French energy giant plans $500 mln investment in green Vietnam projects

French green hydrogen infrastructure developer HDF Energy is looking to invest $500 million in potential energy and transport projects across Vietnam, particularly the southern economic hub of Ho Chi Minh City.

The information was shared by Tran Khanh Viet Dung, HDF Energy’s country director in Vietnam, during a meeting with HCMC People’s Committee Vice Chairman Bui Xuan Cuong on Thursday.

HDF Energy, founded in 2012 and operating a representative office in Hanoi since 2022, specializes in developing low- to zero-emission power generation projects using hydrogen.

In Vietnam, the company has partnered with ministries and major state-owned groups in renewable energy, transportation, maritime operations, and petrochemicals, according to Dung.

He expressed his hope that the city leadership would facilitate HDF Energy’s development of a green hydrogen-powered river bus line on the Saigon River, cooperation on a green port project at Can Gio, green-energy supply initiatives for the Con Dao Special Administrative Zone, as well as its research and development of a hydrogen-powered urban rail line, according to the city’s news portal.

Earlier in April 2025, HDF Energy proposed deploying model projects of hydrogen-integrated renewable energy on Vietnamese islands, such as Phu Quy in the former Binh Thuan province (now part of Lam Dong province) and Phu Quoc, Nam Du and An Son in the former Kien Giang province (now part of An Giang province).

In response, Cuong expressed strong support for HDF Energy’s plan to invest in green transition projects in transport, industry, and environmental management. HCMC, he said, is committed to providing favorable conditions and working closely with the company to carry out proposed initiatives.

Speaking at the event, HDF Energy APAC project origination manager Nina Murillo informed that headquartered in France, HDF Energy operates offices in Latin America, the Caribbean, Africa, and Asia-Pacific, with a team of roughly 150 hydrogen specialists from more than 35 countries. The firm was listed on Euronext Paris in 2021.

HDF Energy is currently developing a project pipeline valued at over €3 billion ($3.46 billion), focusing on large-scale hydrogen infrastructure and hydrogen-powered fuel cell technology to reduce emissions in the energy, maritime transport, and rail sectors.

By Minh Hue – Theinvestor.vn – November 23, 2025