Vietnam’s trade ministry heeds calls to extend wind power tariff policy, submits proposal to government

A wind turbine in Vietnam. Image: Neil Phan via Pexels Vietnam’s Ministry of Industry and Trade (MOIT) on Friday proposed to the country’s central government to extend the deadline for its feed-in tariff scheme by two years, from the original cut-off date in November 2021 to the end of 2023, according to a source close to the Vietnamese government. MOIT suggested that a new, lower feed-in tariff—a fixed rate paid to generators for wind energy they produce and export to the national power grid—be implemented for projects that become commercially operational after November next year. Details on how high the new rate would be have not been disclosed. After the new scheme ends in three years, the ministry proposed shifting from fixed renewable energy rates to an auction programme, reflecting a global trend towards a competitive selection of developers amid rapidly falling prices of clean energy equipment. An auction scheme would enable Hanoi to select the most price-competitive wind power firms for specific renewable energy projects. If signed, the new policy would mean more than 4 gigawatts (GW) worth of wind energy projects—that’s nine times Vietnam’s installed onshore and offshore capacity of 490 MW in 2019—currently waiting for government […]

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