Energy demand in Vietnam is currently increasing by 10 percent annually, making it critical for the country to use modern, clean energy technologies to sustain its impressive economic growth and protect human health and the environment. Hence, for the past three years, USAID’s Vietnam Low Emissions Energy Program (V-LEEP) worked with government regulators, banks, investors, and private sector developers to help facilitate solar investments under a government supported initiative.

This contributed to the massive solar investments, and Vietnam grew from producing less than 10 megawatts (MW) in 2016 to over 4,300 MW in 2019, with solar energy now making up more than 10 percent of the country’s power capacity.  In addition, USAID worked with five Vietnamese investors to build and grid-connect five high quality, large-scale solar energy farms that serve as model projects. Amongst the first of their kind in Vietnam, these model projects used U.S. technologies and expertise, attracted $259 million of mostly Vietnamese private capital, and now generate 263 MW of clean energy capable of powering over 150,000 homes.

So What? With USAID support under Asia EDGE, private companies in Vietnam are generating more solar and wind power, which improves Vietnam’s energy security and is key to modernizing the energy sector.