TOKYO — More than 40 power project owners in Vietnam’s wind and solar sectors have said they are at risk of defaulting and have called on the government to uphold the purchasing price at the favorable fixed rate previously agreed.
In recent years, Vietnam has promoted renewable energy by committing to purchase electricity at above-market prices for 20 years as part of a global shift towards cleaner energy sources. This move is also intended to address the country’s growing electricity demand as its economy expands at one of the fastest rates in the world.
