The Governing Council of the Global Infrastructure Facility (GIF) has approved a fund US$ 1.5 million for supporting the World Bank (WB) and the Vietnamese Government to implement the Solar Pilot Auction Program.
According to The GIF in coordination with the Energy Department of WB will help Vietnam to design and build the Auction Program to transition from feet in tariff (FIT) mechanism to a sustainable competitive auction scheme for SPPs that will create a favorable environment for the private sector to participate in the renewable energy development.
The WB Country Director for Vietnam Osmane Dione said that WB is closely working with the Vietnamese Government to bring more private resources to energy sector where the financial needs are huge and urgent.
