This credit line will be used by PV Power mainly to import liquefied natural gas (LNG) - the input fuel for the operation of Nhon Trach 3 and Nhon Trach 4 gas-fired power plants, strategic projects in Vietnam's energy transition roadmap.
This is a national key project and the first project in Vietnam to use liquefied natural gas (LNG) as the main fuel, contributing to the formation of a cleaner, more stable and less emission-intensive energy structure. With a total capacity of 1,624 MW and an investment capital of 1.4 billion USD, the two plants are expected to add about 9-12 billion kWh of electricity per year to the national power system. After starting construction in 2022, by mid-2025, Nhon Trach 3 gas-fired power plant will be ready for commercial operation in the third quarter of 2025; Nhon Trach 4 gas-fired power plant is expected to be put into operation from the fourth quarter of 2025.
HDBank always accompanies businesses and the Government in key projects on energy conversion, renewable energy and LNG electricity.
Speaking at the signing ceremony, Mr. Nguyen Duy Giang - Deputy General Director of PV Power emphasized that the credit limit from HDBank will help the Corporation strengthen its solid financial resources to import LNG, ensuring the progress and operational efficiency of these two key projects.
The cooperation between HDBank and PV Power is a practical step in the roadmap to connect finance with energy transition, contributing to realizing sustainable development goals and Vietnam's commitment to reduce net emissions to 0 (Net Zero) by 2050 according to the COP26 Declaration.
As a leading bank in green credit, HDBank is pioneering in financing many areas with positive impacts on the environment and society such as: renewable energy, organic agriculture and high-tech applications, and recently LNG projects - an important transitional energy source from fossil fuels to renewable energy. To date, HDBank has disbursed a cumulative amount of VND31,000 billion since 2019 for green sectors.
According to Mr. Tran Hoai Nam - Permanent Deputy General Director of HDBank, the bank always accompanies businesses and the Government in key projects on energy conversion, renewable energy and LNG power. This is a consistent step to contribute to the development of the green economy and realize Vietnam's net emission reduction target.
With a focus on "Responsible Credit", HDBank has fully integrated ESG (Environment - Society - Governance) factors into the corporate credit granting process through the environmental and social risk management system (ESMS). Accordingly, 100% of loans are assessed and appraised according to sustainable development criteria.
Through specific action programs, HDBank is gradually realizing the strategy of "Sustainable pioneering - Reaching national level", contributing to the creation of a modern financial system, accompanying the country in energy transition and sustainable development.
