Trung Nam Renewable Energy raises $73 mln in private bond issuance
Trung Nam Renewable Energy Corporation has successfully raised VND1.93 trillion ($73.28 million) through a private bond issuance with a four-year tenor and annual interest rate of 10.7%.
The bonds were issued from May 18-19, according to the Hanoi Stock Exchange
Trung Nam Renewable Energy, formerly known as Trung Nam Energy Corporation, was established in 2020 as a member of Trung Nam Group.
In December 2021, the company increased its charter capital from VND3.21 trillion to over VND9.08 trillion ($344.88 million) and changed its name to Trung Nam Renewable Energy. Nguyen Tam Thinh is chairman and legal representative.
The company is considered one of Vietnam’s leading renewable energy developers, with total installed generation capacity reaching 1,360 megawatts as of September 30, 2025. Its portfolio spans hydropower, solar power and wind energy projects.
Most of the company’s electricity output is sold under Vietnam’s preferential feed-in tariff (FIT) mechanism, providing advantages over traditional power producers.
However, according to FiinRatings, Trung Nam Renewable Energy has recorded substantial receivables linked to the Trung Nam Thuan Nam project due to ongoing inspections regarding the implementation site for 277.88 MW of capacity and unresolved negotiations over electricity pricing for an additional 172.12 MW.
The company has also set aside VND819.1 billion ($31 million) in bad debt provisions related to the project.
Separately, the Dong Nai 2 hydropower project is under inspection over electricity tariffs allegedly exceeding regulatory ceilings, raising risks of retrospective revenue adjustments, interest penalties or reductions in approved selling prices.
Dong Nai 2 hydropower project. Photo courtesy of Trung Nam Renewable Energy Corporation.
According to its financial report for the first half of 2025, Trung Nam Renewable Energy posted after-tax profit of nearly VND468.5 billion ($17.79 million), slightly lower than VND504 billion in the previous period.
The profit helped the company eliminate accumulated losses, with retained earnings turning positive at nearly VND23 billion ($873,350) as of June 30, 2025.
At the same date, shareholders’ equity stood at more than VND11.2 trillion ($425.28 million), including over VND9.08 trillion ($344.9 million) in charter capital and over VND2.57 trillion in non-controlling interests.
The company’s liabilities-to-equity ratio was recorded at 2.8 times, equivalent to total liabilities of more than VND31.3 trillion ($1.19 billion). Outstanding bond debt accounted for more than VND15 trillion ($569.62 million).
- Related News
- Read More
Trung Nam Renewable Energy raises $73 mln in private bond issuance
Trung Nam Renewable Energy Corporation has successfully raised VND1.93 trillion ($73.28 million) through a private bond issuance with a four-year tenor and annual interest rate of 10.7%.
Companies - Wed, May 27, 2026 | 2:32 pm GMT+7
Vinhomes gold-for-property scheme sparks debate over liquidity boost and financial risks
A new program allowing homebuyers to exchange gold for real estate is drawing attention in Vietnam as developers seek to channel idle household gold holdings into the property market through a structure tied to gold valuation and guaranteed returns.
Real Estate - Wed, May 27, 2026 | 9:03 am GMT+7
PVFCCo expands agricultural cooperation in Laos
As Vietnam and Laos continue to strengthen bilateral ties, agricultural cooperation between the two countries is expanding, with Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo or Phu My) seeking to reinforce the position of Vietnamese fertilizer products in supporting Lao farmers to improve productivity and develop modern agriculture.
Companies - Tue, May 26, 2026 | 9:37 pm GMT+7
PV Gas posts record revenue equal to 1.1% of Vietnam’s GDP
At its 2026 annual general meeting of shareholders last Friday, PV Gas, a key subsidiary of stated-owned Petrovietnam, received strong shareholder backing after reporting record growth in 2025 despite heightened volatility in global energy markets.
Companies - Tue, May 26, 2026 | 8:35 pm GMT+7
Thaco eyes logistics, urban rail development in central Vietnam investment expansion plans
Vietnamese conglomerate Thaco has proposed a large-scale expansion of its investment footprint in the central province of Lam Dong as local authorities push to accelerate regional economic restructuring.
Industries - Tue, May 26, 2026 | 5:21 pm GMT+7
Vietnam's MBBank digital charity platform wins 2025 World Summit Awards
The Digital Charity Platform, a solution developed and operated by Vietnam's Military Commercial Joint Stock Bank (MB), was recognized at the 2025 World Summit Awards (WSA) in the Government & Citizen Engagement category.
Companies - Tue, May 26, 2026 | 4:34 pm GMT+7
Vinhomes raises $76 mln in latest bond issue amid debt restructuring push
Vinhomes, the housing subsidiary of Vietnam’s conglomerate Vingroup (HoSE: VIC), has raised an additional VND2 trillion ($75.9 million) through a domestic bond issuance, extending a recent fundraising streak as the property developer ramps up debt restructuring efforts and secures fresh capital.
Companies - Tue, May 26, 2026 | 3:16 pm GMT+7
Phat Dat Real Estate shares hit ceiling after tie-up with Lotte on mega project in HCMC
Shares of Phat Dat Real Estate Development Corporation (HoSE: PDR) rose to the daily limit on Tuesday after the company announced a cooperation agreement with Lotte Properties HCM to pursue the VND50 trillion ($1.9 billion) Thu Thiem Eco Smart City project in Ho Chi Minh City.
Companies - Tue, May 26, 2026 | 2:03 pm GMT+7
VinFast appoints son of billionaire Pham Nhat Vuong as chairman
Pham Nhat Quan Anh, the son of billionaire Pham Nhat Vuong, officially assumed the role of VinFast chairman from last Saturday.
Companies - Tue, May 26, 2026 | 12:13 pm GMT+7
VinEnergo Holding launched with over $3 bln capital, signaling possible new energy investment alliance
Vietnamese billionaire Pham Nhat Vuong has established VinEnergo Holding with charter capital of over VND79.76 trillion ($3.03 billion), in a move that could signal the emergence of a new capital alliance in Vietnam’s rapidly expanding energy sector.
Companies - Tue, May 26, 2026 | 11:33 am GMT+7
Hai Phong Thermal Power CEO arrested over alleged document forgery
Hai Phong Thermal Power JSC said its CEO, Duong Son Ba, has been arrested by the Ministry of Public Security's investigative agency for alleged forgery of documents belonging to organizations.
Companies - Tue, May 26, 2026 | 8:00 am GMT+7
Sun PhuQuoc Airways launches Singapore route, connecting two of Asia's 'paradise' islands
Sun PhuQuoc Airways has officially announced the launch of its scheduled flights from Vietnam's largest island Phu Quoc to Singapore.
Travel - Mon, May 25, 2026 | 5:32 pm GMT+7
Profit of Samsung’s 4 major Vietnam plants doubles in Q1, led by Thai Nguyen province site
Four major Vietnam-based subsidiaries of Samsung Electronics reported combined net profits of $1.29 billion in the first quarter of this year, more than double from a year earlier, according to the group’s Q1 consolidated financial statements.
Companies - Mon, May 25, 2026 | 4:48 pm GMT+7
Seta - A “silken thread” weaving contemporary Cantonese cuisine into the soul of Phu Quoc
The union of refined aesthetics and contemporary Cantonese gastronomy, brought to life by chef Victor Ho, is turning Seta at La Festa Phu Quoc, Curio Collection by Hilton into one of Phu Quoc Island’s most coveted fine-dining destinations - a place every discerning gourmand should experience at least once in a lifetime.
Travel - Mon, May 25, 2026 | 4:27 pm GMT+7
FDI shifts 'taste', land banks lose edge as southern Vietnam's industrial property market gets more mature
Southern Vietnam’s industrial real estate market is entering a more mature phase as foreign direct investment (FDI) pivots toward high-tech and green industries, putting greater emphasis on logistics infrastructure, operational capacity and ESG standards over land availability.
Industrial real estate - Mon, May 25, 2026 | 2:35 pm GMT+7
Phu My Investment raises capital for mega seaport project in central Vietnam to over $311 mln
Phu My Investment Group has increased investment capital for the first phase of the Phu My Port project in Gia Lai province by more than VND2.1 trillion ($79.66 million), lifting total investment to over VND8.2 trillion dong ($311 million) as the company moves to expand technical infrastructure and port handling capacity.
Infrastructure - Mon, May 25, 2026 | 2:16 pm GMT+7
