Hydrogène de France SA (“HDF Energy”) announced the signing of a Memorandum of Understanding (MoU) with Saigon Asset Management (“SAM”) for the development of Renewstable power plants in Vietnam.
Invented and developed by HDF Energy, the Renewstable multi-megawatt power plants produce renewable, stable, guaranteed, 24-hour controllable electricity with zero greenhouse gas emissions, thanks to massive hydrogen energy storage.
The signing was held in the presence of leading Vietnamese authorities, including the Ministry of Industry and Trade (MOIT) and the Vietnam Petroleum Institute (VPI), and the French Ambassador to Vietnam, Mr. Nicolas Warnery, with the support of Business France. This MoU illustrates HDF Energy’s interest in Vietnam, with the aim of expanding its presence in Southeast Asia, after its developments in Indonesia, Malaysia, Cambodia and the Philippines this year. For SAM, the signing underscores its continued commitment to developing projects with positive social and environmental impact in the energy sector, as well as expanding its investment portfolio to include hydrogen power generation.
Under the MOU, the two parties will combine their technical expertise, market knowledge and financial capacity to develop a portfolio of Renewstable and hydrogen projects in Vietnam to provide clean, stable and continuous day and night power to the electricity grid.
“Working with HDF Energy on Renewstable projects is in line with our philosophy of investing in sustainable and responsible energy. We believe that Vietnam can accelerate the achievement of its net-zero emissions goal by utilizing its own available renewable resources,” said Mr. Louis NGUYEN, CEO and founder of Saigon Asset Management.
“Vietnam has shown strong ambition to decarbonize its power grid. HDF Energy’s Renewstable and Hypower plants will support this ambition. We are proud to collaborate with SAM to make green hydrogen a reality in Vietnam,” said Mr. Damien HAVARD, CEO and founder of HDF Energy.
