WB commits to continue providing capital support for Vietnam to implement renewable energy projects.

On the afternoon of October 1, 2024, the Ministry of Industry and Trade had a working session with representatives of the World Bank (WB). Deputy Minister of Industry and Trade Nguyen Hoang Long chaired the meeting.

Deputy Minister of Industry and Trade Nguyen Hoang Long highly appreciated the WB's efforts in Vietnam in recent times. Photo: Phong Lam

Speaking at the opening of the working session, Deputy Minister of Industry and Trade Nguyen Hoang Long highly appreciated the WB's efforts in supporting capital and technical resources for many projects serving Vietnam's socio -economic development in general, and energy infrastructure development projects implemented by the Ministry of Industry and Trade in particular.

Deputy Minister Nguyen Hoang Long also emphasized that the Ministry of Industry and Trade always creates the best conditions for cooperation activities between the WB and the Ministry to take place smoothly and achieve the highest efficiency.

On the WB side, Ms. Mariam Sherman, WB Country Director for Vietnam, Laos and Cambodia, said that recently, the WB has participated in many projects to support Vietnam in developing smart transport systems and promoting renewable energy development, contributing to helping Vietnam achieve sustainable development goals.

Ms. Mariam Sherman, World Bank Country Director for Vietnam, Laos and Cambodia at the working session. Photo: Phong Lam

In the future, the WB will continue to support capital, technology, and even experts for projects, especially renewable energy projects that the two sides are implementing.

At the working session, the Ministry of Industry and Trade and the World Bank discussed the implementation of cooperation projects, difficulties and obstacles, and proposed solutions to promote cooperation projects on energy infrastructure construction that the two sides are implementing.

During the meeting, the two sides focused on in-depth discussions on the REACH project, difficulties, obstacles and solutions to speed up the implementation of this project.

Working session scene. Photo: Phong Lam

The two sides also made strong commitments to implementing solutions to realize cooperation agreements and deploy projects in the most thorough and effective manner.

The Renewable Energy Integration Enhancement Project (REACH) aims to improve system operation and transmission capacity, integrate and sustainably develop renewable energy sources, and mobilize investment from the private sector.

The REACH project includes two components:

Component 1: Transmission grid projects to enhance renewable energy integration, including: 500kV Krongbuk – Tay Ninh 1 Line; 500kV Bac Chau Duc Transformer Station and Connection; 220kV Phuoc Dong Transformer Station.

Component 2: Power system dispatching management – ​​SCADA/EMS project phase 4.

Source: https://congthuong.vn/wb-cam-ket-tiep-tuc-ho-tro-von-cho-viet-nam-thuc-hien-cac-du-an-ve-nang-luong-tai-tao-349541.html