Vietnam solar power plant overview
Decision No. 11/2017/QD-TTg for development of solar power in Vietnam (“Decision 11”) introduced by Prime Minister Nguyen Xuan Phuc on 11 April 2017. The Decision outlines a range of incentives to boost the renewable energy sector in the country.
Feed-in-tariff rate (FIT) for solar power: Vietnam Electricity Group (EVN), ecision No. 11/2017/QD-TTg designated as the sole Power Purchaser, will purchase all electricity generated from solar power projects with a feed-in tariff (“FIT”) of VND 2,086/kWh excluding value added tax, equivalent to approximately 9.35 US cents/kWh at current exchange rates. The FIT applies only to grid-connected projects standard power purchase agreement (PPA) is expected to provide a 20-year term for solar projects, commencing from commercial operation.