U.S. Mission to Grant $3M to Fund Battery Energy Storage System in Vietnam

The United States Mission to Vietnam will grant $3 million to fund an advanced battery energy storage system run by AMI AC Renewables in Vietnam’s central Khanh Hoa province, local media reported.

The grant is part of the U.S-Vietnam Energy Security Dialogue, an initiative expected to help energy-thirsty and fast-expanding Vietnam secure carbon neutrality by 2050.

The U.S. Consulate General in southern Ho Chi Minh City plans to officially award the grant at the construction deal signing ceremony between AMI AC Renewables and the U.S. conglomerate Honeywell-the builder of the system on May 9.

AMI AC Renewables is a joint venture (JV) between Vietnamese company AMI Renewables and AC Energy, a member of Filipino giant Ayala Corporation. The JV received the first grant of $2.96 million from the U.S. Mission for its Khanh Hoa project in October 2021. (The Investor)