On this occasion, on December 9th, 2022, at the Vietnam - Luxembourg Business Forum, the Chairman of the Board of Management of EVNGENCO3, Mr. Dinh Quoc Lam, the Chairman of the Board of Management of PECC2, Mr. Nguyen Chon Hung and the Vice Chairman of Babcock&Wilcox, Mr. Joseph T Buckler have signed a Memorandum of Understanding to build a foundation for technical solutions and cooperation for EVNGENCO3's power plants in the energy transition roadmap. The signing ceremony is witnessed by the Prime Minister of Vietnam, Mr. Pham Minh Chinh, and other leaders of ministries of Vietnam and Luxembourg.
The Memorandum of Understanding opens up an opportunity for EVNGENCO3 to access technical solutions and financial support for EVNGENCO3’s coal-fired power plants; firstly, it is piloted at EVNGENCO3's coal-fired power plants and then expanding to all coal-fired power plants in Vietnam in the direction of improving the operational efficiency and developing the carbon emission reduction roadmap.
The Vice President of Babcock&Wilcox, Mr. Joseph T Buckler in Luxembourg said that “From the date of establishment in 1897, Babcock&Wilcox is the world’s leading engineering group in providing technology and engineering solutions for environmental control and mitigation in the electricity industry and other sectors. Babcock&Wilcox hopes to provide technical solutions and support for EVNGENCO3 to access capital sources and financial support from financial institutions in Europe for Vietnam's energy transition in general, and ensure economic growth, energy security and environmental sustainability in particular”.
The Chairman of the Board of Management of EVNGENCO3, Mr. Dinh Quoc Lam said that “EVNGENCO3 owns many power plants with a capacity of more than 6500MW, annually contributing more than 30 billion kWh to the power system. Participating in the journey of realizing the net zero-emissions target by 2050 of the Government, EVNGENCO3 has developed its own energy transition roadmap; accordingly, in addition to projects in the potential investment list in the future such as offshore wind power, pumped hydropower storage etc., EVNGENCO3 is interested in researching solutions to reduce emissions for existing power plants. The cooperation among EVNGENCO3, PECC2 and Babcock&Wilcox is expected to support Vietnam in its low-emission development plan and climate change adaptation as well as promote the process of fair transition and decarbonization of the power system, developing new economic opportunities to support Vietnam's transition towards a net-zero emission future.
Within the framework of the Conference, the parties have a working session with Luxembourg Development Cooperation Agency to consider the support and arrange funding sources to implement the work items under the MOU. Thanks to the strong support of European countries, EVNGENCO3 and PECC2 hope that the parties will quickly find reliable sources for emission reduction programs for power plants in the coming time, effectively contributing to the national energy transition.