MoIT and Germany's GIZ sign deal to assist development of the renewable energy source in Vietnam.
The General Department of Energy under the Ministry of Industry and Trade (MoIT) and the German International Cooperation Organization (GIZ) have signed a $7.7 million agreement to support the expansion of wind power projects in Vietnam.
With total investment capital of over $7.7 million the support is expected to be available from now to 2018. It has three major features, including building a legal framework for the development of wind power, enhancing the capacity of those implementing wind power projects, and providing technology transfer and technology cooperation with partners in Vietnam.
At the signing ceremony the Deputy Minister of Industry and Trade Hoang Quoc Vuong said that Vietnam has recently been very active in developing programs in renewable energy and wind energy in particular, but achievement have fallen short of expectations.
He hoped, therefore, that the GIZ support would help to successfully develop Vietnam’s wind power sector into the future.
For her part, Ms. Annette Frick, First Secretary at the German Embassy in Vietnam, said that the signing of the support project expresses her government’s commitment to contributing to and assisting the development of renewable energy in Vietnam, especially wind energy.
The German Government, she added, has committed to continually support Vietnam’s power enterprises in overcoming difficulties and in creating a favorable environment to attract investment in wind power and other renewable energy sources.