Vietnam could keep FITs for 3 GW of accepted massive PV projects

Feb 21, 2020 02:44 PM ET
  • The shift from a feed-in toll plan to a public auction system might take longer than anticipated in the Southeast Asian nation, as the Ministry of Industry and also Trade is taking into consideration preserving FITs of $0.0709/ kWh to $0.0769/ kWh for projects that safeguarded authorization prior to Nov. 23, 2019, if they come online as arranged by the end of this year. According to law practice Lexcomm Vietnam, there are presently 3 GW of projects with licenses.
Vietnam could keep FITs for 3 GW of accepted massive PV projects
Image: Andrei Sulitskiy, flickr

Vietnam's Ministry of Industry and also Trade (MoIT) sent out a record to the federal government on Tuesday in which it suggests keeping feed-in tolls for massive PV projects, as opposed to changing to public auctions, according to law office Lexcomm Vietnam.

The proposition negates the MoIT's very own suggestion in very early December, when it stated that assistance for massive solar needs to be given through purchase workouts from this year-- noting a clear change far from earlier assurances to reboot its FIT plan.

According to Lexcomm, the MOIT is currently advising the federal government to preserve a FIT of $0.0709/ kWh for ground-mounted projects as well as $0.0769/ kWh for floating PV plants, however just for projects that were accepted prior to Nov. 23, 2019, presuming they come online as set up by the end of this year.

The tolls would certainly be granted to 36 projects with an integrated ability of 2.99 GW that are currently accepted for growth, the law practice stated.

Vietnamese media electrical outlets, on the other hand, have actually exposed that the MoIT's proposition is developed to stay clear of a downturn in the large PV sector, which would possibly take place if the federal government quickly took on a public auction system.

The concept of a brand-new public auction device was initially developed to sustain large solar projects that fell short to protect a FIT agreement in 2015. In mid-December, the MOIT asked local federal governments and also state-run utility EVN to put on hold brand-new authorizations for large PV projects under the FIT plan.

Concerning 135 projects with an incorporated ability of 8.93 GW have actually been accepted under the FIT program as well as around 4.5 GW of them had online by the end of June 2019, when the initial stage of the nation's solar aid plan ran out.



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