WB-funded project helps renewable energy development in Vietnam

An overview of the workshop on renewable energy (Source: VNA)

The assessment was made at a conference to review the implementation of the project during 2009-2018 held by the Ministry of Industry and Trade (MoIT) in Hanoi on June 21.

REDP is sponsored by the WB and the Swiss State Secretariat for Economic Affairs with official development assistance (ODA) worth 204 million USD. It aims to develop renewal energies to connect with the national grid in order to serve sustainable development.

Nguyen Van Thanh, deputy head of the MoIT’s Electricity and Renewable Energy Agency, stated that the project is significant for the community and has provided all-round assistance for the Vietnamese Government in making renewable energy development policies and attracting investment in the field.

REDP has helped businesses to successfully invest in 19 small hydropower projects with total capacity of 320MW and combined electricity output of nearly 1.3 billion kWh annually, thus contributing to ensuring power supply during peak hours and for far-flung areas, he added.

Marcel Raymond from the Swiss Embassy in Vietnam said that Vietnam holds great potential in renewable energy. With technical assistance and low costs from the REDP, the country can compete well in renewable energy development.

A report summarising the implementation of the project showed that the project has helped several State agencies complete policies and institutions on renewable energy development and on how to use foreign aid in conformity with Vietnam’s situation.

It has also contributed to building a database on wind measuring and wind power development. 

With its current economic scale and annual economic growth of around 7 percent, Vietnam has huge demand for energy and electricity.

Therefore, developing renewable energy in Vietnam is essential to diversify primary energy supplies and protect the environment.

Source: VNA