Julien Guerrier, EU Ambassador to Viet Nam, and Olivier Brochet, French Ambassador to Viet Nam, recently paid a field visit to the Ialy Hydropower Plant expansion project — one of the flagship initiatives promoting Viet Nam’s green energy transition under a multilateral cooperation framework.
The project follows a “Team Europe” approach, pooling financial and technical resources from EU member states to make a significant contribution to Viet Nam’s energy transition goals.
Implemented by the Viet Nam Electricity Group (EVN) from 2021 to 2024, the project adds two turbines, 180 MW each, increasing the plant’s total capacity to 1,080 MW. The new turbines are scheduled to go online by the end of 2024.
The expansion is financed through a concessional loan of 74.7 million EUR from the French Development Agency (AFD) and a 2 million EUR grant from the European Union.
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| EU and French delegation visiting the project. (Photo: French Embassy in Viet Nam) |
The EU grant supports EVN in strengthening its capacity in health, safety and environmental (HSE) risk management to meet international standards, as well as in optimising infrastructure operation and maintenance.
Speaking at the site, EU Ambassador Julien Guerrier highlighted that the project is expected to cut CO₂ emissions by approximately 68,000 tonnes annually, while adding 360 MW of electricity to the national grid.
He reaffirmed the EU’s continued support for Viet Nam’s energy transition process through the Global Gateway strategy and its role as co-chair of the Just Energy Transition Partnership (JETP).
For his part, French Ambassador Olivier Brochet reiterated France’s commitment to the JETP. Between 2023 and 2027, France, through AFD, plans to invest 500 million EUR in the mechanism.
Within this framework, France will support Viet Nam’s energy transition, notably through the Bac Ai Pumped Storage Hydropower Project — the country’s first of its kind, which will add 1,200 MW to the national grid.
This project marks another milestone in the Team Europe partnership and serves as a key driver of Viet Nam’s green energy shift.
