WB-funded project supports Vietnam’s renewable energy development

(VOVWORLD) -The Renewable Energy Development Project (REDP) worth 204 million USD has helped Vietnamese enterprises develop renewable energy projects and state agencies improve policies and overcome difficulties in mobilizing funds for renewable energy development.
WB-funded project supports Vietnam’s renewable energy development 	 - ảnh 1The project assessment conference opens on June 21, 2018 in Hanoi

The assessment was made at a conference to review the 10-year implementation of the project held by the Ministry of Industry and Trade (MoIT) in Hanoi on Thursday. REDP is sponsored by the WB and the Swiss State Secretariat for Economic Affairs. It aims to develop renewal energies to connect with the national grid in order to serve sustainable development.

“With its large population, current economic scale and an annual growth of around 7 percent, Vietnam has huge demand for energy and electricity. From an energy exporter, Vietnam has become an energy importer and more reliant on coal and liquidified gas imports. Therefore, developing renewable energy in Vietnam is essential to diversify supplies and protect the environment. The project is significant for the community and has provided all-round assistance for the Vietnamese government in policy-making and investment attraction.”, said Nguyen Van Thanh, Deputy Head of the MoIT’s Electricity and Renewable Energy Agency: