This research paper explores the risks and mitigation strategies associated with energy transition investment projects in Turkey and Vietnam. The study focuses on understanding the changing energy balance in these countries and the role of multilateral organizations in financing renewable energy initiatives. The analysis identifies the main risks in each country, including economic, institutional, and governance effectiveness, financial system, payment culture, and rule-of-law risks. It examines Turkey and Vietnam's specific challenges and opportunities, considering economic stability, political environment, financial sector risks, and adherence to regulatory frameworks. The study concludes by providing recommendations for companies planning energy transition investment projects in Turkey and Vietnam. It suggests incorporating the costs of risk mitigation instruments into the financial analysis and utilizing the mechanisms provided by multilateral agencies for effective risk management. The findings aim to guide decision-makers and investors in understanding the risks and implementing appropriate strategies to ensure the success of renewable energy projects in these countries.