The deal was signed in Hanoi between Beatrice Maser Mallor, ambassador of Switzerland, and Vietnam's Deputy Minister of Industry and Trade Hoang Quong Vuong. The project, which is funded by the World Bank and executed by the Ministry of Industry and Trade, aims to increase electricity supply for Vietnam's national grid from renewable energy sources, on a financially, environmentally and socially sustainable basis. The project comprises three components, including investment in renewable energy, regulatory framework development and renewable energy project pipeline development. … [Read more...] about Switzerland funds renewable energy development
Funds renewable energy
Accordingly, the CPF will purchase carbon credits generated by the World Bank-funded Renewable Energy Development Project (REDP) under the UN's Clean Development Mechanism (CDM). The CPF, with Sweden, Norway and Spain as buyer participants, will buy the first three million metric tons of carbon credits generated through small hydropower development under REDP, creating a revenue stream for the projects. The REDP is a USD202 million credit from the International Development Association, the World Bank Group's concessional lending window. "This is a good example of how a climate finance program can demonstrate the synergies between climate change mitigation and renewable energy development. Carbon credits will help create a revenue stream that enhances the financial attractiveness of private investments in renewable energy, by providing performance-based payments in hard currency", said Ms Victoria Kwakwa, World Bank Country Director for Vietnam. To date, the Vietnam's Ministry of … [Read more...] about USD202 million for Vietnam’s renewable energy development
A Senior Vietnamese trade official has called for greater flows of capital into the developing economies of APEC including Vietnam for the development of renewable energy, which is playing a bigger role in sustainable socio-economic development in each country as well as the globe. Luong Hoang Thai, Head of the Multilateral Trade Policies Department of the Ministry of Industry and Trade, stated his view at a seminar in Hanoi on June 4. The event saw the participation of financial and banking experts, policymakers and entrepreneurs from Asia-Pacific Economic Cooperation member economies as well as scholars from the Organisation for Economic Cooperation and Development and the United Nations Environment Programme. The trade official cited the fact that the renewable energy sector is relatively new to third world countries, including Vietnam. It makes up a modest proportion of total energy supply compared to the 15 percent in developed nations. Meanwhile, the majority of the … [Read more...] about Hanoi hosts seminar on renewable energy development aid
VietNamNet Bridge - Using renewable energy has become a growing tendency in the world, especially when fossil fuel sources are becoming exhausted. However, renewable energy has not been widely used in Vietnam. Solar energy Kim Dinh Company in Hanoi, an energy equipment supplier, occasionally gets the orders to install public lightening systems used wind or solar power. Meanwhile, its main products are energy saving LED lamps and some other kinds of products. … [Read more...] about Renewable energy, why not?
UN chief Ban Ki-moon made a call to double global consumption of renewable energy over the next two decades in order to ensure sustainable economic development. "It's possible if we show political leadership," Ban said about the goal that falls under a sustainable energy initiative aiming to have universal access to power by 2030. Currently, renewable energy accounts for about 16 per cent of world consumption. "We have to be very austere in using energy... We have to completely change our behavior, at home, at the office," the UN secretary-general added at an event hosted by the Center for Global Development think-tank in Washington. About 1.3 billion people on Earth -- a fifth of the global population -- lacks access to electricity, while 2.7 billion do not have clean fuel to cook their food and heat their homes, relying instead on open fires or furnaces that burn coal, wood or animal waste. "Energy is central to jobs, transport, water, sanitation... climate," Ban said … [Read more...] about UN calls for doubling renewable energy by 2030