Currently, ADB is very interested in the energy transition towards net zero emissions by 2050 according to the commitment of the Government of Vietnam at COP26.
The ADB leader expressed his desire to expand cooperation with EVN in the field of energy transition through the Just Energy Transition Partnership Program (JETP). In addition to financial support, ADB will provide more support to EVN in technical development and human resource improvement. At present, the Asian Development Bank is implementing a feasibility study on the energy transition mechanism in Vietnam, including pilot fuel conversion solutions for coal-fired power plants and studies of clean energy and associated infrastructure. ADB expects to have EVN’s coordination and engagement in this project.
Asian Development Bank delegation works at EVN on afternoon of April 11
On the part of Vietnam Electricity, EVN’s President and CEO Nguyen Anh Tuan sent his thanks to the Asian Development Bank for its significant contributions and support to EVN in investment and construction of projects to develop Vietnam's power system through ODA loans, ordinary loans as well as technical assistance. Intending to implement the Net Zero commitment by 2050, Vietnam Electricity has been attempting to implement energy transition projects, and solutions and develop green energy sources. Therefore, EVN needs support and experience sharing from international partners like ADB.
At the meeting, EVN and ADB leaders exchanged information and discussed issues related to the pilot battery energy storage project (BESS); Bac Ai Pumped Storage Hydropower Project, etc.
Regarding the BESS project in Vietnam, in recent times, EVN has been closely collaborating with ADB in discussing and contributing comments to complete the project draft. The pilot BESS project is proposed to be installed at a substation in Northern Vietnam, providing ancillary services (peaking power supply and frequency control) in the context of increasing penetration of renewable energy into the system. Accompanying benefits of the project include limiting renewable energy curtailments, reducing power loss, and relieving pressure on transmission grid investment.