Nexif Ratch Energy has successfully signed Amendment and Supplement Agreements to its original Power Purchase Agreements (PPAs) with Vietnam Electricity (EVN) on 18 April 2025, marking a significant milestone for its 80MW Ben Tre Wind Power Plant project.
This agreement positions the Ben Tre Wind Power Plant as one of Vietnam’s first transitional wind energy projects to secure a PPA following the expiration of the Feed-in Tariff (FiT) regime in October 2021. In response to the FiT phase-out, the Vietnamese government introduced a new pricing framework reflecting decreased investment costs while encouraging long-term private sector involvement.
Nexif Ratch Energy collaborated closely with EVN and its subsidiary, the Electricity Power Trading Company (EPTC), to reach this revised tariff agreement. This achievement demonstrates effective stakeholder cooperation and highlights Vietnam’s ongoing effort to strengthen its renewable energy regulatory environment.
The 80MW Ben Tre project is among Vietnam’s first transitional wind energy developments.
The announcement coincides with Vietnam’s broader clean energy ambitions, including the updated Power Development Plan 8 (PDP8), which targets an additional 16.1GW of onshore and nearshore wind, and 27.9GW of utility-scale solar capacity by 2030.
Surender Singh, Chairman of Nexif Ratch Energy’s board of directors, praised Vietnam’s proactive stance:
“Structural changes in the energy sector require strong coordination among all parties. As demonstrated by the Ben Tre Wind Power Plant, success depends on enduring partnerships that can navigate complexity and unlock sustainable growth.”
Cyril Dissescou, CEO of Nexif Ratch Energy, also commended the team’s resilience:
“This milestone reflects our dedication to Vietnam’s clean energy future and the effectiveness of our collaboration with EPTC. We’re proud to be at the forefront of this energy transition.”
With the amended PPAs now in place, the project is moving toward financial close. Construction is expected to commence in the second half of 2025, reinforcing Nexif Ratch Energy’s role in advancing Vietnam’s renewable energy agenda.
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