HCMC – Investors and financial institutions have filed another urgent petition, urging authorities to maintain the existing power purchase prices for renewable energy projects.
The petition concerns the handling of 173 wind and solar power projects that have achieved Commercial Operation Date (COD) but had not received official acceptance approval at the time of commissioning.
A total of 44 organizations and renewable energy investors signed this second petition. Signatories include the Binh Thuan Renewable Energy Association, 16 foreign investors, and various domestic renewable energy developers.
Renewable energy investors said the letter serves as an official response to recent unilateral actions, including partial withholding of electricity payments, retroactive changes to COD dates and FIT pricing, and pressure to revise signed power purchase agreements.
They contend these actions violate their legal rights under existing contracts and run counter to current laws as well as recent resolutions issued by the Politburo and the Government.
Under the valid power purchase agreements and current laws, there is no legal basis for Electric Power Trading Company (EVNEPTC) to withhold a portion of electricity payments or apply temporary pricing schemes that differ from the rates previously agreed upon.
Since January this year, the power purchaser has “unilaterally withheld part of the payment by applying a temporary pricing scheme proposed by EVNEPTC itself.”
On March 5, investors representing 48 renewable energy projects submitted their first petition to senior government leaders and the Ministry of Industry and Trade.
Following that, EVNEPTC held a meeting with the investors. However, in their latest petition, the investors said EVNEPTC’s proposals “not only failed to address the core issues but also heightened investor concerns.”
