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

Countries
  • Vietnam
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
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
The Government of the Socialist Republic of Vietnam
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Law and Government
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, etc.
Grant Amount (USD)
$ 1.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Apr 17, 2020

Disclosed by Bank Dec 19, 2019


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Project 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.

Investment Description
  • World Bank (WB)

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

Contact Information

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.