According to the draft Decision on incentive price mechanism for solar power after June 30, 2019, just submitted to the Prime Minister by the Ministry of Industry and Trade, the price of this type of energy is proposed to only be in one region.
The grid-connected solar power project has a fixed price of 7.09 cents per kWh, equivalent to 1,620 VND per kWh, with the project having signed a power purchase contract and has been implementing construction before November 23.
Compared to the electricity purchase price applied before June 30, 2019 (general level of 9.35 cents per kWh), the purchase price of grid-connected solar power projects has decreased significantly.
Solar power technology
Electricity price before June 30, 2019 (VND/kWh)
Electricity price after June 30, 2019 (VND/kWh)
Equivalent to cents/kWh
Grid-connected solar power
2,086
1,620
7.09
Floating solar power
2,086
1,758
7.69
Rooftop solar power
2,086
1,916
8.38
Draft Decision on incentive prices for solar power of the Ministry of Industry and Trade.
Particularly for Ninh Thuan province, the purchase price of electricity from grid-connected solar power projects is included in the electricity development planning at all levels and has a commercial operation date before January 1, 2021 with a total capacity of not more than 2,000 MW.
Other solar power projects will determine prices through bidding.
A solar power project in Ninh Thuan province.
Commenting, EVN said that the conditions for projects that have been under construction and have a PPA contract must meet the condition that the investor must have a construction contract before November 22, 2019 for any items in the
Also according to EVN, according to practical experience, not 100% of solar power projects can be completed on schedule due to some unforeseen reasons, so in the case of solar power projects, it is
However, according to the Ministry of Industry and Trade, basic conditions for projects that have been and are being constructed are considered according to the provisions of Decree 59 on construction investment management.
`The addition of projects late after 2020 that continue to enjoy FIT prices may lead to misunderstanding of policy direction,` the Ministry of Industry and Trade assessed.
According to this agency’s statistics, there are 7Â solar power projects eligible for a price of 7.09 cents, with a total capacity of 320 MW.
Appraising the draft, the Ministry of Justice requested the Ministry of Industry and Trade to research and consider an overall review of solar power projects, as well as assess the impact of this decision on Vietnam’s renewable energy development strategy.
Latest statistics from Vietnam Electricity Group (EVN) by the end of December 2019, there were 91 solar power projects put into operation with a total capacity of 4,550 MW.