Singapore’s SP Group, along with more than 20 foreign power companies from the Philippines, Thailand, Japan, and other markets, is pressing Vietnamese authorities for urgent talks after prolonged payment delays from Vietnam Electricity (EVN) put multiple renewable energy projects at risk. The delays follow a sudden rule change at EVN, creating financial uncertainty and straining project operations.

In a joint letter dated November 3, investors highlighted that EVN has partially paid or completely halted payments since January 2025, with some cases going back to August 2022. The letter, addressed to Vietnam’s ministers of industry and trade, justice, and finance, emphasised that the ongoing delays are “deeply concerning” and continue to impose heavy burdens on affected projects and investors.

Signatories include the Philippines’ ACEN, Thailand’s B Grimm Power and Gulf Energy, and Japan’s Mitsubishi HC Capital and Chubu Electric Power. The group noted that more than 80 prior communications from investors, embassies, and business associations have urged Hanoi to implement a fair and transparent solution, underscoring the urgency of resolving the impasse.

This appeal follows two earlier formal petitions from foreign investors, which outlined specific concerns and recommended actions. Delayed payments threaten project financing, operational continuity, and investor confidence in Vietnam’s renewable energy sector. With global attention on solar and clean-energy investments, prolonged disputes could have wider implications for foreign capital inflows and the country’s green transition ambitions.

Stakeholders are seeking immediate dialogue with Hanoi to restore certainty, ensure financial stability for ongoing projects, and safeguard the momentum of renewable energy development. Investors warn that without prompt resolution, some projects could face operational setbacks or even collapse, affecting Vietnam’s broader energy transition targets.

The coordinated move highlights rising tension between foreign investors and EVN, reflecting the critical need for regulatory clarity and reliable contract enforcement in Vietnam’s growing solar and renewable energy market.

Discover how foreign investors are seeking urgent action to protect Vietnam’s renewable energy sector in the full article.