Hydrogène de France, a hydrogen-electricity player created in 2012, has signed a memorandum of understanding with Saigon Asset Management, a Vietnamese development capital company. The objective: to develop low-carbon hydrogen solutions in Vietnam.
HDF Energy and Saigon Asset Management embark on green hydrogen in Vietnam | Photo credits: Hydrogen de France HDF
The two companies intend to develop through this agreement power plants producing electricity from a renewable source and a hydrogen chain. HDF Energy’s offer is unique in that it combines green hydrogen production and storage using high-power fuel cells delivering more than 1 megawatt. These plants should provide continuous electricity or on demand, associated with fuel cells that will be provided by the French group.
This memorandum of understanding is signed with Saigon Asset Management (SAM), an investment fund based in Ho Chi Minh City and displaying assets under management of more than 200 million dollars. This new location also strengthens HDF Energy’s presence in the region, after having already established itself in Indonesia, Malaysia, Cambodia and the Philippines. The Vietnamese management company is also not the first investment of this type. In 2007, she co-founded Indochina Energy Partners, a producer of solar panels for businesses and individuals in Southeast Asia.
On the occasion of the signing of the agreement in the presence of Vietnamese officials and the French ambassador in Hanoi, the director and founder of SAM, Louis Nguyen, declared that he hoped that this collaboration would enable Vietnam “to accelerate the achievement of its goal of net zero emissions” that the country has committed to achieve by 2050.
SM