USAID to Mobilize $3B to Fund Energy Projects in Vietnam in Next 5 Years

The United States Agency for International Development (USAID) would mobilize $3 billion to fund energy projects in the next five years, the local Nguoi Dua Tin newswire quoted USAID/Vietnam Mission Director Ann Marie Yastishock as reporting. Ms. Yastishock gave the information at the and the Vietnam Wind Power Conference 2021 in Hanoi on November 30. The events were organized by the Vietnamese Ministry of Science and Technology (MoST), the Ministry of Industry and Trade (MoIT), and the Global Wind Energy Council (GWEC). With such investment, USAID hopes to enhance renewable energy cooperation with Vietnam in 2020-2025 and help the country achieve the net-zero target. At the Vietnam Technology and Energy Forum 2021, which will last until December 2, Deputy Minister of Science and Technology Tran Van Tung highlighted Vietnam’s potential in developing clean and renewable energy sources, such as wind power and solar power. The country has room for around 217 gigawatts (GW) of onshore wind power, 160 GW of offshore wind power, about 434 GW of solar power, and five GW of biomass energy. Mr. Hoang Tien Dung, head of the MoIT’s Electricity and Renewable Energy Authority, said that Vietnam will focus on investment in various renewable sources to raise the capacity to 20,000 megawatts (MW) by 2030. The country targets clean power sources to contribute 75% of the total capacity and 70% of the total electricity output by 2045. At the Vietnam Wind Power Conference 2021, the participants will discuss policies to promote onshore and offshore wind energy development in Vietnam and seek opportunities to access global technologies and solutions. (Nhan Dan, Nguoi Dua Tin, Lao Dong, VnExpress, VOV)