On October 9th, Deputy Prime Minister Bui Thanh Son, EU Energy Commissioner Jozef Síkela, and representatives from various nations and partners gathered for a significant event.
Announcement ceremony of the EU’s support package for the Bac Ai Pumped Storage Hydropower Project. Photo: Event Organizer
During the ceremony, Commissioner Jozef Síkela emphasized that the Bac Ai Hydropower Project is a cornerstone in the joint efforts of Vietnam and Europe to develop a stable, sustainable, and green energy system. It also aims to attract private investment and promote green growth.
The Bac Ai Pumped Storage Hydropower Project is expected to enhance the stability of Vietnam’s national power grid, facilitate the expansion of renewable energy development, and contribute to the country’s goals of reducing carbon emissions and achieving sustainable development.
The €430 million support package is part of the Team Europe initiative, which includes the EU, its member states, and European development finance institutions.
Between 2021 and 2027, the EU has pledged at least €293 million to Vietnam, with total contributions from European partners exceeding €2.8 billion under the Just Energy Transition Partnership (JETP) framework.
Ready to Support Flood Relief Efforts
On the sidelines of the forum, Deputy Prime Minister Bui Thanh Son met with Teresa Ribera, Executive Vice-President of the European Commission for the European Green Deal, at the EC headquarters.
Vice-President Ribera congratulated Vietnam on its impressive development achievements, particularly its 8% GDP growth amidst global and domestic challenges.
She also expressed sympathy for the losses Vietnam has suffered due to recent floods and storms. The EU stands ready to provide support, not only in emergency relief but also in enhancing early warning systems and disaster prevention capabilities to minimize future risks and losses. The EU is confident in its role as a potential partner, leveraging advanced satellite technology, geological exploration, and crisis management expertise.
Deputy Prime Minister Bui Thanh Son welcomed the EU’s proposal for cooperation in disaster response and rescue efforts. He also emphasized the need for strengthened collaboration in environmental protection, climate change mitigation, and the application of science and technology to address climate-related challenges.
On the afternoon of October 9th, as part of the second Global Gateway Forum, Deputy Prime Minister Bui Thanh Son participated in a high-level panel discussion on “Global Developments” alongside international leaders and officials, including EU Commissioner for International Partnerships Josef Síkela, Ghanaian Vice President Naana Jane Opoku-Agyemang, and European Investment Bank President Nadia Calvino.
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As per the outlined plan, the project is slated to commence operations in 2031.
