Viet Nam Renewable Energy Accelerating Change

dropped

Failure

The Renewable Energy Accelerating Change (REACH) Project mobilizes public financing to alleviate grid constraints hampering deployment of VRE. The scope of the proposed project has been crafted to focus on the most urgent transmission and system needs that are complementary to ongoing and planned investments in VRE generation. The electricity grid needs to be upgraded to: (i) sustainably integrate without curtailment existing privately-owned VRE projects, and (ii) unlock GWs of new privately-owned VRE projects. The projected VRE deployment growth will require continuous investments to modernize and transition the system for successfully adopting these new disruptive technologies. The REACH Project is also part (finances a sub-set of these investments) of the public investments for grid capacity upgrades that are being proposed under PSDP 8. Additional investments needed to upgrade the grid capacity under the plan would be mobilized through EVN’s own resources or through borrowing from local and international partners. This could also include follow-on financing from the World Bank as part of a series of investments in the coming years. The REACH Project has two components: (i) Component 1: Grid Strengthening for VRE Integration; and (ii) Dispatch Management. The investments financed under the project aim at reducing existing and future curtailment of VRE projects (900MW of which 300 MW of onshore wind and 600MWp of solar) and unlocking the space in the grid for new VRE projects (2.6 GW of which 1 GW of onshore wind and 1.6 GW of offshore wind). Based on the analysis conducted, the sub-projects being proposed are the ones that would have the most immediate impact on expanding VRE integration capacity of the grid.

FY17 - Energy and Extractives

World Bank Group

Project

Solar, Power Generation (CCGT), Wind, Government