French Development Agency mulls over more funding for Vietnam Electricity
The French Development Agency (AFD) is considering new soft loans for state utility Vietnam Electricity to support the country’s carbon neutrality goal by 2050, said AFD chairman Philippe Le Houerou.
“AFD will continue to be with Vietnam Electricity with the most efficient solutions,” he said during his working trip to the electricity giant’s headquarters in Hanoi on June 9.
AFD chairman Philippe Le Houerou (central) speaks at his meeting with Vietnam Electricity leaders in Hanoi on June 9, 2023. Photo courtesy of EVN.
Tran Dinh Nhan, CEO of Vietnam Electricity (EVN), said his group expected the French government’s financial institution to keep providing EVN with electricity development assistance, and the state utility is committed to utilizing its best resources to drive Vietnam’s clean energy transition.
AFD has been providing funding for electricity generation plants and transmission lines in Vietnam, such as the extended Hoa Binh hydropower plant, the extended Ialy hydropower plant, Sesan 4 Hydropower project, and upgrading transmission capacities in southern Vietnam. These AFD funds are not on the Vietnamese government’s list of public debts.
Early this month, the AFD delegation met with EVN subsidiaries, units, and departments across the country to discuss business and cooperation ties.
The AFD said last September that it planned to mobilize EUR20 million in the future to help EVN transition to and innovate towards clean energy projects, with top priority given to the Bac Ai pumped-storage hydropower plant in the south-central province of Ninh Thuan.
Prior to that, the development agency had announced loans of EUR350 million without government guarantees for EVN projects related to power grids and power sources.
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