The U.S. Agency for International Development (USAID) launched last week a US$36 million project to help promote the use of clean energy in Vietnam.
U.S. Ambassador Marc Knapper joined Vietnamese Deputy Minister of Industry and Trade Dang Hoang An and USAID Mission Director Ann Marie Yastishock to launch the flagship clean energy project at a conference in Hanoi on Friday, the USAID said in a press release.
U.S. Vice President Kamala Harris first announced the project during her visit to Vietnam in August 2021.
Named Vietnam Low Emission Energy Program II (V-LEEP II), the $36 million project builds on the success of V-LEEP I, which ran from 2015 to 2020.
V-LEEP II will continue its work with Vietnam’s Ministry of Industry and Trade to increase clean energy deployment, through mobilization of private sector investment, project design support for developers, and technical assistance for lenders.
The new project aims to support 2,000 megawatts of renewable energy commissioned between 2020 and 2025 through private sector engagement.
The USAID and Vietnamese government will also continue collaboration to improve energy planning and operation practices to enhance energy sector performance.
“The U.S. government is proud to be a partner to Vietnam in its clean energy transition journey,” Ambassador Knapper said at the event. “This USAID V-LEEP II program will be a cornerstone of U.S. support to Vietnam in achieving your climate change commitments.”
“Through V-LEEP II, USAID will continue to support Vietnam’s transition to a clean, secure, and market-based energy sector,” said USAID Mission Director Yastishock.
Through V-LEEP I and continuing with V-LEEP II, USAID supports Vietnam in designing and implementing a strategic plan as the country moves away from a coal-based power system to a greener, cleaner system based on renewable energy and natural gas.