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Vietnam Energy Forum

The working meeting between the French Development Agency and Electricity of Vietnam

 - On February 17 and 18, 2023, Mr. Rémy Rioux - General Director of the French Development Agency (AFD), President of the International Development Finance Club (IDFC), and President of the Summit General Finance (FICS) visited and worked in Vietnam and Electricity of Vietnam (EVN). The visit is for preparing the Summit Conference on the New Summit Global Financial Agreement to be held in June 2023 in Paris.
The working meeting between the French Development Agency and Electricity of Vietnam

As the chair of the working group on sustainable infrastructure, on February 17, 2023, Mr. Remy Rioux had a high-level meeting with Mr. Duong Quang Thanh – EVN Chairman to discuss cooperation between the two sides on the goal of the equitable energy transition.

At the meeting, Mr. Duong Quang Thanh shared with Mr. Rémy Rioux the strategic orientations, challenges, and experience of EVN in the energy transition process. The exchanges and experiences shared of the EVN helped clarify the potential areas of cooperation with AFD to solve the energy transition challenges.

On February 18, 2023, Mr. Rémy Rioux visited the construction site of the Extended Hoa Binh Hydropower Plant - one of the typical projects funded by AFD to support the energy transition.

Vietnam made a commitment to reduce carbon emissions to net zero by 2050 and phase out coal power by 2040 at the Glasgow COP26 International Climate Conference. And continuing this commitment in December 2022, Vietnam agreed to join the Fair Quality Energy Transition Partnership Agreement (JETP) with the Group of International Partners, including France.

This partnership will mobilize a finance package of $15.5 billion from the public and private sectors during the next three to five years. The Financial contributions of France, through AFD, will be up to $7.75 billion. Vietnam committed to reducing 30% of annual emissions from the electricity sector and maximal limit to use the of fossil fuels by promoting the development of renewable energy with specific goals and roadmaps.

EVN plays a central role in the energy transition in Vietnam. To satisfy the specific commitments of Vietnam, EVN is developing the energy transition roadmap, adjusting the development strategy, and preparing and implementing clean energy projects. ADF as the trust and long-term partner will support EVN in this transition progress.

During the visit to the Extended Hoa Binh hydropower plant site with a capacity of 480MW on February 18, 2023, of Mr. Rioux witnessed the EVN efforts in developing renewable energy. ADF plays a leading role in the group of Europe with the Europe Investment Bank –EIB, German Reconstruction Bank – KfW and Japan International Cooperation Agreement- JICA that is appraising for financing the Bac Ai hydro pump-stored project with a capacity of 1200 MW, a typical project for energy transition progress.

Besides, ADF preferentially finances the investment projects of EVN. ADF also provides consulting services and support to increase the abilities of EVNs. For the making, the active cooperation between AFD and EVN, Mrs. Rioux and Duong Quang Thanh contributed to the ceremony for starting up the EVN and ADF technical cooperation program, that carried out by ADF support capital with a million EUR for supporting EVN in developing the energy transition roadmap, in the new creative projects and increasing EVN ability.

The working meeting between the French Development Agency and Electricity of Vietnam

The kick-off ceremony of the technical cooperation program between EVN and EDF with funding from AFD.

At the end of the visit, Mr. Rémy Rioux - General Director of AFD said: Vietnam placed a very strong goal of energy transition towards low carbon and I am very honored and proud of the partnership that we developed for over 20 years. Within the framework of the discussion with the Chairman of EVN and the visit to the Extended Hoa Binh Hydropower project, I confirmed my commitment to providing the experts and finances that Vietnam needs within the framework of the partner relationship on equitable energy transition (JETP). The experience of Vietnam and EVN as well as the state-owned joint stock commercial banks are very useful to prepare for the Summit Conference on the new Global Financial Agreement next June, in Paris.

Speaking at the meeting, Mr. Duong Quang Thanh, EVN Chairman deeply thanked Mr. Rémy Rioux and the ADF delegation who visited and paid special attention to the cooperation relationship with EVN. EVN commits to implement the energy transition to meet the net-zero commitment of the Vietnamese Government at COP26, therefore, JETP will become an important strategic axis of EVN to realize this international commitment. EVN highly appreciates AFD's support in the recent 20 years and would like to maintain and develop this special relationship in the coming years, especially within the JETP framework that AFD and other donors are supporting and deploying with EVN.

VietnamEnergy.vn

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