French hydrogen energy developer HDF Energy (Hydrogène de France) has signed a strategic memorandum of understanding (MoU) with Vietnam’s Southern Power Corporation (EVNSPC) to develop five green hydrogen-based power plants in southern Vietnam. The agreement was formalized on May 27 at the French Embassy in Hanoi during French President Emmanuel Macron’s official visit to Vietnam.
The MoU, representing a €500 million investment, focuses on building Renewstable® power plants in off-grid and island communities across the South China Sea. These areas currently depend on diesel generators, and the new facilities aim to provide a cleaner, more reliable alternative using renewable energy and on-site hydrogen storage.
The MoU was signed by Damien Havard, CEO of HDF Energy, and Nguyen Phuoc Duc, CEO of EVNSPC, in the presence of senior government and industry officials. Attendees included French Minister Éric Lombard, Vietnamese Deputy Minister of Industry and Trade Phan Thi Thang, EVN Chairman Dang Hoang An, HDF Energy APAC Director Mathieu Geze, and HDF Vietnam Business Development Manager Tran Khanh Viet Dung.
HDF Energy’s Renewstable® technology integrates intermittent renewable sources with large-scale energy storage in the form of green hydrogen and high-power fuel cells. These systems are designed to provide 24/7 baseload power to remote areas not connected to the national grid. The fuel cells will be manufactured at HDF’s facility in Blanquefort, France, with support from the French government under the Important Projects of Common European Interest (IPCEI) program.
The agreement follows HDF Energy’s participation in a high-level breakfast meeting with President Macron and Vietnamese Deputy Prime Minister Tran Hong Ha, alongside ministers and four leading energy companies. During the meeting, HDF presented its hydrogen power solutions as part of discussions on Vietnam’s energy transition.
“This agreement marks a key milestone in our deployment strategy in Vietnam,” said Damien Havard, CEO of HDF Energy. “With our green hydrogen-based solutions, we offer a concrete, integrated, and sustainable response to the country’s energy transition challenges. The timing of this MoU—during President Macron’s visit—underscores the confidence in HDF’s technology and the importance of French-Vietnamese industrial collaboration.”
EVNSPC CEO Nguyen Phuoc Duc added: “This collaboration will contribute to accelerating the energy transition in Vietnam, particularly for the off-grid islands under our management. It ensures stable, round-the-clock electricity supply at a cost lower than diesel-based power. We appreciate the support of the French Embassy, EVN leadership, and all relevant authorities who facilitated this partnership.”
The project reflects growing momentum for hydrogen energy in Southeast Asia and strengthens the France–Vietnam relationship in the pursuit of sustainable energy solutions.
