USAID-backed V-LEEP Helps to Mobilize $311M for Six Energy Projs in Vietnam

After five years of implementation, the Vietnam Low Emission Energy Program (V-LEEP), which was jointly carried out by the Ministry of Industry and Trade (MoIT) and the United States Agency for International Development (USAID), helped to mobilize $311 million for six renewable energy projects in the Southeast Asian country. Thanks to the funding, six private sector-led wind and solar energy projects were developed to add 300 megawatts (MW) to the system. Over the last three years, these renewable energy projects, along with savings from energy efficiency improvements, have reduced about 730,000 tons of greenhouse gas emissions, equivalent to over 365,482 tons of coal. V-LEEP also collaborated with MoIT to provide technical support for Vietnam’s future power grid and the development of the Power Development Plan VIII. The program also assisted with formulating a Direct Power Purchasing Agreement (DPPA) pilot program, which is expected to attract more private capital in the renewable energy industry and increase Vietnam’s contribution to climate change mitigation. In addition, the project has worked closely with MoIT in developing Minimum Energy Efficiency Performance Standards to reduce energy consumption in industrial production. In the next five years, the USAID will collaborate with the MoIT through the V-LEEP II to help Vietnam continue its transition to a clean, secure, and market-based energy sector. The plan will include increasing the deployment of advanced energy systems, improving energy sector performance, and increasing competition in the energy sector. (Lao Dong,,,