Vietnam Finalizes $15.5 Billion Clean Energy Transition Plan for COP28 Announcement

Funding provided by group of industrialized nations as part of JETP, with a commitment to cease new coal-fired plants after 2030.

Vietnam has finalized a plan detailing how it will spend $15.5 billion to transition to cleaner energy, which will be announced at the upcoming COP28 climate conference.
The funding is provided by a group of nine wealthy industrialized nations, including the United Kingdom, as part of the Just Energy Transition Partnership (JETP).
Vietnam's national energy plan, released earlier this year, aims to more than double the country's maximum power generation to 150 gigawatts by 2030.
The plan includes a commitment to stop building new coal-fired plants after 2030 and to shift towards renewable energy sources, which are expected to account for nearly 50% of total generating capacity by 2030.
Vietnam's deputy director general of Energy Efficiency and Sustainable Development, Tang The Hung, emphasized the need for 'great support' from the international community to implement the plan.