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Despite bankability concerns inherent in power purchase agreements, investing in renewable power is a bright spot in Vietnam as developers rush to take advantage of the current feed-in tariff.
Due to the impact of the COVID-19 pandemic, the Ministry of Industry and Trade (MoIT) proposed maintaining the FiT for wind power until December 2023, switching to bidding later.
The feed-in tariff (FiT) for biomass power projects will range from VND1,634 to VND1,968 per kWh, exclusive of value-added tax, setting the stage for more investment in biomass electricity.
Positive feed-in tariff incentives have proven a most effective policy tool to induce a rapid growth in renewables, and Vietnam is a prime example of this.