USTDA Investments Advance Wind Power Solutions, EXIM Financing for Vietnam

Vietnam’s emerging wind power sector benefitted from early strategic USTDA investments that brought American technical expertise, technology and financing from the Export-Import Bank of the United States (EXIM) to one of the Indo-Pacific region’s most dynamic economies.

With more than 2,000 miles of ocean coastline and significant domestic growth in electricity consumption, Vietnam is a prime market for the many potential benefits of wind power. In partnership with USTDA, Vietnam has begun rapidly expanding its wind power sector, bolstering the nation’s regulatory architecture, encouraging investment and ultimately addressing domestic energy demand with the help of U.S. technology.

In 2013, Vietnam collaborated with USTDA after setting a goal to include more renewables in its expanded mix of national energy use. In response, USTDA planned and executed a reverse trade mission that brought Vietnamese officials to America and introduced them to U.S. regulatory solutions for the wide-scale integration of wind energy into Vietnam’s national grid. The visit also connected Vietnamese project sponsors to EXIM, which subsequently financed U.S. wind technology exports to Vietnam.

USTDA complemented this visit with technical assistance to Vietnam’s Electricity Regulatory Authority, which contributed to the adoption of grid interconnectivity standards for wind power projects. This also helped to increase investor interest in Vietnam’s new market.

As a result, USTDA achieved a key expansion of U.S. wind technology exports, which led to new plans to generate 1,000 megawatts of wind power. USTDA’s Acting Director Thomas Hardy assessed the program’s success this way: “Our longstanding partnership with Vietnam is supporting the creation of a viable wind power sector and expanding exports of U.S.-sourced solutions. Just as importantly, our Agency is forging critical relationships between U.S. industry and Vietnam that are shaping a stronger energy sector with sustainable economic growth.”

July 14, 2020