On 10 April 2025, the Ministry of Industry and Trade (“MOIT”) issued Decision 988/QĐ-BCT, which sets forth the electricity price framework applicable to solar power plants for the year 2025. This framework, issued by the MOIT, ensures transparency and consistency in pricing, serving as the foundation for agreements between power generation units and Electricity of Vietnam (“EVN”).
KEY ELECTRICITY PRICE:
The electricity price framework for 2025, applicable specifically to solar power plants, outlines the maximum allowable tariffs across regions and plant types. Below are the detailed provisions:
1. Ground-Mounted Solar Power Plants (Without Battery Storage Systems):
- Northern Region:Maximum price of 1,382.7 VND/kWh (excluding VAT).
- Central Region:Maximum price of 1,107.1 VND/kWh (excluding VAT).
- Southern Region:Maximum price of 1,012.0 VND/kWh (excluding VAT).
2.Floating Solar Power Plants (Without Battery Storage Systems):
- Northern Region:Maximum price of 1,685.8 VND/kWh (excluding VAT).
- Central Region:Maximum price of 1,336.1 VND/kWh (excluding VAT).
- Southern Region:Maximum price of 1,228.2 VND/kWh (excluding VAT).
3.Ground-Mounted Solar Power Plants (With Battery Storage Systems):
- Northern Region:Maximum price of 1,571.98 VND/kWh (excluding VAT).
- Central Region:Maximum price of 1,257.05 VND/kWh (excluding VAT).
- Southern Region:Maximum price of 1,149.86 VND/kWh (excluding VAT).
4.Floating Solar Power Plants (With Battery Storage Systems):
- Northern Region:Maximum price of 1,876.57 VND/kWh (excluding VAT).
- Central Region:Maximum price of 1,487.18 VND/kWh (excluding VAT).
- Southern Region:Maximum price of 1,367.13 VND/kWh (excluding VAT).
TECHNICAL PARAMETERS FOR BATTERY STORAGE SYSTEMS:
To calculate maximum prices for solar power plants with battery storage systems, the following requirements apply:
- Capacity:At least 10% of the installed capacity of the solar power plant.
- Storage/Discharge Duration: 2 hours.
- Charging Power Output Ratio: 5% of the plant’s total output.
This legal update signals a significant step forward in aligning Vietnam’s renewable energy sector with standardized pricing mechanisms and broader energy policy goals. Power generation units and stakeholders in the energy industry should review these provisions and ensure compliance in their operations.
***
Please do not hesitate to contact Dr. Oliver Massmann under [email protected] if you have any questions on the above. Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.
