This is your 1 News posts out of 3 that you are entitled to as a guest.

Please sign up for one of our PREMIUM SUBSCRIPTIONS to continue your access to Global Energy Infrastructure.

HDF Energy and PetroVietnam Technical Services Corporation (PTSC), PetroVietnam group, to cooperate on green hydrogen projects in Vietnam and the region

1/4/2023

Hydrogène de France SA (“HDF Energy”) has signed a Memorandum of Understanding (MoU) with PetroVietnam Technical Services Corporation (PTSC) to jointly develop, finance and build HDF's Renewstable® and HyPower® hydrogen power plants in Vietnam. In addition, both parties will explore the potential of producing green hydrogen in Vietnam for the local market and the Asia Pacific region.

Over the past decade, Vietnam has seen rapid economic growth leading to a substantial increase in energy demand. The majority of Vietnam's energy today comes from fossil fuels (coal and gas). The Vietnamese government has shown particular ambition to decarbonize its electrical grid and has already made a strong effort to develop renewable energy sources. However, in some areas of the country, it has led to grid integration issues due to their intermittent nature.

PTSC, subsidiary of Vietnam Oil & Gas Group (PetroVietnam - PVN), is a leading company providing technical services for offshore oil and gas, industrial plants and renewable energy in Vietnam and the region. In order to support the country in addressing these economic, environmental, and technical challenges, PTSC has partnered with HDF Energy whose Renewstable® (power to power) and HyPower® (gas to power) multi-megawatt hydrogen power plants can deliver firm, non-intermittent, non-polluting power to the grids, 24/7.

Through this MoU, both parties will be combining their efforts and expertise to develop, finance and implement HDF's multi-megawatt hydrogen power plant projects. In addition, HDF and PTSC will jointly explore the potential of producing green hydrogen in Vietnam and in other regional markets such as South Korea, Japan and Singapore. They will primarily examine offshore wind projects, through which green hydrogen can be produced to decarbonize local industries.

These ambitions are in line with the PDP8, Vietnam's primary energy planning instrument for the period 2021-2030, which states the role that hydrogen can play in the country to reach net zero emissions by 2050.

The MoU was signed in the presence of Mr. Le Manh Cuong, President & CEO of PTSC, and Mr. Tr?n Hoài Nam, Vice President of PTSC, as well as, for HDF, Mr. Jean-Noël de Charentenay, Deputy CEO, Ms. Hanane El Hamraoui, VP Industry, and Mr. TranKhanhViet, Director Vietnam.

Mr. Geze, HDF's Director for Asia, declared: “We are glad to collaborate with PTSC and explore synergies with the PetroVietnam group to develop green hydrogen projects in Vietnam. PTSC has demonstrated its technical leadership in managing complex projects in Vietnam and abroad. Combined with HDF Energy's experience in hydrogen projects, we can offer unique expertise to hydrogen offtakers and EVN. HDF Energy has started addressing the Asian market in 2021 and this MoU signing with PTSC will accelerate our developments in the region.”

Mr. Le Manh Cuong, PTSC President & CEO, shared: “Entering into this MOU is an important milestone for PTSC's strategic business plan which includes investment in and development of renewable energy projects. With HDF's proven hydrogen technology and expertise, I believe that PTSC and HDF together can promote green hydrogen projects in our country and contribute to the Vietnamese government's commitment to zero carbon emissions in 2050, as announced at COP 26.”