Singapore-headquartered Nexif Ratch Energy has reached a significant milestone in its 80MW Ben Tre Wind Power Plant project by signing amended Power Purchase Agreements (PPAs) with Vietnam Electricity (EVN) on 18 April 2025. This development positions the project as one of the first transitional wind energy initiatives in Vietnam to secure a PPA, following the expiration of the Feed-in Tariff regime in October 2021. The Vietnamese government has been proactive in establishing a new pricing mechanism to attract long-term private investment in renewable energy.
The successful negotiations with EVN, including its subsidiary Electricity Power Trading Company (EPTC), highlight strong cooperation among key stakeholders. This achievement is pivotal as Vietnam continues to enhance its regulatory framework and accelerate its transition to cleaner energy sources. The government has revised its Power Development Plan 8 (PDP8), setting ambitious targets for renewable energy, including an additional 16.1GW of wind and 27.9GW of solar capacity by 2030.
Surender Singh, Chairman of Nexif Ratch Energy, praised the Vietnamese government’s efforts, stating, “Structural changes in the energy sector require a strong and coordinated approach between government regulators and importantly investors.” Cyril Dissescou, CEO of Nexif Ratch Energy, expressed pride in the team’s persistence, noting the importance of partnerships in achieving this milestone.
With the amended PPAs signed, the project is advancing towards financial close, with construction slated to begin in the second half of 2025. This progress underscores Nexif Ratch Energy’s commitment to supporting Vietnam’s energy transition and contributing to a greener future.
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