US launches project to help HCM City accelerate its green growth

VOV.VN - The US Mission to Vietnam, through the US Agency for International Development (USAID), and Ho Chi Minh City People’s Committee on September 20 launched a project to accelerate renewable energy and energy efficiency solutions to the city’s urban energy challenges.

Joining in the launch celebration were USAID/Vietnam Mission Director Aler Grubbs, HCM City People’s Committee Vice Chairman Vo Van Hoan, Acting Consul General Graham Harlow, General Director of HCMC Department of Industry and Trade Bui Ta Hoang Vu, and representatives from provincial departments.

“The United States is at the forefront of supporting Vietnam’s transition to a clean, secure, and market-driven energy sector,” said USAID/Vietnam Mission Director Grubbs at the event. “Through our latest energy project, we are proud to partner with Ho Chi Minh City to power its green growth through more renewable energy and energy efficiency solutions. Together, we will attract green investments that bring a cleaner environment and lower energy costs to residents, and further cement Ho Chi Minh City’s role as a driver of Vietnam’s green economy.”

 The United States and Vietnam are approaching 10 years of Comprehensive Partnership, and this event demonstrates how our two countries work together to address a growing demand for cleaner, more reliable energy options.

The new US$14 million project, called USAID Vietnam Urban Energy Security, works with the Ho Chi Minh City and Danang city governments to improve urban planning related to clean energy, mobilize investment, and integrate clean energy solutions into the power system. 

These include rooftop solar, electric vehicles, waste-to-energy, and other energy efficiency solutions. For HCMC, the project plans to deploy at least 400 megawatts of clean energy, mobilize at least US$540 million in public and private investments, and take at least 15 innovative solutions to urban energy issues to market.

The project builds on prior years of USAID assistance to Vietnam for its clean energy transition. For instance, over the past five years, USAID support to government regulators, banks, investors, and private sector developers helped spur solar and wind investments in Vietnam totaling more than US$300 million.

In addition, USAID supported the Government of Vietnam in developing its Power Development Plan #8, which sets the overarching vision and operating principles for Vietnam’s power sector from 2021 to 2030.

USAID also worked closely with the Ministry of Industry and Trade (MOIT) to develop Minimum Energy Efficiency Performance Standards to reduce energy consumption in industrial production.