India’s Adani Group plans to collaborate with EVN to expand energy business


(Photo: iStock)

Indian conglomerate Adani Group continues to deepen its collaboration with Vietnam's power generator. Sudipta Bhattacharya, Chief Technology Officer and CEO of Adani Group - North America Region, visited Vietnam Electricity Group (EVN) on Jan. 31 this year, to discuss enhancing cooperation opportunities in energy sector.

During discussions with Nguyen Anh Tuan, General Manager of EVN, Bhattacharya expressed Adani Group's interest in expanding its investments in Vietnam, specifically in power transmission projects, thermal power plants, conventional power plants, and hoped that EVN would participate and consult relevant information.

Tuan not only outlined the status of the Vietnamese power market but also elucidated the ambitious goals of Vietnam's National Power Development Plan (PDP8) and serves as recommendations for the Adani Group's investment initiatives.

Jayant Parimal, CEO of Adani Green Energy, expressed to the Vietnamese government for the first time that the group's interest in investing in renewable energy development sector with estimate capacity up to 1,000 MW in 2018. Today, Adani Phuoc Minh Wind Power Plant with a capacity of 27.3 MW and Adani Phuoc Minh Solar Farm with a capacity of 50 MW was completed and put into operation.

Vietnamese Prime Minister Pham Minh Chinh met with Adani Group founder Gautam Adani in December 2023. (Photo: VGP)

Gautam Adani, the founder of the Adani Group and known as an Indian billionaire, visited Vietnam in Dec. 2023. During the meeting with Vietnamese Prime Minister Pham Minh Chinh, he highly praised Vietnam's investment environment. He also pledged to invest 10 billion USD in renewable energy, ports, logistics, and infrastructure projects in the next 10 years, including the Da Nang City Lien Chieu Port project.

According to the EVN statement, Adani Group is India's largest energy company. In 2023, the group has a revenue of 33 billion USD, a profit of 2.9 billion USD, and 29,000 employees worldwide.

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