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VIETNAM – SOLAR POWER FEED IN TARIFFS BREAKING NEWS – FINAL DRAFT DECISION ON SOLAR POWER FEED-IN-TARIFFS FOR THE PERIOD FROM 1 JULY 2019 TO 31 DECEMBER 2021

Dr. Oliver Massmann by Dr. Oliver Massmann
March 23, 2023
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INVESTING IN VIETNAM SOLAR POWER MARKET – Latest updates
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On 19 September 2019, the Ministry of Industry and Trade of Vietnam (“MOIT”) submitted to the Government the final draft decision of the Prime Minister on the mechanism for encouraging the development of solar power projects in Vietnam from 1 July 2019 to 31 December 2021 (“FIT2”).  It is expected that the new solar FiT2 decision will be issued soon this month.

Notably, the final FiT2 draft aims mostly at encouraging solar power project development in southern area as the MOIT estimated an addition capacity of approx. 6-8 GW need to be realized to satisfy major power demand of this area up to 2021.

New FITs for Solar Power Projects – from 1 July 2019 to 31 December 2021  

Compared to the previous drafts, the final FIT2 draft does not determine FiT prices based on regions but only on technology types.  The final FIT2 draft classified solar power projects into three groups as follows:

  • Ground-mounted solar energy project: VND 1,620/kWh (USD 7.09 cent/kWh);
  • Floating solar energy project: VND 1,758/kWh (USD 7.69 cent/kWh)
  • Rooftop solar energy project: VND 2,156/kWh (USD 9.35 cent/kWh)

The above FIT2 price shall be applied for solar power projects reaching COD within the period from 1 July 2019 to 31 December 2021 and applied for 20 years from the COD date.

For Ninh Thuan province, solar power projects that reach COD before 1 January 2021 (within the capacity of 2,000 MW as already approved by the Government) still enjoy the FIT price of 9.35 cent/kWh.

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Please do not hesitate to contact Dr. Oliver Massmann under [email protected] if you have any questions or want to know more details on the above. Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.

 

 

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Dr. Oliver Massmann is an International Attorney at Law and a Financial Accountant and Auditor.

Dr. Massmann received his PhD with Major in International Business Law.

Dr. Massmann has over 20 years experience working as commercial lawyer in Vietnam. Dr. Massmann is fluent in Vietnamese language, negotiation and presentation level.

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