Groups factory. Photo by HSS Restoration Asia Group

A turbine room in a power power plant. Photo by HSS Restoration Asia Group

Founded in 1984 in the U.K., HSS has provided its specialist services to power stations for nearly four decades. The company has also focused on developing its technology over the years. The company's patent-pending technology uses induction and ultrasonics to create structured water.

This enables the restoration process to be significantly more efficient than traditional methods, achieving high-performance recovery in a short time and allowing power plants to more efficiently remove sulfur dioxide (SO2) and nitrogen oxides (NOX) from exhaust flue gas.

As a result, this reduces the amount of carbon dioxide (CO2), sulfur dioxide (SO2), and nitrogen oxides (NOX) released into the atmosphere, improving overall system efficiency and meeting emissions regulations.

HSS has extensive experience using its restoration services in over 24 countries, from Europe to Asia – including China, Indonesia and Malaysia with activity in more than 600,000 MW of projects since its formation. The company also has representation in Korea, Thailand, and Laos. Vietnam is the latest market. Here, HSS has established the local firm HSS Restoration Asia Co. Ltd. in Ho Chi Minh City.

"The move marks the company's efforts to venture into the emerging market and contribute to decarbonizing the energy sector," the company CEO said.

Solar panels made by HSS Restoration Asia Group. Photo by HSS Restoration Asia Group

Wind Turbines at Ninh Thuan Province, Vietnam. Photo by HSS Resotration Asia Group

"Although HSS is a specialized contractor for coal-fired power plants in Southeast Asia, the company is fully committed to facilitating Vietnam's green energy transition. Therefore, the company is exploring the opportunity to invest in Vietnam's renewable energy market."

HSS can offer consulting and assessment services for environmental impact (ISO 14001) and carbon emission (ISO 14064) to help businesses facilitate sustainable development efforts. These services are forecasted to be in high demand in the coming time as more green projects are launched - and more sustainable development reports are made - in Vietnam.

Dr Melvyn Daniel Flitman, the company's joint shareholder and CEO/director, says the Vietnamese market is essential for HSS's expansion strategy in Southeast Asia. The early-stage development of renewables in Vietnam presents ample opportunities for the company. However, it will not be easy, with potentially more forward-thinking companies also keeping their eyes on Vietnam. "Even so, we are focused on the fact that HSS is undoubtedly open to expanding into the green energy market.", he added.

Vietnam is stepping up its efforts to accelerate the peaking of its greenhouse gas emissions and transition from fossil fuels to clean energy. Thanks to its 3,000 km coastline, Vietnam has some of Southeast Asia's best wind resources, which is another reason for HSS to explore the potential of Vietnam's renewable energy market.

Solar panels installation made by HSS Restoration Asia Group. Photo by HSS Restoration Asia Group

Solar panels installation. Photo by HSS Restoration Asia Group

HSS has mapped out a plan to tap into Vietnam's renewable energy market opportunities at this early stage of development in the industry. The key objectives are to investigate opportunities to transfer restoration and maintenance skills from coal-fired power to renewable energy.

The company will make efforts to adapt its restoration services for solar and wind power plants in Vietnam.

In addition, HSS aims to build strategic partnerships with foreign companies wanting to participate in Vietnam's renewable market. For example, more renewable energy developers from the EU, Singapore, Thailand and the Philippines are expanding their presence in Vietnam. As an ecotechnology-focused group, HSS is open to collaborating with foreign partners to capitalize on the renewable energy market.

ESG (environmental, social, and governance) criteria have gained prominence in Vietnam over the past few years. This is largely driven by the government's efforts to promote ESG-related activities combined with investors' growing demand for sustainable investment. According to the PwC Vietnam ESG readiness report 2022, 80% of firms in Vietnam have made ESG commitments or plan to do so in the next two to four years.

At the 2021 United Nations Climate Change Conference (COP26), Vietnam's prime minister announced a series of climate action commitments, including net-zero carbon emissions by 2050.

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