Innovative low carbon projects join climate finance accelerator Vietnam hinh anh 1Illustrative image (Source: VNA)
Hanoi (VNA) – The British Embassy in Hanoi on March 27 announced nine low carbon projects from across Vietnam as the first cohort to join Climate Finance Accelerator (CFA) Vietnam.

The selected projects represent diverse sectors such as renewable energy, resource/energy efficiency, e-mobility, AFOLU (agriculture, forestry and other land uses), decarbonising construction, circular economy, and waste management; and have the potential to benefit communities across Vietnam.

To improve project readiness and opportunity to attract investment from Vietnamese and international investors, the projects will receive tailored one-to-one and group support. This will include advice on technical aspects, financial models, and pitch material, as well as advice on enhancing gender equality and social inclusion (GESI).

The CFA is part of the UK Government’s efforts to help Vietnam meet the commitments made by Prime Minister Pham Minh Chinh at COP26 in Glasgow in 2021, and offer support to implement the Vietnam Just Energy Transition Partnership (V-JETP) that was agreed in December 2022.

British Ambassador to Vietnam Iain Frew said “The exciting and innovative projects selected to be part of CFA Viet Nam underline the significant potential of the Vietnamese private sector to help tackle the climate crisis. The expertise shared with these projects will help move them closer to finding investment, leading to reductions in carbon emissions for communities across the country.”

The first cohort of CFA Vietnam programme include Blue Planet Environmental Solutions, a producer of biogas from rice straws using a dry-digestion system; Control & Automation Solutions, a tech company providing automation solutions in the energy and agriculture sectors with two smart agriculture projects participating in the CFA Vietnam; Dat Bike, Vietnam’s first domestic electric motorbike company, whose proposed project aims to manufacture modern, tech-driven electric bikes for the mass market and develop solar-powered battery charging infrastructure.

Others include Deep C Green, a subsidiary of Deep C Industrial Park - an aspiring eco-industrial park in Vietnam; Egreen Technology JSC, a supplier of biogas electricity for livestock farms; Hoa Binh High Tech Environment Joint Stock Company, a company in industrial waste management using circular economy principles; Power Engineering Consulting Joint Stock Company 4; Vietnam Sustainable Materials Corporation; and VRB Energy, a large-scale integrated Vanadium Flow Battery (VFB) producer./.