France provides 67 million euros to support Vietnam in strengthening its power transmission network

The French Development Agency (AFD) and the National Electricity Transmission Corporation (EVNNPT) have just signed a 67 million euro funding agreement to strengthen Vietnam's electricity transmission network within the framework of the Just Energy Transition Partnership (JETP).

Cleaning insulation with high pressure water on the 220kV Phan Ri-Hong Phong-Phan Thiet line. (Illustration: PTC3)

The signing ceremony took place in Hanoi on the occasion of the official visit to Vietnam of French President Emmanuel Macron.

Accordingly, this investment will finance three sub-projects, including two new 500kV transformer stations and related power transmission lines, located in two fast-growing southern provinces, Binh Duong and Dong Nai - two key economic centers of the southern region.

The project aims to enhance grid stability and improve operational efficiency, thereby meeting essential infrastructure needs to sustain economic growth and promote the energy transition in Vietnam.

Mr. Rémy Rioux, Director General of AFD, emphasized that this agreement affirms France's commitment to the energy transition in Vietnam. This is the first public funding within the framework of the "JETP" in Vietnam, clearly demonstrating France's desire, through AFD, to support a sustainable and socially cohesive growth model.

This is the first “JETP” project approved by an international partner and is also the first public funding among financial commitments made by the international community to support JETP Vietnam from 2022.

At the same time, the agreement also reaffirms France's commitment within the framework of JETP, under which France commits to mobilizing up to 500 million euros in preferential loans to support Vietnam's energy transition in the 2023-2027 period.

This agreement marks an important step forward in the long-standing cooperation between France and Vietnam in the energy sector. In particular, this funding is the first large-scale operation since the establishment of the French-supported JETP partnership in Vietnam, thereby reaffirming France’s commitment to Vietnam’s goal of carbon neutrality by 2050.

In addition to financial support, AFD also supports a peer-to-peer technical cooperation between the French Electricity Transmission Agency (RTE) and EVNNPT, by supporting expert exchanges between EVNNPT and French experts, focusing on technical standards and equipment specifications, cybersecurity measures, as well as safety, health and environment (HSE) practices.

Over the past 30 years, AFD has accompanied Vietnam's development process with a total investment value of more than 3.2 billion euros for more than 140 projects.

Source: https://baotuyenquang.com.vn/phap-tai-tro-67-trieu-euro-ho-tro-viet-nam-tang-cuong-mang-luoi-truyen-tai-dien-212681.html