The US funded 860.000 USD for 3 renewable energy projects in Vietnam

The US Agency for International Development (USAID) announced a budget of 860.000 USD to finance 3 new renewable energy projects in Vietnam on October 28.10.
Wind power project in Gia Lai
The US funding was announced at the Indo-Pacific Business Forum on October 28.10. This new funding will support our current efforts USAID aims to reduce transaction costs and risks for project developers to encourage increased private investment in renewable energy development in Vietnam, a sector considered a key driver for sustainability. sustainability and economic growth.
Specifically, the newly announced budget will support factories wind electricity onshore (capacity 350MW) in Gia Lai of TSV and Asia Renewables Joint Stock Company. Support includes designing optimized wind turbine generator system diagrams, performing pre-construction energy yield assessments for financial feasibility, pre-construction documentation and preparing bidding documents. necessary for construction.
The budget also aims to support testing of off-grid wave power technology of INGINE Pacific company on Ly Son island, Quang Ngai. Support includes performing social and environmental impact assessments, helping INGINE Pacific minimize the risk of disruption during project implementation, and optimize project management activities to achieve greater efficiency and savings. more cost-effective, maximizing local development benefits, such as encouraging the practice of corporate citizenship.
Vietnam has 3.000km of coastline and more than 3.000 islands and archipelagos, so wave power is an important potential energy source for Vietnam's transition to a clean energy system.
The support is also for Bamboo Capital Group’s (BCG) offshore wind power plants in Ca Mau (300MW) and Tra Vinh (200MW). The support includes conducting feasibility studies and environmental and social impact assessments that meet international standards to support BCG Energy Joint Stock Company (BCG’s subsidiary) as it seeks international financing.
Funding will be provided through the INVEST project - a global initiative of USAID with the goal of helping to reduce barriers for investors, thereby facilitating the mobilization and regulation of investment capital flows. in high-impact sectors.
With a growing private sector and international export and manufacturing base, Vietnam is one of the most dynamic emerging economies in Southeast Asia, but the current scale of investment in The energy, infrastructure and health sectors are still not enough to keep pace with growth and meet the country's development goals.
Through the USAID INVEST project, USAID seeks to promote increased international investment in Vietnam and enhance the capacity of the public and private sectors to work together to finance development priorities. of the country, which minimizes the impact of climate change through supporting Vietnam's transition to clean energy systems.
By participating in supporting many areas, INVEST's activities will help improve access to health services, diversify financial sources, enhance the sustainability of the energy system and strengthen relationships. public-private partnership.
According to Labor