The new funding supports USAID’s ongoing efforts to reduce risk and transaction costs for project developers to encourage increased private sector investment in Viet Nam’s renewable energy development-a key driver of economic growth and resilience.

The TSV and Asia Renewables’ onshore wind farms (350MW) in the Central Highlands province of Gia Lai, including producing an optimized wind turbine generator layout design, conducting a finance-grade pre-construction energy yield assessment, the preparation of pre-construction documentation, and the development of the necessary tendering package for construction.

The INGINE Pacific's pilot off-grid wave technology on Ly Son Island, in the central province of Quang Ngai, including conducting an environmental and social impact assessment, which will help INGINE Pacific minimize the risk of interruptions to project implementation, optimize project management for more efficient and cost-effective operation, and maximize local development benefits such as encouraging the practice of good corporate citizenship.

The Bamboo Capital Group's (BCG) offshore wind farms in the southern provinces of Ca Mau (300MW) and Tra Vinh (200MW), including conducting feasibility studies and environmental and social impact assessments that meet international standards in order to assist BCG Energy as it seeks international financing.

The funding is being provided through USAID INVEST, a global USAID initiative that helps reduce barriers for investors to mobilize and channel private capital into high-impact areas.

Through USAID INVEST, USAID seeks to stimulate increased international investment in Viet Nam and to strengthen the capacity of the public and private sectors to work together to finance the country’s development priorities, including mitigating the impacts of climate change by supporting Viet Nam’s transition to clean energy systems.