Description

That is the statement of Hoàng Tiến Dũng, head of the Electricity and Renewable Energy Authority under the Ministry of Industry and Trade (MoIT) at a regular ministry press briefing.

The feed-in-tariff (FIT) incentive price policy aims to promote investment in renewable energy technologies by offering long-term contracts to renewable energy producers. The incentive price for offshore and onshore wind power generation is 9.8 cents and 8.5 cents per kilowatt-hour, respectively. The application is for 20 years for plants that start commercial generation before 1st November 2021. However, for new wind power projects constructed after 31st October 2021, the prices will be established via a bidding mechanism. The FIT incentive will not be applied for the plants which are under construction and cannot start commercial generation before 1st November due to the impact of COVID-19, instead, a transition process will be considered.

Source & further information: “No incentive price extension for wind power plants: ministry” at https://e.vnexpress.net and “Điện gió dừng giá FIT, chuyển sang đấu thầu sau 31/10” at https://vnexpress.net , accessed on 4 October 2021.