Vietnam is drafting the Just Energy Transition Partnership (JETP) Resource Mobilization Plan (RMP) in order to prioritize renewable energy projects for implementation in 2024-2030.
The JETP is the political declaration that Vietnam and the G7 countries have signed up together in assisting the Asian country in green energy transitions.
The international partners committed to mobilizing funds to address Vietnam’s just energy transition needs, including 7.75 billion USD from the International Partners’ Group (IPG), including Canada, France, Germany, Italy, Japan, the UK, the US, the EU, Denmark, and Norway, and at least 7.75 billion USD from the Glasgow Financial Alliance for Net Zero (GFANZ).
According to the Vietnam Plus, the amount for the next phase could be higher if Vietnam effectively uses the initial funds and meets the conditions of international partners and financial regulations.
The ultimate goals of Vietnam’s JETP is to attract more investments in renewable energy sectors as well as establishing the country to be the renewable energy center.
Source: Vietnam Plus