The feed-in tariff (FIT) for offshore wind power currently stands at 9.8 cents per kilowatt-hour. The FIT for land plants is 8.5 cents. However, these are only applicable to plants that begin commercial operation before November 1, and for a period of 20 years.

A solar power farm in the southern province of Tay Ninh.

From November 1, the price mechanism is set to change, with a spokesperson from the Electricity and Renewable Energy Authority saying the agency is creating a bidding mechanism for solar and wind power to replace FIT.

FIT is a policy mechanism that offers cost-based compensation to renewable energy producers, providing price certainty and long-term contracts, which help attract finance.

There are 21 operational wind power plants with a combined capacity of 819 MW, according to national utility Vietnam Electricity (EVN).

The country aims to produce 10.7 percent of its electricity from renewables by 2030, mainly solar and wind power.

The Vietnam Energy Association wants the wind power generation capacity to be increased sevenfold from the Ministry of Industry and Trade’s current proposal of 2-3 GW in the country’s energy development plans for the next decade. This translates into a capacity of 15-20 GW.

Power sufficiently supplied to Hoa Phu industrial park

(BGO) – Hoa Phu industrial park (IP) covers more than 207 ha with total investment of 1,933 billion VND (83.4 million USD) by Hoa Phu Invest Company Limited. It is executed in the communes of Mai Dinh, Chau Minh and Huong Lam (Hiep Hoa district, Bac Giang province). 

Nghi Son 2 Thermal Power Plant connected with national electricty grid

The first phase of a 500kV transmission line project connecting the Nghi Son 2 Thermal Power Plant with the national electricity grid was put into operation on March 26.

First solar power plant in Mekong Delta inaugurated

Halcom Vietnam JSC and Japanese company Shizen Energy inaugurated Hau Giang solar power plant in Hoa An commune, Phung Hiep district, in the Mekong Delta province of Hau Giang on March 12.

Bac Giang works to ensure power supply for industrial development

(BGO) - Over the past years, Bac Giang has always seen a high growth rate of commercial electricity in the industry and construction sector. With the building and expansion of a series of industrial zones and clusters in the time to come, ensuring power supply poses many urgent tasks.

Vietnam moves up three places in Global Soft Power Index

Vietnam moved up three places from 50th to 47th in the Global Soft Power Index 2021, which ranks the world’s top 60 soft power nations, according to the Brand Finance Global Soft Power Index Report.

Source: VnExpress