US Charge d'Affaires to Vietnam Christopher Klein speaking at the event - Photo source: USAID.
V-LEEP project has been implemented in the period 2016 - 2020.
The development of renewable energy in Vietnam in recent years has made a great contribution from the private sector, especially in the development of solar power sources. Through the V-LEEP project, the Ministry of Industry and Trade and USAID have collaborated to enhance Vietnam's capacity in developing long-term energy strategies, mobilizing private investment in the renewable energy sector, and improving the compliance with regulations on industrial energy efficiency.
The project has contributed to the mobilization of USD 311 million to successfully develop 300MW of wind and solar power with 6 projects invested by the private sector. Over the past three years, thanks to these renewable energy projects together with the energy saved through energy efficiency solutions, the project has contributed to reducing emissions of about 730,000 tons of greenhouse gases, equivalent to about 730,000 tons of greenhouse gases, equivalent to over 365 million kg of coal.
In the coming time, USAID will continue to promote the successes gained in the V-LEEP project and strengthen the cooperation relations with the Ministry of Industry and Trade through the new project, V-LEEP II. Accordingly, in the next 5 years, the V-LEEP II project will support Vietnam to continue its transition to clean, secure and market-based energy by enhancing the deployment of advanced energy systems, improving improve energy efficiency and increase competitiveness in the sector.