Published: 16 April 2020 16 April 2020
Vietnam’s Ministry of Industry and Trade (MOIT) filed a report to the Prime Minister’s office proposing an extension for the wind Feed-in Tariff (FiT) that was set to expire in November 2021.
The key points of MOIT’s extension recommendation include:
- Extend the period of the fixed Feed-in Tariff for wind power projects in Decision 39 to 31 December 2023.
- Assign MOIT to propose to the Prime Minister a new Feed-in Tariff for wind power projects having commercial operation date from 1 November 2021 until the end of 31 December, 2023.
- After 2023, wind power projects will be awarded through an auctioning mechanism.
The report cited several reasons for FiT extension, such as power shortages due to the delayed installation of some of the natural gas and coal projects, planning law impacts, the long construction timeline of wind projects, as well as the COVID-19 impact on the wind industry.