Nexif Ratch Energy has announced a significant milestone in the development of its 80MW Ben Tre Wind Power Plant project in Vietnam. After the expiration of the Feed-in Tariff (FiT) regime in October 2021, the company has successfully signed Amendment and Supplement Agreements to the original Power Purchase Agreements (PPAs) with Vietnam Electricity (EVN). This breakthrough marks one of the first transitional wind energy projects in Vietnam to sign a revised PPA.
The Vietnamese government has been working to establish a new pricing mechanism that reflects lower renewable energy investment costs while continuing to attract long-term private investment. Nexif Ratch Energy has worked closely with relevant authorities to agree on a revised tariff, positioning the project as a key part of Vietnam’s renewable energy landscape. The successful negotiations with EVN demonstrate strong cooperation among key stakeholders, including EVN and its subsidiary, Electricity Power Trading Company (EPTC).
Vietnam has taken significant steps towards strengthening its regulatory framework and accelerating the transition to cleaner energy sources. The government has enacted new laws, decrees, and guidelines related to the power sector, and revised the Power Development Plan 8 (PDP8), which proposes ambitious new renewable energy targets. These efforts aim to drive growth in the renewable energy sector while keeping Vietnam competitive in attracting investment in green infrastructure.
The signing of the amended PPAs marks a significant step towards financial close, with construction scheduled to begin in the second half of 2025. Nexif Ratch Energy’s commitment to delivering sustainable and reliable energy to Vietnam’s national grid will support the country’s energy transition and contribute to the development of a greener future. The company’s Chairman, Surender Singh, praised the Vietnamese government for its proactive efforts in driving the country’s energy transition, while CEO Cyril Dissescou thanked EPTC for their close collaboration.
Nexif Ratch Energy is a leading renewable energy company focused on the development, acquisition, construction, and operation of clean-energy projects across the Asia Pacific region. The company’s portfolio includes 378 MW of operating, under-construction, and shovel-ready hydro, solar, and wind energy assets, with a development pipeline totaling 3.2 GW across wind, solar, and energy storage projects. With this milestone achieved, Nexif Ratch Energy is poised to play a significant role in Vietnam’s renewable energy sector, supporting the country’s transition to a more sustainable and environmentally-friendly energy mix.