Vietnam Renewable Energy Development Project

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The objective of the Renewable Energy Development Project for Vietnam is to increase the supply of electricity to the national grid from renewable energy sources on a commercially, environmentally, and socially sustainable basis. There are three components to the project. The first component of the project is renewable energy investments. There are two sub-components to the component. The first sub-component of the project is credit to support renewable energy investments. This sub-component will provide a re-financing facility to participating commercial banks (PBs) for loans to eligible renewable-based projects not exceeding 30MW developed by private sponsors. The second sub-component of the project is technical assistance for investment implementation. This subcomponent will provide technical assistance for application review, monitoring the eligibility of PBs and developers, project management by Ministry of Industry and Trade (MOIT) and for building the capacity of PBs and developers to prepare, appraise, finance, and implement renewable-based projects according to international best practices. The second component of the project is regulatory development. This component will provide technical assistance for developing the regulatory infrastructure and building the requisite capacities of MOIT, the electricity regulatory authority of Vietnam, and other relevant government agencies for renewable energy development particularly for grid-connected electricity generation projects not exceeding 30 MW. The third component of the project is pipeline development. This component will support activities to facilitate the development of further renewable energy projects contributing directly to building a pipeline of renewable energy projects.