The European Investment Bank and Vietnam Electricity (EVN) have agreed to collaborate on the development of renewable energy plants that include hydropower and offshore wind projects in Vietnam, according to local media.
Kris Peeter, deputy chairman and member of the EIB’s management committee led a European delegation to Vietnam and held discussions with EVN chairman Dang Hoang An. One of the projects in discussion was advanced loan facilities for the Bac Ai hydropower project where EIB is participating in a non-government guaranteed loan. EVN is also hoping for technical assistance and favourable loan terms from the EIB for its planned expansion of offshore wind systems and other renewable projects in the country, the report said. The two parties also discussed an introduction to EIB's "Global Gateway" initiative, and potential collaboration on electric grid transmission and distribution projects. “We wish to assist and collaborate with EVN in the quest to develop offshore wind energy in Vietnam,” Peeter was quoted saying. According to the latest power development plan, PDP 8, Vietnam aims to have 6GW of offshore wind capacity by 2030.