越南“违约”降电价？130亿美元新能源项目面临危机

Group 1 - The Vietnamese government has altered its renewable energy subsidy policy, reducing the feed-in tariff (FiT) from 7.09 to 9.35 cents per kilowatt-hour to only 4.7 cents when paid in local currency, representing a cut of 34% to 50% [1] - The changes primarily affect solar energy projects, with many investors reporting delays or reductions in payments from the Vietnam Electricity (EVN) [1] - Investors are expressing concerns over cash flow issues and increased default risks due to EVN's alleged violations of loan agreements, which threaten project sustainability and overall business operations [4] Group 2 - Over 40 foreign and local investors, including companies from Japan, Thailand, the Philippines, Portugal, and the Netherlands, signed a joint letter urging the Vietnamese government to maintain contract integrity and regulatory consistency [4] - The letter highlights that the ongoing dispute poses serious risks to investor confidence, financial stability, and Vietnam's long-term energy and climate goals [4] - Vietnam's economy, heavily reliant on foreign capital and competitive energy prices, is projected to grow by 8% this year, but faces increasing energy demand and power shortages in the northern region [4] Group 3 - EVN reported a loss of nearly $1 billion last year, following an $800 million loss in 2022, and is expected to remain in deficit in the first half of 2024 despite a planned price increase [5] - Government officials maintain that only projects meeting all formal requirements are eligible for the preferential electricity prices, contributing to the ongoing tensions [5] - The lack of clarity in the government's stance has damaged investor confidence and the stability of existing projects, with calls for constructive actions to resolve the disputes [6]