Sci-Tech

German-funded project on smart power network development approved

Deputy Prime Minister Pham Binh Minh has signed Decision 519/QD-TTg approving the proposal on a German-funded project to apply smart power network to develop renewable energy and energy efficiency in Vietnam.
German-funded project on smart power network development approved ảnh 1Illustrative Image (Source: VNA)

Hanoi (VNA) –Deputy Prime Minister Pham Binh Minh has signed Decision 519/QD-TTg approvingthe proposal on a German-funded project to apply smart power network to developrenewable energy and energy efficiency in Vietnam.

The project, whichwill use non-refundable Official Development Assistance (ODA) capital of theGerman Government, aims to complete legal framework related to promoting andsupporting the development of various sources of renewable energy in the powersystem as well as a smart energy network in Vietnam.

It is expected to helpthe country fulfill the Government’s targets set in the national powerdevelopment programme, the green growth strategy, and the green growth actionplan, towards ensuring reliable supply of energy and improving power quality alongwith sustainable development of the power and energy sector.

The project will enhancepartnership and technology transfer among universities, research institutes andenterprises of Vietnam and Germany in renewable energy and energy efficiency,while establishing networks for cooperation and experience sharing amongpolicy-makers, management officials as well as other project development units.

Research affiliationwill focus on latest technologies and technology products and software forenergy efficiency for application in building smart houses and smart cities.

To be implemented from2018 to 2022 nationwide, the project will have total investment of nearly 5.3million EUR, of which 5 million EUR is sourced by non-refundable ODA of theGerman Government, while 297,980 USD is Vietnam’s corresponding capital.

Prime Minister NguyenXuan Phuc has assigned the Ministry of Planning and Investment to send anofficial notice to the German side on this decision. Meanwhile, the Ministry ofIndustry and Trade was asked to gather ideas of relevant agencies to complete, verifyand ratify the project’s document in order to issue a decision on the project.-VNA
VNA
#Deputy Prime Minister Pham Binh Minh #smart power network #renewable energy #energy efficiency #German Government #Germany #Vietnam-Germany cooperation #Vietnam news #Vietnam News Agency Germany
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