Hanoi has set new feed-in tariff rates for utility-scale, rooftop and floating PV projects, ending a long period of policy uncertainty. The government has announced the new rates, which are broadly in line with industry expectations, roughly 10 months after the expiration of its old tariffs.
Following its decision to switch from fixed feed-in tariffs to reverse auction bidding for the setting of solar incentives, the Vietnamese government has decided to devote the first two pilot auctions to floating PV. A first procurement exercise, for a project which could reach 100 MW of generation capacity, will be held this year.
Da Mi has $37 million for a floating solar project it wants to build at its hydropower plant in Binh Thuan province. If built before 2022, the project will be entitled to a feed-in tariff of $0.0769/kWh – provided a draft FIT scheme being considered by the government is passed into law.
Norwegian consultancy Rystad Energy has placed the Australian and Vietnamese solar markets side by side and found the Southeast Asian country left its rival trailing in terms of commissioned utility scale PV capacity. A staggering 4.46 GW of connected PV capacity in Vietnam at the end of June came as a surprise to many.
Although only four PV plants with a combined capacity of 150 MW were grid connected by mid-April, the Vietnamese government expects another 88 FIT-entitled solar facilities to come online by the end of next month. By Sunday, 34 projects with a combined capacity of 2.2 GW had already arrived on top of the mid-April connections.
The World Bank and Electricity of Vietnam (EVN) have installed five solar measurement stations across Vietnam, as part of a campaign to promote the deployment of renewable energy.
Vietnamese conglomerate TTC Group is now seeking investors for 10 to 20 projects, with plans to connect them to the grid by next year, according to recent media reports.
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