The European Investment Bank is the lending arm of the European Union, owned by 27 EU members. They are the biggest multilateral financial institution in the world and one of the largest providers of climate finance.
Previously, EVN and EIB signed a Memorandum of Understanding in December 2022, opening up opportunities for EIB to participate in direct financial support for power investment projects in Vietnam, strengthening partnerships in power generation, transmission, distribution, and retail sectors, as well as the energy transition towards net zero emissions.
At the meeting, Mr. Kris Peeter - Vice Chairman and member of the EIB Board of Directors highly appreciated the cooperative relationship between EVN and EIB in recent times. Currently, EIB together with the Donors Group is considering the provision of non-sovereign loans for EVN’s Bac Ai Pumped Storage Hydropower Plant project.
Also according to Mr. Kris Peeter, EIB wishes to support and cooperate with EVN in developing offshore wind power in Vietnam.
Mr. Kris Peeter - Vice Chairman, Member of the EIB Board of Directors (middle) and delegation working at EVN
Chairman of EVN's Board of Directors Dang Hoang An respectfully thanked EIB for their cooperation and support extended to EVN in recent times. According to the EVN leader, Vietnam has been promoting a green energy transition, in which Vietnam Electricity plays an important role. According to Master Plan VIII, Vietnam plans to develop 6,000MW of offshore wind power from now to 2030. Therefore, in the coming time, EVN hopes to receive technical support as well as preferential financial offers from EIB for offshore wind power projects as well as renewable energy projects in Vietnam.
Chairman of EVN's Board of Directors Dang Hoang An (middle) speaking at the meeting
The two sides also exchanged and discussed cooperation activities in the coming time such as: accelerating the progress of loan negotiation for Bac Ai Pumped Storage Hydropower Plant project; introducing EIB's "Global Gateway" initiative; cooperation potentials in power transmission and distribution grid projects, etc.