HDBank Backs PV Power with VND 2,000 Billion Green Loan to Boost Vietnam’s Clean Energy Transition

In a significant step toward supporting Vietnam’s energy transition and green finance goals, Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has signed a VND 2,000 billion credit agreement with Vietnam Oil and Gas Power Corporation – Joint Stock Company (PV Power). The deal was formalized at a ceremony in Hanoi and marks a milestone in Vietnam’s roadmap to diversify its energy mix and reduce emissions.

PV Power, a key electricity producer under the Vietnam National Oil and Gas Group (Petrovietnam), will utilize the credit line primarily to import liquefied natural gas (LNG)—a vital fuel source for the operation of Nhon Trach 3 and Nhon Trach 4 gas-fired power plants. These are the country’s first power projects to use LNG as the primary fuel and are categorized as national key infrastructure developments.

With a combined capacity of 1,624 MW and a total investment of USD 1.4 billion, the two plants are expected to contribute approximately 9 to 12 billion kWh annually to Vietnam’s power grid. Construction began in 2022, and Nhon Trach 3 is slated for commercial operation by Q3 2025, followed by Nhon Trach 4 in Q4 2025.

At the signing ceremony, Mr. Nguyen Duy Giang, Deputy General Director of PV Power, underscored the significance of the loan, stating that it would strengthen the company’s financial capacity to procure LNG and ensure timely project delivery and operational stability.

This strategic financing aligns with Vietnam’s commitment to achieving net-zero emissions by 2050, as declared at COP26. The partnership between HDBank and PV Power is positioned as a tangible effort to link financial services with the national energy transition strategy.

Mr. Tran Hoai Nam, Permanent Deputy General Director of HDBank, reaffirmed the bank’s commitment to advancing the green economy, stating that HDBank consistently supports key government and corporate initiatives in energy conversion, renewable energy, and transitional fuels such as LNG.

As a recognized leader in green credit, HDBank has disbursed a cumulative VND 31,000 billion since 2019 into sectors such as renewable energy, organic agriculture, high-tech applications, and LNG projects. The bank has also integrated ESG (Environmental, Social, and Governance) principles into its credit evaluation process through an Environmental and Social Risk Management System (ESMS), ensuring that 100% of its loans are assessed against sustainable development criteria.

Through targeted green financing and sustainable lending practices, HDBank continues to play a pivotal role in shaping a modern financial system that supports Vietnam’s long-term development and environmental objectives.