return icon Vietnamnet.vn

Experts warn of scorching-hot growth of solar power in Vietnam

The total capacity of solar power projects registered by investors has become nearly 10 times higher than the targeted level.

The solar power market began exploding in November 2017, when the Prime Minister signed Decision 11, setting the highest ever FIT (feed in tariff) of 9.35 cent per kwh, or VND2,086 for solar power. The electricity purchase price is applied for 20 years to power projects that became operational prior to June 31, 2019.

 

{keywords}

 

 


The decision triggered a wave of hundreds of businesses pouring hundreds of trillions of dong into solar power projects.

Preliminary studies by the Renewable Energy and Energy Efficiency (4E), a project implemented by GIZ, the German organization for cooperation and development, and the Ministry of Industry and Trade’s Department of Electricity and Renewable Energy found that the total economic potential of solar ground mounted power would be 7GW at least by 2020, which is by far higher than the national target of 0.8 GW by 2020.

It is easy to call for investments in solar power projects and renewable energy projects in general when the government sets a high FIT (feed in tariff) price. However, it is difficult to program solar power development.

Hoang Tien Dung, director of the department, said that 92 solar power projects with the total capacity of 4,693 MW have been put into commercial operation.

Also, 135 projects with the total capacity of 13,000 MWp (10,000 MW) have been added to the national electricity development strategy.


It is easy to call for investments in solar power projects and renewable energy projects in general when the government sets a high FIT (feed in tariff) price. However, it is difficult to program solar power development.

Experts warn that solar power is in ‘overly hot development’ with the list of cities and provinces having solar power projects comprising over 30 names.

The hot development of solar power plants has put a burden on the electricity transmission system.

State management agencies say they have not been informed about the locations of projects, so they find it difficult to program the transmission network throughout the regions.

In Binh Thuan alone, there are 100 solar power projects with the total capacity of 4,000 MW, 10 times more than wind power capacity and much higher than the capacity mentioned in the seventh national electricity development strategy.

It is the lack of synchronization in the development of power generation and transmission line which has caused the serious overloading to the transmission system.

Ninh Thuan is also the choice of many solar power developers as it is sunny and hot all year round. The Prime Minister and Ministry of Industry and Trade have licensed 30 projects so far with total capacity of 1,817 MW and investment capital of VND50 trillion, a report said. Meanwhile, 26 other projects are being considered. 

Thanh Mai

 

$43mn solar power plant inaugurated in Ninh Thuan

$43mn solar power plant inaugurated in Ninh Thuan

The 45-MW Phuoc Ninh solar power plant was officially inaugurated in Thuan Nam district in south-central Ninh Thuan province on June 22.

HCM City targets 1,000 MWp of rooftop solar power at industrial zones by 2024

HCM City targets 1,000 MWp of rooftop solar power at industrial zones by 2024

HCM City aims to have 1,000 MWp of rooftop solar power capacity installed by 2024 in its industrial parks, export processing zones and high-tech parks, up from 700MWp now.

MORE NEWS

VIETNAM NEWS HEADLINES JANUARY 30

NA leader launches emulation drive, tree planting festival in Tuyen Quang

Nearly 43,900 businesses pull out of market in January

Some 43,900 businesses have withdrawn from the local market in the year to date, up 14.4% year-on-year, according to the Agency for Business Registration under the Ministry of Planning and Investment.

VIETNAM BUSINESS NEWS JANUARY 30

Retail sales of goods, services up 20% in January

Vietnam to send 20 teams to VEX Robotics World Championship 2023

Vietnam is allowed to send 20 teams to the VEX Robotics World Championship 2023 (VEX Worlds), scheduled to be held in May this year in Dallas city in the US state of Texas.

Transport Ministry backs Binh Phuoc’s airport plan

The Ministry of Transport has thrown its weight behind Binh Phuoc Province’s proposal to convert its military airfield in Hon Quan District into a specialized airport.

120-year-old stone church in Da Nang still open to visitors

Built of stone and nearly 120 years old, Tung Son church has retained its special features.

Border gates in Lang Son, Quang Ninh reopen after Tet holiday

The border gates in Quang Ninh and Lang Son provinces have resumed operation after a week-long suspension of customs clearance for the Lunar New Year holiday (Tet).

Foreign investors remain optimistic about VN stock market

Foreign investors' confidence in the Vietnamese stock market is reflected in net buying activities, especially in the last months of 2022.

Tax and land-use fee reductions should continue in 2023: Finance Ministry

The Ministry of Finance (MoF) said tax support policies and land-use fee reductions for businesses should be continued throughout 2023 despite shortfalls in state budget collection.

State-owned banks under capital increase pressure

Vietnam’s four biggest State-owned banks have an urgent need for capital increase in 2023 as their charter capital is too low, with some unable to ensure the regulated minimum capital adequacy ratio (CAR), according to industry insiders.

Foreign suppliers pay US$76.7 million in taxes via online portal

On the first working day after the 2023 Lunar New Year, foreign suppliers such as Facebook, Google and Apple declared and paid taxes worth US$76.7 million.

VN in need of huge amounts of soil, sand, stone for expressway projects

The Transport Ministry has just proposed that Deputy PM Tran Hong Ha direct localities to urgently increase the exploitation capacity of stone, soil, and sand mines to serve the needs of North – South Expressway project in the 2021-2025 period.

HCM City to get cracking on key transport projects in 2023

HCM City will focus on speeding up major transport works this year.

Target set to raise proportion of manufacturing technology in GDP to 30% by 2030

The Ministry of Industry and Trade has set a target of an average industrial value-added growth rate of over 8.5% per year, with the proportion of the manufacturing industry as part of GDP reaching about 30% by 2030.

Provinces organise activities to lure tourists over Tet holiday

The ritual at Princess Huyen Tran Temple in Hue this year took place over the weekend at the Ngu Phong Mountain Complex, about 7km southeast of Hue.
back_to_top