Professional assistance provided for Vietnamese clean energy projects

Energy

On behalf of the United States Agency for International Development (USAID) as well as Development Alternatives Incorporated (DAI Global), the government of Vietnam has welcomed expressions of interest (EoI) from builders of renewable energy projects in search of technical assistance. The operation is focused on the fact that green energy companies will be much more likely to participate in new technologies to help the nation fulfill its energy requirements if the risk cost can be covered with USAID funding. To receive assistance, businesses should apply bids detailing the form of funding expected to cover the cost of risk as well as transaction and how the assistance of the USAID would help grow clean energy projects. 

Support for technical assistance covers feasibility assessments, consulting services on fund transactions, environmental evaluations, legal advisory services, as well as other operations. INVEST will offer technical assistance to the chosen companies, depending on the objectives of the specified EoIs.  The principles should be for a single operation that does not exceed $300,000 (~₹ 22.02 million) in valuation. Interested bidders can provide a presentation on the working history of the Vietnam applicants, the planned green energy scheme, the obstacles to external assistance needed, and how it would help the underserved community. The final day for bids to be submitted is 16 January 2021.

INVEST will gain additional knowledge to overcome better the particular barrier based on the challenges or needs found in the EoIs. As per the USAID Nation Growth Partnership Plan 2020-2025, the electricity market expenditures will need to rise significantly to about $8 (~ ₹587.3 billion)-$10 billion (~ ₹734.09 billion) yearly by 2030 to keep pace with the growing energy demand. The Government of Vietnam expects power shortages are starting in 2021 without international resources, technology, and skills, adversely impacting economic development. To further promote the growth of green energy ventures, Vietnam INVEST will include entrepreneurs, investors, and in-kind funding, and other entities with planned programs in Vietnam. 

Solar, hydropower, geothermal, biomass, wind, and waste energy ventures will be available for evaluation according to the tender document. The projects mentioned above should be based in Vietnam. The EoI should identify the particular operation for which the assistance was sought and clarify how the green energy initiative would be progressed. The bidder would also need to include the cost estimation for the assistance required. Centered in Washington, D.C., the flagship blended finance initiative of USAID is INVEST. It has developed a network of around 250 partners that offer on-demand the niche, strategic expertise USAID requires. INVEST has sponsored enterprise growth transactions, infrastructure as well as financing devices or funds in over 20 nations.

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