A budget of $860,000 to fund three new renewable energy projects in Vietnam was announced by the US Agency for International Development (USAID) at the Indo-Pacific Business Forum today, according to a press release. Report of the US Embassy.
The funding will support USAID’s efforts to reduce transaction costs and risks for project developers, and encourage increased private investment in renewable energy development in Vietnam.
The money will be used to support the 350MW onshore wind power plant project in Gia Lai by TSV and Asia Renewables Joint Stock Company, and testing off-grid wave power technology of INGINE Pacific on Ly Son island in the province. Quang Ngai, together with the offshore wind power plants of Bamboo Capital Group in Ca Mau (capacity of 300MW) and Tra Vinh (capacity of 200MW).
Funding will be provided through project INVEST, USAID’s global initiative to help reduce barriers for investors, facilitate mobilization and regulate private capital flows into the sectors. high impact.
The US Embassy said Vietnam is one of the most dynamic emerging economies in Southeast Asia, but the current scale of investment in energy, infrastructure and health is still not enough. to keep pace with growth and meet national development goals. USAID aspires to mitigate the impacts of climate change by supporting Vietnam’s transition to clean energy systems.
According to Vu Anh (www.tintuc24h.org), Source of photo: internet