Vietnam Electricity’s northern unit seeks German support in finance, technology
Northern Power Corporation (EVNNPC), a unit of state utility Vietnam Electricity, is seeking further support from the German government and state-owned German development bank KfW to reach sustainable growth.
EVNNPC deputy director Tran Minh Dung made the statement at a Sunday working session with a German delegation, led by Bärbel Kofler, parliamentary state secretary to the German federal minister for economic cooperation and development.
EVNNPC seeks support in finance, technology, and technicality from the German side, the executive added.
VNNPC deputy director Tran Minh Dung (right) and Bärbel Kofler, parliamentary state secretary to the German federal minister for economic cooperation and development, at a meeting in Nam Dinh province, northern Vietnam, October 27, 2024. Photo courtesy of EVNNPC.
Investing in the power grid is the key to meet the energy transition target, especially in faciliating the pacey growth of renewable energy towards net-zero 2050 target, Dung emphasized.
EVNNPC is set to invest VND90 trillion ($3.55 billion) in the power grid in 2021-2025 and additional VND100 trillion in 2026-2030 to facilitate the country’s average annual GDP growth of 7% in 2021-2030, according to EVNNPC, which is in charge of 27 northern Vietnam localities.
For her part, Bärbel Kofler said the German government shared the same concern with the Vietnamese government in reaching Vietnam’s COP26 commitment. The German side is willing to help Vietnam fulfil both goals of net zero carbon without negative impacts and stable power supply to help economic growth.
The two sides also discussed the implementation of the Just Energy Transition Partnership (JETP) in Vietnam, social impacts of high investment in electricity supply, and challenges in meeting high growth demand.
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