Trung Nam Construction Investment Joint Stock Company (Trungnam Group) and HSBC Bank Vietnam Ltd. (HSBC Vietnam) signed a Letter of Intent on February 15.

HSBC Vietnam will conduct work evaluation and provide solid financial solutions for Trungnam Group in future renewable energy projects.

Alok Sharma, Chairman of the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26), attended the signing ceremony on his visit to Viet Nam.

Following the successful signing of a strategic cooperation agreement with Vietcombank, one of the country's top financial institutions on January 20, 2022, Trungnam Group was chosen by HSBC Vietnam to collaborate on the Group's renewable energy projects.

The agreement will enable Trungnam to leverage its worldwide investment banking network and get access to capital markets in Viet Nam and around the world, focusing on sustainable development initiatives, and developing a finance strategy in line with the Group's future business ambitions.

The move is a tribute to Trungnam's prestige, brand, and ability to create strategic renewable energy projects in Viet Nam, ushering in a new stage of development for the group and adding value to the country's green energy industry.

Nguyen Tam Thinh, chairman of Trungnam Group, said: "We are proud to collaborate with HSBC Vietnam as one of the world's most prominent financial institutions with a history spanning more than 150 years."

"The collaboration between the world's leading financial institution and Viet Nam's leading renewable energy company will generate critical financial solutions, assisting the company's future growth of strategic projects.

Trungnam Group will increase its capacity in renewable energy to 3.8GW and 1.5GW of LNG Power by 2025, while also fulfilling the Vietnamese Government commitments at COP26.” — VNS