Decision paves way for solar power development

vietnamnews

Update: April, 18/2017 – 15:00

The solar power factory in Côn Đảo Island in Bà Rịa-Vũng Tàu Province. — VNA/VNS Photo Ngọc Hà

Viet Nam News HÀ NỘI — Opportunities to invest in Việt Nam’s solar energy sector are abundant after Prime Minister Nguyễn Xuân Phúc issued a decision to encourage the development of solar power projects.

Under Decision 11/2017/QĐ-TTg, which takes effective from June 1, 2017, all output produced by solar power projects will be purchased for VNĐ2,086 (US 9.3 cent)/kWh (excluding VAT) – a profitable rate for investors.

The price will be adjusted in line with the VNĐ/USD exchange rate, and only applied to power grid-connected projects with the cell efficiency above 16 per cent or productivity module over 15 per cent.

Investors involved in solar power projects in Việt Nam will be eligible for various incentives, especially support related to land, investment capital and import and corporate income tax.

The decision aims to draw finances to the field, with many investors interested in the industry.

In March, the Central Highlands province of Đắk Lắk granted investment certificates and signed agreements with partners to develop a series of solar power projects with total investment of $3.3 billion.

The US power group AES signed a memorandum of understanding with provincial authorities to construct a $750-million-solar power plant with combined capacity of 300-500 MW.

Also, Xuân Thiên Đắk Lắk Ltd, Solar Park Global of the Republic of Korea (RoK) and Long Thanh Infrastructure Investment received approval to implement projects with respective worth of $2.2 billion, $45 million and $308 million.

Meanwhile, the RoK’s electricity developer Solkiss signed an agreement with the northern province of Yên Bái to build a 500MW-solar electricity project worth more than $1 billion in Thác Bà Lake.

Many more domestic and foreign investors have been pouring their money into solar energy projects in the central provinces of Bình Định, Khánh Hòa, Ninh Thuận, Thừa Thiên – Huế, Hà Tĩnh, Quãng Ngãi, and the Mekong Delta province of Sóc Trăng.

However, the number and value of projects invested by foreign firms in the field remains limited.

The Foreign Investment Agency under the Ministry of Planning and Investment said that only 16 foreign-invested green energy projects were operating in Việt Nam as of the end of 2016, with total registered capital of $778 million and only 18 per cent of them invest in solar power.

The decision is expected to pave the way for investors, especially foreign investors, to expand their operation in the power industry. — VNS

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This entry was posted in Năng lượng, Năng lượng mặt trời and tagged , , by Trần Đình Hoành. Bookmark the permalink.

About Trần Đình Hoành

I am an attorney in the Washington DC area, with a Doctor of Law in the US, attended the master program at the National School of Administration of Việt Nam, and graduated from Sài Gòn University Law School. I aso studied philosophy at the School of Letters in Sài Gòn. I have worked as an anti-trust attorney for Federal Trade Commission and a litigator for a fortune-100 telecom company in Washington DC. I have taught law courses for legal professionals in Việt Nam and still counsel VN government agencies on legal matters. I have founded and managed businesses for me and my family, both law and non-law. I have published many articles on national newspapers and radio stations in Việt Nam. In 1989 I was one of the founding members of US-VN Trade Council, working to re-establish US-VN relationship. Since the early 90's, I have established and managed VNFORUM and VNBIZ forum on VN-related matters; these forums are the subject of a PhD thesis by Dr. Caroline Valverde at UC-Berkeley and her book Transnationalizing Viet Nam. I translate poetry and my translation of "A Request at Đồng Lộc Cemetery" is now engraved on a stone memorial at Đồng Lộc National Shrine in VN. I study and teach the Bible and Buddhism. In 2009 I founded and still manage dotchuoinon.com on positive thinking and two other blogs on Buddhism. In 2015 a group of friends and I founded website CVD - Conversations on Vietnam Development (cvdvn.net). I study the art of leadership with many friends who are religious, business and government leaders from many countries. In October 2011 Phu Nu Publishing House in Hanoi published my book "Positive Thinking to Change Your Life", in Vietnamese (TƯ DUY TÍCH CỰC Thay Đổi Cuộc Sống). In December 2013 Phu Nu Publishing House published my book "10 Core Values for Success". I practice Jiu Jitsu and Tai Chi for health, and play guitar as a hobby, usually accompanying my wife Trần Lê Túy Phượng, aka singer Linh Phượng.

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