The Government of Vietnam and the International Partners Group (IPG) have identified 24 energy projects as eligible for support under the Just Energy Transition Partnership (JETP), with an estimated investment need of over USD7 billion. The announcement was made during a coordination meeting in Hanoi involving Vietnam’s JETP Secretariat, the IPG, and other stakeholders. The initiative aligns with Vietnam’s goal of achieving a low-carbon and climate-resilient energy future.
So far, three energy projects in Vietnam have secured international financing under the JETP framework. These include a EUR67 million credit line for a 500 kV transmission line passing through Ho Chi Minh City and Dong Nai, a EUR480 million facility for the Bac Ai Pumped Storage Hydropower Project in Khanh Hoa, and a EUR65 million loan for upgrading the Tri An Hydropower Plant in Dong Nai. More projects, especially those outlined in the National Power Development Plan VIII (2021–2030), will be reviewed for future support.
The JETP, launched in December 2022 at the ASEAN–EU summit in Brussels, provides a platform for Vietnam to mobilise international resources for a just energy transition. The IPG includes the EU, US, UK, Japan, Canada, Germany, France, Italy, Denmark, and Norway. Vietnam’s Resource Mobilisation Plan under JETP was also introduced at COP28 to accelerate progress toward the country’s net-zero emissions targets.