Nguyen Van Giau, the governor of SBV and the Victoria Kwakwa, World Bank director in Vietnam have signed an agreement on June 16, 2009.
Most of 25 mini-projects are small-sized hydro-power plants, which are developed to generate a combined capacity of 250 megawatt (MW). These plants are projected to generate 2,900 MW of electricity each year. The other renewable energy developments included in the project are bio-gas and wind energy development projects.
As per the agreement, the project will assist Vietnamese agencies to develop their policies and measures to develop renewable energies as well as improve the management and control of renewable energy projects.
The Ministry of Industry and Trade, the Bank for Investment and Development of Vietnam (BIDV), the Bank for Foreign Trade of Vietnam (Vietcombank) and the Saigon Thuong Tin Commercial Bank will collectively implement the project.
Kwakwa has reported that the project will assist the government to expand its power supplies and control the impact of climate change on the environment. Improved conditions for private investors will also be created by the project and allows getting involved in project and increases the advantages to the consumer.
