AFD helps EVN implement energy transition
VGP - The French Development Agency (AFD) will assist the Electricity of Viet Nam (EVN) in building a roadmap for energy transition to realize Viet Nam’s commitments to net-zero carbon emissions.
The AFD-funded €1 million technical cooperation program to this effect was launched in Ha Noi in the presence of Managing Director of the AFD Rémy Rioux and EVN Chairman Duong Quang Thanh.
The program will also support the EVN to carry out innovation projects and improve its capacity building.
Viet Nam made a commitment to phase out coal power generation by the 2040 and achieve net-zero carbon emissions by 2050 at the COP26.
Following the commitment in December 2022, the country joined the Just Energy Transition Partnership (JETP) with the International Partners Group, including France.
This partnership will mobilize a finance package of US$15.5 billion from the public and private sectors during the next three to five years. The financial support of France, via the AFD, will be up to US$7.75 billion.
Viet Nam has pledged to reduce 30 percent of annual emissions from the electricity sector and minimize the use the of fossil fuels by promoting the development of renewable energy.
EVN plays a central role in the energy transition in Viet Nam. To satisfy the specific commitments of Viet Nam, EVN is developing the energy transition roadmap, adjusting the development strategy, and preparing and implementing clean energy projects.
The ADF, as the trust and long-term partner, will support EVN in this transition progress.