The electricity prices of many wind and solar power projects have yet to be determined following the expiration of the FIT (feed in tariff) policy, worrying investors.
Maintaining FIT prices for those who failed to meet deadline and reimplementing nuclear power projects were among issues raised by foreign investors at the Vietnam Business Forum 2022.
As commitments to reach net-zero greenhouse gas emissions by 2050 increase across the globe, the question of how these commitments can be met and the corresponding economic transformation managed becomes ever more central.
Norwegian Ambassador to Vietnam Grete Løchen and Commercial Counsellor Arne-Kjetil Lian recently have handed over the 'Vietnam Supply Chain Study Report' to Vietnamese Minister of Industry and Trade Nguyen Hong Dien.
Capital flows into green growth projects have still seen positive signals despite adverse impacts from the COVID-19 pandemic on foreign direct investment (FDI) in Vietnam.
Many offshore wind power investors are holding their breath waiting for the next move of the Ministry of Industry and Trade and the Government.
The Feed in Tariff (FIT) price of VND2,000 per kwh will expire in seven months, but the price for the next period has not been fixed yet.
Wind and solar power continues to be prioritized but solutions are needed to ensure the safety of the electricity system when operating volatile sources of energy.
Wind power developers, who are running against time to put their projects into operation prior to November 2021, now face another problem: they may not get a VAT (value added tax) refund because of certain regulations.
Many wind power projects are being developed at a time when the transmission line has become overloaded. As a result, there could be difficulty selling power.
In Huong Hoa, called the "wind-power metropolis" of Vietnam, one sao (1 sao = 360 square meters) of hilly land is priced at VND4 billion.
The Feed-in-Tariff (FIT) of over VND2,000 per kwh, or 9.35 cent, has encouraged many investors to pour money into solar power. However, they have fallen into a dilemma because of unforeseeable problems.
Gas-fired thermal power is catching the attention of foreign and domestic investors, now that Vietnam plans to stop new coal-fired power projects, according to the eighth national power development plan.
At present, the cost of solar power panels has cooled down, so shortly, the MoIT would suggest the purchasing price of solar power without using feed-in tariffs (FITs).