Vietnam Positioning Itself As Clean Energy Center

Vietnam, looking north at China’s mistakes on its march to economic supremacy, is trying to balance environmental and business interests by positioning itself as a destination for clean energy investors.  So far, US-based First Solar is investing $1 billion and creating 600 jobs, IC Energy has committed $390 million, and German Roth&Rau $14 million in solar factories in Vietnam.

Wind power projects include GE’s $200 million wind power plant in Bac Lieu Province, and Germany’s EAB plant in Tra Vinh Province — both in the Mekong Delta.  And Germany is putting one-third of its official development assistance capital into Vietnam’s energy sector and climate change. 

The World Bank says Vietnam has great wind power  potential — while the country’s electricity consumption is forecast to increase much faster than its projected output.

Foreign investors focused on clean energy include Indochina Capital, which  plans to mobilize $200 million for wind, solar, small hydropower plants and energy saving projects.; Dragon Capital, which has a $45 million recycling and clean water fund; and IFC and Norwegian SN Power that are focusing on recycling.

More on Vietnam’s clean energy ambitions

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