On June 27, a hybrid consultation meeting on “Development of refinancing mechanism for bioenergy projects in Viet Nam” was organized.  

In the opening speech, Ms. Nguyen Thi Thuy – representative of the Department of Electricity and Renewable Energy – Ministry of Industry and Trade said “The consultation session aimed to develop a proposal for a refinancing mechanism, financial options and loanability criteria for biomass power plant projects in Vietnam based on funding criteria for renewable energy projects. create and contribute to the implementation of Viet Nam’s commitments at COP26′  

At the consultation, after the introduction on the bioenergy potential of Viet Nam, the biomass energy potential in Hau Giang province, sharing their experiences on refinancing the bioenergy projects from a Vietnamese financial institution, the project’s national and international consulting groups shared international experiences on refinancing mechanisms and financial sources for bioenergy projects. The consultation focused on presenting the study results related to the status and proposed refinancing mechanism for bioenergy projects in Viet Nam. The recommendations for domestic financial institutions to actively seek foreign capital sources for refinancing of bioenergy projects.     

In particular, Mr. Pham Van Phuong – Head of Energy Division, Hau Giang Dept. of Industry and Trade emphasized on the potential of Biomass power projects and challenges in accessing financial resources and sharing of Ms. Nguyen Thuy Ha of the Vietnam Development Bank about experience on re-financing for Bioenergy projects from a financial institution perspective.   

Mr. Nathan Moore – Director of the “Climate Protection through Sustainable Bioenergy Markets in Viet Nam” (BEM) project emphasized that “We hope that this meeting and the resulting ideas for re-financing opportunities for Bioenergy projects in Viet Nam will stimulate further partnership between domestic and international financial institutions to efficiently channel our collective resources toward sustainable implementation of bioenergy power projects in Viet Nam, in line with the country’s ambitious climate and energy commitments.” 

The Consultation was attended by over 50 delegates, who are officials from the units under the Ministry of Industry and Trade; representatives from banks/ financial institutions, investors, technical assistance agencies and network of energy experts from international organizations, as well as domestic and foreign associations and enterprises. 

After the consultation, the BEM project will continue to work with the consulting team to finalize the evaluation catalogue for a bioenergy project in Viet Nam. The final catalogue will be shared to domestic financial institutions for reference and application in evaluation of bioenergy projects. 

The meeting is under the framework of the “Climate Protection through Sustainable Bioenergy Markets in Vietnam” (BEM) project. GIZ and the Electricity and Renewable Energy Authority (EREA) are jointly implementing the project. BEM is funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK) through the International Climate Initiative (IKI).