Thursday, 19/09/2024 | 08:25
Introduction
VIETNAM SCALING UP ENERGY EFFICIENCY PROJECT
Vietnam Scaling up Energy Efficiency Project is financed by the Green Climate Fund with total of USD 11.3 million through the World Bank. The Ministry of Industry and Trade is the project governing agency.
Overall objective
The Project aims to promote energy efficiency in the Vietnam’s industrial sector and contribute to achieving national target on energy efficiency and conservation, ensuring energy security and implementing tasks, actions to reduce greenhouse gas emissions and respond to climate change.
Specific objectives
- Piloting implementation of credit guarantee mechanism for energy efficiency investment projects, removing barriers to accessing commercial loans, creating motivation to mobilize finance resources, promoting the implementation of projects, developing the energy-saving investment market.
- Promote energy efficiency projects through piloting risk-sharing mechanism in investing and implementing energy-saving projects.
- Support the implementation of the goals of the National Energy Efficiency Program (VNEEP).
- Capacity building for relevant stakeholders, including central and local agencies, industrial enterprises, commercial banks, and energy service companies.
- Support and improve capacity for the implementation of the Nationally Determined Contribution and Paris Agreement in energy and industrial sectors
Beneficiaries
- Industrial Enterprises
- Participating Financial Institutions
- Local Agencies and Units participating in the Project
Project timeline
From March 2022 to January 2026
Project structure
Component 1: GCF Risk Sharing Facility:
- Finance: USD 3 Million.
- Main tasks: With a total fund of USD 75 million, the Risk Sharing Fund provides partial guarantees (up to 50%) of credit risk to participating financial institutions to guarantee loans for industrial enterprises to invest in energy efficiency projects
Component 2: Technical Assistance
- Finance: USD 8.3 million
- Main tasks: Mobilize about USD 250 million for the energy efficiency investment market in the industrial sectors; Saving 1.58 million TOE per year from the end of the Project; Reduce 6.9 million tons of CO2 emissions per year from the end of the Project.
Implementation organization
| Contact Information Management Board of the Vietnam Scaling Up Energy Efficiency Project Address: Room 309, Building B, Ministry of Industry and Trade, 54 Hai Ba Trung street, Hoan Kiem district, Hanoi Tel: 024 2220 2530 |
Component 1
Finance: USD 3 million
Main tasks: With a total fund of USD 75 million, the Risk Sharing Fund provides partial guarantees (up to 50%) of credit risk to participating financial institutions to guarantee loans for industrial enterprises to invest in energy efficiency projects.
Results:
- Mobilize about USD 250 million for the energy efficiency investment market in the industrial sectors
- Saving 1.58 million TOE per year from the end of the Project
- Reduce 6.9 million tons of CO2 emissions per year from the end of the Project
Component 2
Finance: USD 8.3 million
Main tasks:
- Develop mechanisms, policies, solutions and promote the application of energy management solutions
- Capacity building for managers and technicians of Ministries, branches, localities, industrial parks, and key energy consumption establishments
- Capacity building for Participating Financial Institutions and Project Implementing Entity
- Capacity building for Industrial Enterprises and Energy Service Companies
- Support the implementation of the commitment of Nationally Determined Contribution in energy and industrial sectors
Results:
- Supplement, consolidate, and finalize mechanisms, policies, technical standards and regulations on energy efficiency;
- Develop the energy efficiency targets of the industrial sectors;
- Develop and issue technical guidelines for applying energy management solutions to industrial sectors;
- Formulate and organize the implementation of training and capacity building programs on energy saving and greenhouse gas emission reduction;
- Implement activities to support the implementation of the Paris Agreement on climate change
PROJECT RESULT
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ENERGY SAVING
MWh/year
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EMISSION REDUCTION
ton CO2/year
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DISBURSEMENT
VND
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Number of enterprises benefited
-
Number of subprojects assisted
