Vietnam Solar Transition Accelerator (VISTA) (WB-P172974)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Aug 13, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of the Socialist Republic of Vietnam
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Law and Government
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Grant Amount (USD)
$ 1.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ WB website

Updated in EWS Jul 31, 2024

Disclosed by Bank Dec 19, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank document, the Development Objective is to support the Government of Vietnam in implementing a sustainable solar competitive bidding program to mobilize private investments at scale. The expected key results of the Vietnam Solar Transition Accelerator project are:

  • Launch and implementation of a Pilot Substation-Based Competitive Bidding (500 MW pilot bidding)
  • Private capital mobilized under the Pilot Substation-Based Competitive Bidding (US$ 375 million
    mobilized).
  • Reduction in carbon emissions (18 million CO2 tons for the 25 years of the solar projects life).
  • Development of a pipeline of solar parks to be tendered as a second phase (subject to results of
    preliminary technical analysis).

As per the request from the Government of Vietnam, the World Bank will lead the Substation-Based Competitive Bidding and the Ground-Mounted Competitive Bidding whereas the Asian Development Bank
(ADB) will lead the Floating Solar Park Competitive Bidding Scheme. The World Bank and ADB will work together on the legal and contractual/risk allocation aspects to ensure full donor coordination.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The World Bank categorized the project E&S risks as 'Substantial'.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

GLOBAL INFRASTRUCTURE FACILITY (Non-World Bank funding) US$ 1.5 million


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

1/World Bank Contact

Contact: Ky Hong Tran

Title: Senior Energy Specialist

Telephone No: 5777+8388

Contact: Sabine Mathilde Isabelle Cornieti

Title: Young Professional

Telephone No: 5220+34596

2/ Borrower/Client/Recipient

Borrower: Ministry of Trade and Industry (MOIT)

3/Implementing Agency

Ministry of Industry and Trade (MOIT)

Contact: Hoang Kim Phuong

Title: General Director

Telephone No: 0084903289159

Email: kimph@moit.gov.vn

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.

How it works

How it works