The British Embassy in Hanoi on March 27 announced nine low carbon projects from across Vietnam as the first cohort to join Climate Finance Accelerator (CFA) Vietnam.
Illustrative image (Source: VNA)
Hanoi (VNA) – The British Embassy in Hanoion March 27 announced nine low carbon projects from across Vietnam as thefirst cohort to join Climate Finance Accelerator (CFA) Vietnam.
The selected projects represent diverse sectors suchas renewable energy, resource/energy efficiency, e-mobility, AFOLU(agriculture, forestry and other land uses), decarbonising construction,circular economy, and waste management; and have the potential to benefitcommunities across Vietnam.
To improve project readiness and opportunity toattract investment from Vietnamese and international investors, the projectswill receive tailored one-to-one and group support. This will include advice ontechnical aspects, financial models, and pitch material, as well as advice onenhancing gender equality and social inclusion (GESI).
The CFA is part of the UK Government’s efforts to helpVietnam meet the commitments made by Prime Minister Pham Minh Chinh at COP26 inGlasgow in 2021, and offer support to implement the Vietnam Just EnergyTransition Partnership (V-JETP) that was agreed in December 2022.
British Ambassador to Vietnam Iain Frew said “Theexciting and innovative projects selected to be part of CFA Viet Nam underlinethe significant potential of the Vietnamese private sector to help tackle theclimate crisis. The expertise shared with these projects will help move themcloser to finding investment, leading to reductions in carbon emissions forcommunities across the country.”
The first cohort of CFA Vietnam programme include BluePlanet Environmental Solutions, a producer of biogas from rice straws using adry-digestion system; Control & Automation Solutions, a tech companyproviding automation solutions in the energy and agriculture sectors with twosmart agriculture projects participating in the CFA Vietnam; Dat Bike, Vietnam’sfirst domestic electric motorbike company, whose proposed project aims tomanufacture modern, tech-driven electric bikes for the mass market and developsolar-powered battery charging infrastructure.
Others include Deep C Green, a subsidiary of Deep CIndustrial Park - an aspiring eco-industrial park in Vietnam; Egreen TechnologyJSC, a supplier of biogas electricity for livestock farms; Hoa Binh High TechEnvironment Joint Stock Company, a company in industrial waste management usingcircular economy principles; Power Engineering Consulting Joint Stock Company 4;Vietnam Sustainable Materials Corporation; and VRB Energy, a large-scaleintegrated Vanadium Flow Battery (VFB) producer./.
VNA
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Illustrative image (Source: VNA)