Recently in Hanoi, BIDV and SP Group (SP) signed a Comprehensive Cooperation Agreement, marking the beginning of a promising partnership between these leading corporations from Singapore and Vietnam.

Speaking at the signing ceremony, Mr. Tran Long, Deputy CEO of BIDV shared:

BIDV is delighted to partner with SP, a regional leader in sustainable energy solutions who is committed to Vietnam’s net-zero ambitions. Our partnership leverages the strengths of both parties to foster a sustainable future for Vietnam. In alignment with SP, BIDV pursues a strategy to position itself as a Green Bank, leading the market in ESG practices and sustainable finance, with the goal of becoming a Net-Zero Bank by 2045. By integrating our financing capabilities with SP’s expertise in sustainable energy, we aim to accelerate Vietnam’s decarbonization journey through investing in more renewable energy projects.

Mr. Brandon Chia, Managing Director of Southeast Asia & Australia, SP Group, said:

Our partnership with BIDV, a leading financial institution in Vietnam, is pivotal in enhancing our sustainable energy capabilities in Vietnam. This agreement marks a significant step forward in SP's commitment towards Vietnam’s sustainability objectives. With BIDV’s competitive financing solutions, we have access to more options when expanding our sustainable energy solutions portfolio to advance the nation’s clean energy transition.

Both parties expressed their commitment to establishing a strategic partnership to leverage each other's strengths and capabilities. BIDV and SP will jointly explore cooperation opportunities related to green projects, promoting each other's green strategies and fostering the development of a green economy. Furthermore, the collaboration is promised to contribute to the mutual prosperity of Vietnam and Singapore, while facilitating maximum access to the sharing of information about future cooperation development opportunities in Vietnam.

Kicking off the comprehensive cooperation agreement between SP Group and BIDV in December 2024, BIDV signed a financing contract for the Chu Ngoc project in Gia Lai – a project that was completed and COD in June 2019, with EVN committed to purchasing all electricity output under a PPA contract with a term of 20 years from the COD date.

SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, as well as sustainable energy solutions in Singapore, China, Thailand and Vietnam. As Singapore’s national grid operator, more than 1.7 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective worldwide. Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast-charging stations and digital energy solutions for customers in Singapore and the region.