Senior management in ESB International believe Vietnam will be a key growth market in the future.
Speaking at an event to celebrate 25 years of operations in Vietnam, the managing director of ESB International, Ollie Brogan, said the conditions in Vietnam, where surging demand for electricity is driving new investment in energy assets, makes it a perfect growth market.
“We have been operating continuously in Vietnam since 1987 and have lived through its transformation into a modern, high-growth economy where over 98% of the population now has access to electricity,” Mr Brogan said.
“We are committed to being part of the future here and see a very strong market for our services as new generation capacity is added to keep pace with electricity demand increases of up to 13% a year.”
ESB International has worked on a wide range of training and consultancy projects in Vietnam over the past 25 years and is currently acting as owner’s engineer on the second phase of a 1,200MW coal plant at Hai Phong on behalf of the Institute of Energy.
Hoang Trung Hai, the deputy prime minister of Vietnam; Joe Costello, the trade and development minister; and the veteran Irish sports commentator Mícheál Ó Muircheartaigh were among the guests of honour at the event in Hanoi to mark ESB’s 25 years of work in the country.
During the 1990s, Hai was one of a group of Vietnamese executives sponsored by ESB to undertake a training programme at University College Dublin and Trinity College Dublin.
Mr Ó Muircheartaigh’s late brother Paddy Moriarty, a former chief executive of ESB, was one of the key people involved in arranging the sponsorship.
During the event, the deputy prime minister highlighted the contribution that ESB International had made to the electricity sector in Vietnam, noting that, since the company’s first assignment there in the mid-1980s, there has been a 12-fold increase in installed generation capacity.