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FiinRatings and Indochine Counsel release a Report on Bankability of Renewable Energy Projects upon PDP8

Indochine Counsel Press Release

Ho Chi Minh City, 26 June 2023 – On 15 May 2023, the Government of Vietnam issued the long-awaited National Power Development Plan for 2021 – 2030, with a vision to 2050 ("PDP8") after multiple drafts and revisions. While PDP8 provides a master plan and lays the foundation for implementing the country's electricity development projects, including renewable energy, there is still a long way to go in providing further implementation guidance.

One of the many concerns from a foreign investment and financing perspective is the bankability of the projects under current regulations and with this new policy document. We are delighted to jointly bring to investors, lenders, and any interested stakeholders in the market a special report to summarize key issues for a foreign investor and lenders when considering investments and lending in renewable projects in Vietnam.

This report aims to present the views of investors and lenders on the financing, credit rating and legal aspects of the Vietnam renewable energy sector. We believe that Vietnam has enormous potential for developing clean energy sources, but also faces significant challenges in achieving its net-zero emissions goal. The time is ripe for seizing the opportunities and overcoming the obstacles in this vital sector. The report is available for download here.

About FiinRatings

FiinRatings Joint Stock Company, a member of FiinGroup and a technical collaboration partner with S&P Global Ratings, is a local licensed Credit Rating Agency in Vietnam. FiinRatings provides credit ratings and related services to issuers, creditors and investors in Vietnam credit market. FiinRatings is also Vietnam first green bonds approved verifier, in accordance with the green bond international standard by the Climate Bonds Initiative. For more information, please visit

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About FiinGroup

FiinGroup is Vietnam’s leading provider of financial data analytics platforms, business information, market research and consulting, credit ratings, and other data-driven analytics services via Platform as a Service (PaaS), annual package, and on-call services. For more information about FiinGroup, please visit:

About Indochine Counsel

Indochine Counsel, one of Vietnam’s premier law firms, specializes in business law and has a team of twenty-five lawyers across its offices in Ho Chi Minh City and Hanoi. Established 17 years ago, Indochine Counsel currently has six partners and one senior counsel, equipped to provide businesses with full legal services and handle various types of projects and transactions, including financing and M&A. For more information about Indochine Counsel, please visit

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