EIB and EVN explore offshore wind energy collaboration

Photo: bnews.vn

Kris Peeter, deputy chairman and member of the EIB’s Management Committee, led the European delegation in discussions with Dang Hoang An, chairman of EVN on September 8.

"The partnership between EVN and the EIB has been commendable over the years," Peeter said. He also noted the EIB’s current role alongside other financial contributors in supporting a non-government guaranteed loan for EVN’s Bac Ai hydroelectric storage plant project.

Highlighting the bank’s broader aspirations, Peeter said, “We wish to assist and collaborate with EVN in the quest to develop offshore wind energy in Vietnam.”

Such ventures resonate with global efforts to combat climate change and the consequent paradigm shift towards green energy.

In response, An shed light on Vietnam's proactive transition to green energy, outlining EVN's pivotal role in the initiative. "According to the latest power plan, Vietnam aims to harness 6,000 MW of offshore wind energy capacity by 2030," he said.

Emphasising the ambitious roadmap, An expressed hope for technical assistance and favourable loan terms from the EIB, which would aid EVN’s expansion of offshore wind systems and other renewable energy projects in the country.

During their deliberations, the two parties also discussed a slew of potential collaborative endeavours. These included accelerating loan negotiations for the Bac Ai project, an introduction to EIB's 'Global Gateway' initiative, and potential collaboration on electric grid transmission and distribution projects.

It's worth noting the stature of the European Investment Bank in global financial circles. Operating as the lending institution of the European Union with 27 member countries as shareholders, the EIB stands as the world's largest multilateral financial institution and ranks among the top financiers of climate adaptation projects.

To cement their shared objectives, EVN and EIB previously signed an MoU in December 2022.

This paved the way for EIB to offer direct financial support to power projects in Vietnam, thereby enhancing partnerships across various sectors - from power generation, transmission, and distribution to retail electricity. It also underscores a mutual commitment to the transition towards net-zero emissions.

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