Vietnam Electricity (EVN) has entered into partnership with the European Investment Bank (EIB) for energy transition.
EVN has inked a memorandum of understanding with EIB to help the Vietnamese group’s sustainable development and energy transition. EVN Chairman Duong Quang Thanh and EIB Vice President Kris Peeters signed the agreement.
It has been reported that the cooperation is likely to open up opportunities for the EIB to fund power projects in Vietnam. Besides, it is expected that the duo will work together in electricity production and transmission and in energy transition, the local report mentioned.
The latest development is expected to open up the way for EIB’s participation in major energy projects in Vietnam.
“The EIB will assist with the country’s low-carbon transition to modern energy systems in tandem with ensuring economic growth, energy security, and environmental sustainability,” a local media stated.
EIB’s support is regarded as possible for many potential projects on offshore wind power, hydropower, and electricity transmission. Furthermore, the latest move is seen as important to support the country’s action towards net zero emissions.
So far, the EIB has signed five agreements with Vietnam.
Comments