Hydrogène de France SA (HDF Energy) has announced the signing of a Memorandum of Understanding (MoU) with Saigon Asset Management (SAM) for the development of Renewstable® power plant projects in Vietnam.
Invented and developed by HDF Energy, Renewstable multi-megawatt power plants produce entirely renewable, stable and dispatchable electricity 24 hr/d with zero greenhouse gas emissions.
This memorandum is signed in the presence of leading Vietnamese authorities from the Ministry of Industry and Trade of Vietnam (MOIT) and the Vietnam Petroleum Institute (VPI), of the French Ambassador to Vietnam, H.E. Nicolas Warnery, with the support of Business France. This MoU illustrates HDF Energy’s focus on Vietnam, in an effort to expand its footprint in Southeast Asia, following works in Indonesia, Malaysia, Cambodia and Philippines earlier in 2022. For SAM, the signing highlights its continuous commitment to the development of positive social, environmental impact projects in the energy sector, as well as expanding its investment portfolio to hydrogen power generation.
Under this MoU, both parties will combine their technical know-how, market understanding and financial capability to develop a portfolio of Renewstable® and hydrogen projects in Vietnam to provide clean, stable and continuous energy, day and night.
“The collaboration with HDF Energy on Renewstable portfolio aligns with our sustainable and responsible energy investment philosophy. We believe Vietnam can accelerate toward its net zero emission target using its own available renewables resources.” Said Mr. Louis Nguyen, CEO and Founder of Saigon Asset Management.
“Vietnam has shown great ambition to decarbonize its electrical grid. HDF’ Renewstable and Hypower® will accompany this ambition. HDF is proud to collaborate with SAM to make green hydrogen happen in Vietnam,” said Damien HAVARD, Founder and CEO of HDF Energy.