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INGINE Receives USAID Support to Faciliate the Deployment of Its Wave Energy Power Plant in Vietnam

2021.06.01Hit : 150

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INGINE, a wave power generation system developer, is receiving support from the United States Agency for International Development (USAID) to advance its future wave power plant in Vietnam. USAID’s Vietnam Mission, through the USAID INVEST initiative, seeks to explore and facilitate private investments in the renewable energy sector. On April 29th, 2021, Ingine Pacific and DAI Global, which implements USAID INVEST, signed a memorandum of understanding to advance the wave power plant.

 

After a competitive evaluation process, Ingine Pacific, the Vietnamese subsidiary of INGINE, was selected to receive support through USAID INVEST for an Environmental and Social Impact Assessment (ESIA) for INGINE’s wave power plant in Ly Son, Quang Ngai starting in the third quarter of 2021. This support will also include a learning report and gap analysis between Vietnamese environmental law and international ESIA standards. This research will assist INGINE and other developers in understanding the application of international standards for the benefit of wave energy project development in Vietnam.

INGINE’s upcoming wave power plant in Vietnam is part of a five-party memorandum of understanding among INGINE, Quang Ngai People’s Committee, SK Innovation, Doosan Vina and VinGroup, which is designed to make the province’s island carbon-free using eco-friendly technologies.

Vietnam boasts 3,000 km of coastlines and more than 3,000 islands and archipelagos, making wave power a prime energy source for the country’s energy transition. In addition, wave energy conversion is one of the technologies prioritized for development investment and hi-tech products based on Decision No.38/2020/QD-TTg signed by the Prime Minister of Vietnam on December 30th, 2020 and effective since February 15th, 2021. With the support of USAID, INGINE’s wave power project will give a boost to the promising future of wave energy in Vietnam. 

 

For further reference: Wave Energy Could Power Vietnam’s Islands, But Start-Ups Need USAID’s Help   

More information about Eco-friendly MOU in Vietnam   

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