Hanoi , May 27, 2025 – In a significant step forward for Vietnam's clean energy ambitions, HDF Energy, a global pioneer in hydrogen power solutions, and Southern Power Corporation (EVNSPC), a subsidiary of Vietnam Electricity (EVN), have signed a Memorandum of Understanding (MoU) to jointly explore the development of green hydrogen power projects. The collaboration will focus on remote islands in southern Vietnam. The MoU was signed during a high-level ceremony in Hanoi, held on the occasion of French President Emmanuel Macron's official state visit, and attended by key representatives from Ministries, State-Owned Enterprises, and the private sector.

Vietnam's vast network of islands and archipelagos faces persistent energy reliability issues, with many remote communities still dependent on diesel generators. These conventional systems not only generate significant environmental pollution but also suffer from operational instability due to complex fuel logistics. As Vietnam seeks sustainable and resilient energy alternatives, green hydrogen-based energy offers a transformative solution to provide stable, 24/7 clean electricity, reducing dependence on fossil fuels and supporting the long-term socioeconomic development of island populations.

HDF Energy specializes in the development and operation of high-capacity Renewstable® power plants, innovative facilities combining a solar park with substantial on-site energy storage in the form of green hydrogen and high-power fuel cells to provide on demand, stable and 100% clean electricity to the grid, day and night. Through this partnership with EVNSPC, HDF Energy aims to establish a scalable and replicable model for non-intermittent renewable energy deployment in off-grid and island communities. By leveraging HDF Energy's cutting-edge hydrogen technology with EVNSPC's extensive expertise in power distribution, the initiative seeks to unlock new opportunities for sustainable energy development across Vietnam.

Under the MoU, HDF Energy and EVNSPC will jointly coordinate hydrogen initiatives through appointed representatives. The partnership includes conducting technical and feasibility studies, identifying project sites, engaging local authorities, and aligning investment and engineering teams. It also promotes knowledge-sharing on hydrogen technologies and applications. This collaboration reflects a shared commitment to accelerating Vietnam's energy transition and advancing innovative, clean and reliable energy solutions for underserved communities.

The MoU was officially signed by Mr. Nguyen Phuoc Duc, CEO of EVNSPC and Mr. Damien Havard, Chairman and CEO of HDF Energy, in the presence of (from left to right) Mr. Mathieu Geze, Director APAC of HDF Energy, Mr. Éric Lombard, French Minister of Economy, Finance and Industrial and digital sovereignty, Ms. Phan Thi Thang, Deputy Minister of Ministry of Industry and Trade (MOIT), Mr. Dang Hoang An - Chairman of EVN, Mr. Tran Khanh Viet Dung, Business Development Manager Vietnam of HDF Energy.

Speaking at the MoU signing ceremony, Mr. Nguyen Phuoc Duc, General Director of EVNSPC expressed enthusiasm about the partnership, stating: “This collaboration will contribute to accelerating the energy transition in Vietnam, particularly on off-grid islands managed by EVNSPC, by ensuring stable 24/7 electricity supply at a lower cost compared to diesel-generated power. We deeply value this partnership and extend our sincere thanks to the French Embassy, relevant authorities, and Vietnam Electricity (EVN) for their continued support throughout our development journey. We believe this initiative is a meaningful testament to the strength of the France–Vietnam partnership in advancing sustainable energy development.”

Damien Havard, Chairman and CEO of HDF Energy, also commented: “This partnership with EVNSPC marks an important moment for HDF Energy in Vietnam. By combining our expertise in green hydrogen technology with EVNSPC's deep knowledge of the local energy landscape, we are laying the groundwork for a scalable solution to bring clean, reliable power to remote island communities. It's a concrete step toward achieving energy independence and sustainability for regions long underserved by traditional infrastructure”

ABOUT SOUTHERN POWER CORPORATION (EVNSPC)

EVNSPC is a member subsidiary of Vietnam Electricity, managing the power distribution grid at 110 kV and below, and operating electricity sales in the southern provinces and cities of Vietnam.

With a strong commitment to modernization and renewable energy integration, EVNSPC plays a vital role in ensuring reliable power supply and supporting Vietnam's sustainable energy goals.

More information, visit: https://evnspc.vn/

ABOUT HYDROGÈNE DE FRANCE (HDF Energy)

HDF Energy is a leading global player in the hydrogen industry, dedicated to developing large-scale hydrogen infrastructure and advanced multi-megawatt fuel cell technology.

These fuel cells generate electricity from hydrogen, driving the decarbonization efforts across the power generation, heavy maritime and rail mobility sectors. Set to commence mass production in 2025 at HDF Energy's facility near Bordeaux, these fuel cells serve as the cornerstone of the power plants and heavy mobility solutions developed by HDF Energy.

HDF Energy's Renewstable® power plants deliver non-intermittent renewable, stable and baseload power by seamlessly integrating intermittent renewable energy sources with substantial on-site energy storage in the form of green hydrogen. HDF Energy is also developing extensive infrastructure for the mass production of carbon-free hydrogen.

Backed by a team of over 150 hydrogen experts boasting more than a decade of operational experience across the value chain, HDF Energy is currently developing a portfolio of advanced projects valued at over €3 billion.

Headquartered in France, HDF Energy has regional offices in Latin America, the Caribbean, Africa, and the Asia-Pacific region with 35+ nationalities among its staff. Since 2021, the Group has been listed on the Euronext Paris stock market.

More information, visit: www.hdf-energy.com

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