The Hanoitimes - Vietnam`s new wind power push is forecast to create an investment wave in the industry as seen in the solar power industry previously, dubbing a landmark for the country’s renewable energy outlook. The government plans to have a wind power output of 2,000 MW by 2025 Prime Minister Nguyen Xuan Phuc has just issued a long-awaited decision approving the mechanism on the development of solar power projects. Under Decision No. 39/2018/QD-TTg, the feed-in tariff (FIT) for wind power of onshore and offshore projects will be adjusted up from 7.8 US cents to VND1,928 (8.5 US cents) and VND2,223 (9.8 US cents) per kWh, respectively. The price is excluding VAT and is adjusted according to the exchange rate between VND and the US dollar. Under the decision, wind power projects that reach their commercial operation date by November 1, 2021, are entitled to the preferential price for a period of 20 years. For other projects that were put into operation before the issue … [Read more...] about Vietnam’s new price policy to boost wind power investments
Wind power
GIZ applauds Vietnam’s higher FIT for wind power
The Hanoitimes - Vietnam is aiming to produce 10.7% of its total electricity through renewable energy by 2030, mainly through solar and wind energy, up from the 6% as previously planned. Germany’s development agency GIZ has praised the Vietnamese government’s decision to increase the feed-in tariff (FIT) for wind power as the country seeks to tap its huge renewable energy potential to accommodate economic growth. Illustrative photo. Source: GIZ On September 10, Prime Minister Nguyen Xuan Phuc approved the amendment and revision of the wind tariff defined as per Decision No. 37/2011/QD-TTg on the support mechanism for the development of wind power projects in Viet Nam. Under the revision, the FIT will be increased from 7.8 to 8.5 US cents/kWh for onshore and 9.8 US cents/kWh for offshore wind power projects. GIZ said it and the Ministry of Industry and Trade (MoIT) worked within the Vietnamese-German bilateral cooperation to develop the wind power sector, including … [Read more...] about GIZ applauds Vietnam’s higher FIT for wind power
New tariffs could recharge Vietnam’s wind power projects
However, even with the latest feed-in-tariff (FIT) increase approved by the Prime Minister, the rates are lower than in other ASEAN countries, they add. The Prime Minister approved the amendment and revision of the wind tariffs as per Decision No. 37/2011/QD-TTg issued on September 10 on support mechanisms for the development of wind power projects in Vietnam. Under the revision, the FIT for wind power projects will be increased to 8.5 US cents/ kWh for onshore and 9.8 US cents/kWh for offshore respectively. “The higher FIT is a significant and especially important signal for all market actors to further invest into the wind power market in Vietnam,” German international development agency GIZ’s Energy Support Programme wrote in a statement sent to VnExpress International. As of now, Vietnam has just 200 MW of installed wind power capacity and another 100 MW is under construction, according to GIZ. Due to Vietnam’s constantly growing need for energy and its … [Read more...] about New tariffs could recharge Vietnam’s wind power projects
Investment policies needed to boost solar, wind power
(VEN) - Given Vietnam’s great renewable energy potential, the country could overcome its future power shortages if it creates suitable mechanisms to encourage relevant investment, especially since wind and solar plants can be built quickly. A specific roadmap should be created to develop renewable energy in the long term In the context of traditional energy resources deteriorating due to limited reserves and growing consumer demand, increasing investment in renewable energy resources is one of the best solutions. Vietnam Energy Association Vice President Nguyen Van Vy believes its abundant natural resources offer Vietnam great potential to develop renewable energy. Specifically, the country has the potential to develop about 30GW of wind power on the mainland and 100GW offshore. Solar panels can be installed in different areas, such as along the coastline, along lakes, in plains, on mountains, and on roofs. Each hectare of solar panels can generate an … [Read more...] about Investment policies needed to boost solar, wind power
Wind power in Vietnam starts getting more foreign investors’ interest
The Hanoitimes - Foreign investors have started showing more interest in Vietnam’s wind power generation market in recent months, however, they suggested the government to raise the power price to make it more reasonable. Tra Vinh Province People’s Committee has recently given the go-ahead to Singapore-based Janakuasa Pte Ltd and Ecotech Vietnam to build the Hiep Thanh Wind Power Plant with a total investment of VND3.37 trillion (US$146 million). The 2,700ha plant has a designed capacity of 78MW from 18-19 turbines. Vietnam targets to have an output of 6,000 MW of wind power by 2030 Earlier, Tra Vinh province also licensed South Korea’s Unison eTech Co Ltd and HCM City-based Asia Energy Petroleum Corporation to develop the first phase of the Duyen Hai wind power project, which will see an investment of VND2.8 trillion (US$125 million) in its first phase with a designed capacity of 48.3MW from 21 turbines. Once operational in December 2019, the project is … [Read more...] about Wind power in Vietnam starts getting more foreign investors’ interest