“HDBank and PV Power Sign a Landmark Deal for Vietnam’s Energy Transition”
HDBank stands alongside businesses and the Government in pivotal projects involving energy transition, renewable energy, and LNG power.
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This credit facility will be primarily used by PV Power to import liquefied natural gas (LNG), the fuel required for the operation of the Nhon Trach 3 and Nhon Trach 4 power plants, which are strategic ventures in Vietnam’s energy transition roadmap.
This national key project is the first in Vietnam to primarily utilize LNG, contributing to a cleaner, more stable, and less emissions-intensive energy mix. With a combined capacity of 1,624 MW and an investment of 1.4 billion USD, the two plants are expected to add approximately 9-12 billion kWh of electricity annually to the national grid. After breaking ground in 2022, the Nhon Trach 3 power plant is set to commence commercial operations in Q3 2025, while the Nhon Trach 4 plant is anticipated to come online in Q4 2025.
Speaking at the signing ceremony, Mr. Nguyen Duy Giang, Deputy General Director of PV Power, emphasized that the credit facility from HDBank would strengthen the corporation’s financial resources for LNG imports, ensuring the timely and efficient operation of these pivotal projects.
The collaboration between HDBank and PV Power is a tangible step in aligning finance with the energy transition, contributing to sustainable development goals and Vietnam’s net-zero emissions commitment by 2050, as declared at COP26.
As a leading green credit provider, HDBank is at the forefront of financing sectors that positively impact the environment and society, including renewable energy, organic agriculture with high-tech applications, and recently, LNG projects, which serve as a crucial transitional energy source from fossil fuels to renewables. To date, the bank has disbursed a cumulative VND 31,000 billion since 2019 for green initiatives.
According to Mr. Tran Hoai Nam, Permanent Deputy General Director of HDBank, the bank consistently accompanies businesses and the Government in pivotal projects related to energy transition, renewable energy, and LNG power. This approach aligns with their goal of fostering green economic development and realizing Vietnam’s net emissions reduction target.
With a focus on “Responsible Lending,” HDBank has integrated environmental, social, and governance (ESG) factors into its corporate lending process through an environmental and social risk management system (ESMS). Consequently, 100% of loans are assessed and appraised based on sustainable development criteria.
Through concrete actions, HDBank is progressively realizing its strategy of “Pioneering Sustainability – Rising to National Pride,” contributing to the formation of a modern financial system that accompanies the nation in its energy transition and sustainable development journey.
– 15:10 16/06/2025
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