A Memorandum of Understanding between HDF Energy and PetroVietnam Technical Services Corporation (PTSC) has been signed in order to collaboratively plan, finance, and construct HDF’s Renewable and HyPower hydrogen power facilities in Vietnam. Both parties will also look into the possibility of making green hydrogen in Vietnam for both the domestic market and the Asia Pacific area.
Vietnam’s recent decade of strong economic expansion has resulted in a significant rise in energy demand. Fossil fuels provide for the majority of Vietnam’s energy needs today (coal and gas). The Vietnamese government has made a considerable effort to promote renewable energy sources and has demonstrated a specific commitment to decarbonizing its electrical infrastructure. Due to their sporadic nature, however, it has caused grid integration problems in various parts of the country.
The major provider of technical services for offshore oil and gas, industrial facilities, and renewable energy in Vietnam and the region is PTSC, a subsidiary of Vietnam Oil & Gas Group (PetroVietnam – PVN). The PTSC has teamed up with HDF Energy, whose multi-megawatt Renewstable® (power to power) and HyPower® (gas to power) hydrogen power plants can provide stable, uninterrupted, non-polluting power to the grids, 24/7, to help the nation overcome these economic, environmental, and technical concerns.
Through this MoU, the two parties will collaborate to develop, fund, and put into operation HDF’s multi-megawatt hydrogen power plant projects. In addition, HDF and PTSC will investigate how green hydrogen could be produced in Vietnam as well as in other regional markets like South Korea, Japan, and Singapore. They will focus mostly on offshore wind farms, which can generate green hydrogen to decarbonize nearby industries.
These goals are consistent with the PDP8, Vietnam’s main energy planning document for the years 2021–2030, which outlines the contribution hydrogen may make to the nation’s goal of achieving net zero emissions by the year 2050.
The MoU was signed in the presence of Mr. Tran Khanh Viet, Director Vietnam, Mr. Jean-Noel de Charentenay, Deputy CEO, Ms. Hanane El Hamraoui, VP Industry, and Mr. Le Manh Cuong, President & CEO of PTSC, and Mr. Tron Hoài Nam, Vice President of PTSC.
