Latest News about wind power
Vietnam, a global phenomenon in renewable energy development, has risen to the top of the region in terms of renewable energy, particularly solar power, in a short period of time.
Wind and solar power are sustainable energy sources that are prioritized for development.
Reducing the cost of capital for offshore wind power projects in Vietnam will be the main driver for lowering electricity costs and encouraging investment in such projects,
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.
Sharing the same fate as solar power, sales of wind power in Vietnam are expected to be difficult because of "severe excess electricity" at some point in time.
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.
Investors from the UK were showing significant interest in investing in renewable energy projects in Vietnam, especially wind power,
Many wind and solar power projects are awaiting approval to be added to the list of projects to be developed under the national power development plan.
According to experts, the dominant energy technology in the future will be energy storage devices, solar panels, clean hydrogen and wind energy.
Steep reduction of feed-in-tariff (FIT) is believed to derail investment in new and planned wind projects in Vietnam.
The Ministry of Industry and Trade (MOIT) has proposed continuing the FIT (feed in tariff) for wind power, but lowering the tariff by 20 percent, causing concern among wind power developers.
Across the first half of 2020, the government approved an additional 91 wind energy projects, onshore and offshore, with a total capacity of over 7GW.
Input costs for both solar and wind power in Vietnam fell respective 75% and 30% in 2012-2017.
Following a proposal by 10 provinces, the Ministry of Investment and Trade (MOIT) wants to extend the deadline for FIT (Feed in Tariff) application because many wind power projects cannot become operational prior to the given date.
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Work on construction of the Dong Hai 1 wind power plant, second phase, began in Long Dien Dong commune, Dong Hai district of the Mekong Delta province of Bac Lieu on October 10.