EU Funds EUR360M to Help Vietnam Develop Sustainable Energy

The European Union on April 15 started a EUR360 million program to support Vietnam in developing the energy sector in a sustainable way, said Ambassador Franz Jessen, head of the European Union delegation to Vietnam. The funding is part of the EU’s new EUR400 million development co-operation program for Vietnam during the 2014-2020 period, Mr. Jessen said at a seminar in Hanoi on April 15. Vietnam is facing shortage of energy in the next decade, he noted, adding that the country will must import energy by 2020 and its dependence on imported energy will sharply rise. Meanwhile, renewable energy has not been exploited effectively due to shortage of mechanisms and financial supports, the official said. The Vietnamese government has prioritized wind power development to deal with the electricity shortage. The country’s master plan for power development aims to increase the combined capacity of all wind power plants to about 1,000MW by 2020 and 6,200MW by 2030. (vietnamplus.vn Apr 15)