Adani Group's projects in Vietnam at risk amid market turmoil

As a result, its market value has dropped by $100 billion, causing the company to explore measures to shore up its business, including cutting spending and repaying debt. This could impact several of Adani's projects in the region, including two renewable energy projects in Vietnam.

Adani currently has the Adani Phuoc Minh Wind Power Plant and the Adani Phuoc Minh Solar Power Plant in Vietnam's Ninh Thuan province.

However, both projects have faced challenges due to a lack of sufficient power grid infrastructure, causing the plants to run at reduced capacity. Despite this, Adani announced plans to invest $10 billion in projects around Vietnam, including the Lien Chieu Port project in Danang.

As of January 2023, India had 349 projects in Vietnam with total registered capital of just over $1 billion. This number could rise substantially if Adani's $10 billion plan is realized, but its current market difficulties have the potential to derail its ambitions in Vietnam.