For nearly a decade now, Vietnam has made “payment for forest ecosystem services” its key strategy for protecting forests and improving the lives of poor rural communities. Now, it plans to use the same model to help rein in greenhouse gas emissions.
Vietnam is rising as Southeast Asia’s new wind hero, with power capacity soon to dwarf that of all other Asean nations and the world’s biggest offshore wind farm to be built off its windy coast, but challenges remain.
Vietnam’s government has boasted of a number of grid upgrades have been completed by monopoly utility EVN ahead of schedule, but the transmission network still has a long way to go to catch up with renewable energy additions.
The Asian Development Bank (ADB) has signed a $37 million loan agreement with Da Nhim–Ham Thuan–Da Mi Hydro Power Joint Stock Company (DHD) to finance the installation of a 47.5-MW peak floating photovoltaic (PV) solar facility on the man-made reservoir of DHD’s existing 175-MW Da Mi hydropower plant.