The Government of Vietnam has secured more than USD7 billion to support its Just Energy Transition Partnership (JETP) goals, aimed at achieving net-zero emissions by 2050. The update was provided during a coordination meeting in Hanoi involving the JETP Secretariat, the International Partners Group (IPG), and Glasgow Financial Alliance for Net Zero (GFANZ).
Three major projects have already received IPG funding: EUR67 million for a 500 kV power line through Ho Chi Minh City and Dong Nai, EUR480 million for the Bac Ai pumped-storage hydropower plant in Khanh Hoa, and EUR65 million to upgrade the Tri An hydropower plant.
An additional 21 projects are under review, bringing the JETP-aligned pipeline to 24, requiring a combined USD7.04 billion in funding.