Vietnam shortlists 24 energy projects under JETP

Vietnam and the International Partners Group (IPG) have identified 24 energy projects eligible for support under the Just Energy Transition Partnership (JETP), with an estimated investment requirement exceeding USD 7 billion. The update was shared during a coordination meeting in Hanoi involving Vietnam’s JETP Secretariat, the IPG, and other stakeholders.

The shortlisted projects align with Vietnam’s goal of advancing a low-carbon, climate-resilient energy system. Three energy projects have so far secured international financing under the JETP framework. These include a EUR 67 million credit line for a 500 kV transmission line through Ho Chi Minh City and Dong Nai, a EUR 480 million facility for the Bac Ai Pumped Storage Hydropower Project in Khanh Hoa, and a EUR 65 million loan for upgrading the Tri An Hydropower Plant in Dong Nai.

Additional projects from Vietnam’s National Power Development Plan VIII (2021–2030) will be reviewed for possible support under JETP.

Launched in December 2022 during the ASEAN–EU summit in Brussels, the JETP framework is intended to mobilise international finance for Vietnam’s energy transition. Members of the IPG include the EU, US, UK, Japan, Canada, Germany, France, Italy, Denmark, and Norway. Vietnam’s Resource Mobilisation Plan under the partnership was introduced at COP28 to help advance the country’s net-zero goals.