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After months of confusion and uncertainty over renewable energy projects in Vietnam, Prime Minister Nguyen Xuan Phuc announced that the country would resume solar auctions and decided to abolish the feed-in tariff (FiT) mechanism
.
Nguyen Xuan Phuc said that for the feed-in tariff subsidy, everything is not over, except that rooftop solar can continue to be enjoyed, it is still applicable to solar projects
that have signed power purchase agreements and started construction in 2020 or put into operation this year.
In April 2017, Vietnam issued a measure to give a feed-in tariff subsidy of 9.
35c/kWh, but the measure expired
five months ago.
In the past two years, the implementation of feed-in tariff subsidies has greatly promoted the development of
solar energy in Vietnam.
As of July 2019, Vietnam has started operating nearly 4.
5 GW
of solar power capacity.
This is 500%
higher than the projected 850 MW forecast by 2020.
This speaks volumes about the development of Vietnam's renewable energy sector and how the private sector can play a role
in the development, financing and construction of these projects.
In addition, Nguyen Xuan Phuc also mentioned the weak grid infrastructure in Vietnam, saying that the lack of grid infrastructure is the main factor
affecting the growth of the renewable energy industry.
Earlier this year, the Asian Development Bank (ADB) signed a US$37 million loan agreement to finance
the installation of a 47.
5 MW floating solar project in Vietnam.
The global lender signed an agreement with DHD Hydropower Vietnam to facilitate DHD's installation of floating solar
on artificial reservoirs for existing hydropower projects.
In 2018, the U.
S.
Trade and Development Agency (USTDA) awarded a grant to Vietnam's state-owned power company, Vietnam Electric Power Company (EVN), to study the feasibility of
deploying advanced energy storage technology in Vietnam.
These technologies, including battery energy storage systems, will help EVN reduce power shortages and losses and support increased renewable generation
nationwide.
After months of confusion and uncertainty over renewable energy projects in Vietnam, Prime Minister Nguyen Xuan Phuc announced that the country would resume solar auctions and decided to abolish the feed-in tariff (FiT) mechanism
.
Nguyen Xuan Phuc said that for the feed-in tariff subsidy, everything is not over, except that rooftop solar can continue to be enjoyed, it is still applicable to solar projects
that have signed power purchase agreements and started construction in 2020 or put into operation this year.
In April 2017, Vietnam issued a measure to give a feed-in tariff subsidy of 9.
35c/kWh, but the measure expired
five months ago.
In the past two years, the implementation of feed-in tariff subsidies has greatly promoted the development of
solar energy in Vietnam.
As of July 2019, Vietnam has started operating nearly 4.
5 GW
of solar power capacity.
This is 500%
higher than the projected 850 MW forecast by 2020.
This speaks volumes about the development of Vietnam's renewable energy sector and how the private sector can play a role
in the development, financing and construction of these projects.
In addition, Nguyen Xuan Phuc also mentioned the weak grid infrastructure in Vietnam, saying that the lack of grid infrastructure is the main factor
affecting the growth of the renewable energy industry.
Earlier this year, the Asian Development Bank (ADB) signed a US$37 million loan agreement to finance
the installation of a 47.
5 MW floating solar project in Vietnam.
The global lender signed an agreement with DHD Hydropower Vietnam to facilitate DHD's installation of floating solar
on artificial reservoirs for existing hydropower projects.
In 2018, the U.
S.
Trade and Development Agency (USTDA) awarded a grant to Vietnam's state-owned power company, Vietnam Electric Power Company (EVN), to study the feasibility of
deploying advanced energy storage technology in Vietnam.
These technologies, including battery energy storage systems, will help EVN reduce power shortages and losses and support increased renewable generation
nationwide.
