The US Agency for International Development (USAID) on November 1 announced a new project promoting urban energy security in Vietnam at an event held in HCM City.
USAID Deputy Administrator Bonnie Glick speaks at the event held in HCM City to announce the US$14 million USAID Vietnam Urban Energy Security project
The event was attended by USAID Deputy Administrator Bonnie Glick, USAID/Vietnam Mission Director Michael Greene, leaders of the Ministry of Industry and Trade (MOIT)’s Electricity and Renewable Energy Authority, and HCM City’s Department of Industry and Trade.
USAID Vietnam Urban Energy Security is a US$14 million project that will promote the deployment of advanced, distributed energy solutions in select urban areas in Vietnam from 2019 to 2023, including HCM City.
It will address Vietnam’s rapidly growing energy demand and air pollution in urban areas by working with city governments and creating business opportunities for entrepreneurs.
The project will support deployment of advanced distributed energy solutions such as household rooftop solar technology, next-generation battery storage technology, and cleaner forms of transportation.
Energy demand in Vietnam is increasing by 10 per cent annually, making it critical for the country to use modern, clean energy technologies to sustain its impressive economic growth and protect human health and the environment.
Since 2017, USAID and MOIT have worked together to modernise national energy policies, including the introduction of a Direct Power Purchase Agreement and expansion of renewable energy and natural gas utilization under the eighth Power Development Plan.
At the event, USAID Deputy Administrator Glick donated PLEXOS software and associated hardware to MOIT. These state-of-the-art tools will allow MOIT to simulate electrical utility operations over a multi-year period to set optimal generation and transmission targets.
Business leaders have also expressed their desire to work with USAID and the Vietnamese Government to generate increased private sector investment in the energy sector and assist the country to meet its energy security goals.
Source: vov