USAID Supports S.Korea Energy Developer in Wave Power Project in Vietnam

The United States Agency for International Development (USAID) has provided support to South Korean energy developer Ingine to advance the firm’s wave power project in Ly Son island’s area in Vietnam’s central province of Quang Ngai, foreign media reported. In particular, Ingine Pacific, Ingine’s Vietnamese subsidiary, was selected to receive USAID INVEST’s support for an environmental and social impact assessment (ESIA) for its wave plant, starting in the third quarter of 2021. The support also includes a learning report and gap analysis between Vietnamese environmental law and international ESIA standards. USAID’s Vietnam Mission, through the USAID INVEST initiative, seeks to explore and facilitate private investments in the renewable energy sector. 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 Heavy Industries Vietnam (Doosan Vina) and Vingroup JSC (HOSE: VIC) The project aims to make the Ly Son island carbon-free with eco-friendly technologies. (Foreign Media,