Vaibhav Saxena This decision is intended to be approved and take effect from July 1, 2019 replacing the current Decision 11 of the prime minister which took effect on June 1, 2017. Vaibhav Saxena, lawyer at Vietnam International Law Firm, gives deep analysis into its possible impacts on the market. Feed-in-Tariff (FiT) and foreign exchange rate Currently, Decision 11 provides for the FiT of 9.35 US cents per kWh for the solar power projects that achieve commercial operation date (COD) by June 30, 2019. In case of Ninh Thuan province only, under Resolution 115 of the government dated August 31, 2018, the solar power projects with design capacity of 2,000MW approved by the prime minister and COD by the end of 2020 are also entitled to the above FiT of 9.35 US cent per kWh (exclusive of VAT and following the central VND/USD exchange rate of Vietnam announced by the State Bank of Vietnam on 10 April 2017, i.e, VND 22,316 = 1 USD). The FiT shall not remain the same and shall be adjusted to fluctuations of the central VND/USD exchange rate. FiT are calculated in US cents per kWh and the applicable FiT rate shall be the central… Read full this story
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