Vietnam at Risk of Mass Power Firms Bankruptcies, Chamber Says
The application of a new power purchasing price by Vietnam Electricity puts 173 solar and wind projects at risk of insolvency.
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Vietnam could experience a wave of bankruptcies of solar and wind producers if the state utility proceeds with its planned change in pricing for renewable energy, the Vietnam Chamber of Commerce and Industry said in a letter to parliament.
The application of a new power purchasing price — which would be implemented retroactively for several years — by Vietnam Electricity, or EVN, puts 173 solar and wind projects at risk of insolvency, according to the March 24 letter the chamber made public Friday. The chamber accused the state-owned monopoly of “a serious violation of contractual principles.”