On April 28, USAID and Vietnam’s Ministry of Industry and Trade (MOIT) announced the completion of the five-year USAID Vietnam Low Emission Energy Program (V-LEEP). Through V-LEEP, MOIT and USAID worked together to enhance Vietnam’s capacity in developing long-term energy strategies, mobilizing private investments for renewable energy, and improving compliance in industrial energy efficiency. V-LEEP contributed to the mobilization of $311 million to support 300 megawatts from six private sector-led renewable energy projects. Over the last three years these projects reduced approximately 730,000 tons of greenhouse gas emissions, or the equivalent of about 806 million pounds of coal.
Through V-LEEP’s support and in close collaboration with researchers from the National Renewable Energy Laboratory and Hawaii Natural Energy Institute, USAID contributed to Vietnam’s Eighth Power Development Plan draft, as well as provided technical assistance for Vietnam’s future power grid. V-LEEP also assisted with formulating a Direct Power Purchasing Agreement pilot program which, after final approval, will enable private enterprises (e.g., Nike, AB InBev, Adidas) to partner with Vietnam to provide capital for new solar and wind development projects, and increase Vietnam’s contribution to climate change mitigation. USAID will maintain the momentum of V-LEEP and deepen its collaboration with MOIT through its new program, V-LEEP II.
With USAID’s assistance, Vietnam has made remarkable progress in renewable energy development. Over the next five years, USAID V-LEEP II will continue to support Vietnam on its transition to a clean, secure, and market-based energy sector by increasing the deployment of advanced energy systems, improving energy sector performance, and increasing competition in the energy sector.
Phuong Nguyen/USAID Vietnam
