USAID Supports Vietnam’s Clean, Smart and Secure Economic Growth through Direct Power Purchase Agreements

Thursday, November 16, 2017

Vietnam seeks to ramp-up renewable energy generation from solar and wind power to 1,650 megawatts (MW) by 2020 and to 18,000 MW by 2030. In order to accomplish this, USAID and Vietnam’s Ministry of Industry and Trade (MOIT) are working together to allow private sector electricity buyers and renewable energy providers to enter into Direct Power Purchase Agreements (DPPA). The DPPA mechanism will allow businesses to competitively procure renewable energy in Vietnam while also creating new business opportunities for world-class clean energy technologies. On November 8, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Vietnam, senior business leaders from global businesses, including ABB, Nike, Citibank and Unilever, affirmed their urgent need for access to renewable energy and committed to work with USAID and MOIT to help accomplish this goal. U.S. government officials celebrating the DPPA announcement included Department of State Under Secretary for Political Affairs - Thomas Shannon; Acting Director of the U.S. Trade and Development Agency - Thomas Hardy; President and CEO of the Overseas Private Investment Corporation - Ray Washburne; U.S. Ambassador to Vietnam - Daniel Kritenbrink; U.S. Consul General - Mary Tarnowka; and USAID Vietnam Mission Director - Michael Greene. So What? As USAID works with Vietnam to achieve climate smart development, expanded and simplified access to renewable energy will attract new foreign investment to Vietnam’s energy sector and allow participating companies and the Vietnamese Government to  achieve their shared goals on environmental protection, economic growth, and energy security.

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Last updated: November 17, 2017

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