Vietnam Introduces Solar FIT Scheme in Support of Solar Energy

Solar FIT Vietnam
Ha Long Bay in Vietnam. A UNESCO World Heritage Site.

Vietnam is supporting the development of solar power and has introduced a solar FIT scheme for solar power plants to allow growth in renewables. Accordingly, owners of grid-connected PV power plants will be granted a FIT at UScents 9.35/kWh, excluding VAT. All solar power producers will also be exempted from paying tax on importing goods for their fixed assets.

Clean Energy (mainly wind and solar) is the only power resource in Vietnam where the investment costs are falling and if the energy market is opened up to private investment, new power generation can be delivered faster and at 30% less than the capital cost of power assets built by EVN in recent years. The next step is for the Government to address critical issues (curtailment, termination, and arbitration) in the existing draft Solar Power Purchase Agreement (PPA) to attract investment to this sector” said Mr. Gavin Smith, Director of Dragon Capital Group.

Considering the introduction of Solar FIT, Vietnam has initially made a new move towards the country’s sustainable energy to transform and develop. Contributing to that transformation, the 3rd edition of Vietnam’s Leading Renewable Energy and Energy Efficiency Exhibition — RE & EE Vietnam 2017 will set to gather innovative technologies and solutions in solar power, wind power, thermal power, hydro power, and biomass industries as well as some equipment in the field of energy efficiency. Organised by UBM Asia, the Exhibition will be held in Ho Chi Minh City from 8 to 10 November this year.

According to the organiser, the exhibition 2017 will showcase some pavilions, including Mainland China, EU, GermanyTaiwan and the UK. They will bring together some companies, such as Main Energy, Continental Industrie and Gate to Asia. They all make RE & EE Vietnam 2017 a one-stop platform for energy industry fellows.

Ms. Adina Tauyatswala, Deputy Director of EU-Vietnam Business Network (EVBN), one of the partners of RE & EE Vietnam shares, “the enterprises are joining our European pavilion to find professional and experienced distributors for their products. Others are looking to build connections regarding big energy infrastructure projects such as solar parks, wind parks and others. And other enterprises are interested in research and development partnerships with Vietnamese research institutes and companies. Our mission is to support them in finding the right partners, mainly through high-quality and fruitful B2B meetings. RE & EE Vietnam gives us the perfect platform to fulfil this mission.”

In line with the exhibition, a series of technical seminars and conferences will take place during the three-day event, with many interesting subjects related to the experience of operating and managing the recent renewable energy projects and the updates of new policies and incentives in Vietnam.

 

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