World Bank supports Vietnam in Solar Pilot Auction Program
(VOVWORLD) - The Global Infrastructure Facility (GIF)’s Governing Council has approved 1.5 million USD in funding for the World Bank and Vietnam to carry out the Solar Pilot Auction Program, the World Bank said on Wednesday.
 GIF and WB will help Vietnam carry out the Solar Pilot Auction Programme. (Photo: congthuong.vn) |
The GIF, working with the World Bank’s Energy Global Practice, will help the Vietnamese government to design and structure the Auction Program to transition from a feed-in tariff regime to a sustainable competitive auction scheme for solar generation. The program will help to address Vietnam’s increased demand for energy and promote inclusive growth by strengthening the enabling environment for the private sector.
The Ministry of Industry and Trade’s Solar Competitive Bidding Program is part of the government’s efforts to accelerate investments in energy efficiency and renewable energy to increase Vietnam’s diversification of electricity generation and reduce carbon dioxide emissions. Vietnam aims to bring 12 gigawatts of solar energy onto the grid by 2030.