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Vietnam fixes ceiling price for solar power and wind power

The Vietnamese government has set the ceiling price for solar power and wind power.

The Ministry of Industry and Trade fixed the ceiling price for solar at VND 1,185-1,508 per kWh and wind at VND1,587-1,816 per kWh as per the type. The ceiling price excludes value-added tax.

According to the ministry, the price will be applied to solar power and wind power projects that are operational after incentivized FIT price policies expired in 2020 and 2021.

It has been informed that the national utility firm Vietnam Electricity (EVN) will use the ceiling price as a base.

The same price will be used for discussion and negotiation with investors in renewable energy projects to buy electricity from their power plants, the statement reads.

Last year, EVN had proposed the prices for both solar and wind. The latest price fixed by the ministry is lower than that proposal.

According to the authorities, operational wind and solar power projects accounted for nearly 27% of the total installed capacity of the whole system by the end of last year. It included 16,545 MW of ground- and roof-mounted solar power and 4,126 MW of wind power.

The electricity utility informed that following the expiry of FIT price, at least five solar power projects waited for new prices, while 62 wind power projects inked electricity sales contracts.


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