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Vietnam prepares incentive scheme for solar

Vietnam’s Ministry of Industry and Trade (MOIT) is planning to introduce an incentive scheme for PV power projects, according to law firm Duane Morris LLP citing a draft decision of the country’s Prime Minister Ngujen Tan Dung. If the new scheme will come into force, PV projects will be entitled for investment credit and export credit incentive. Duane Morris said that investors could apply for a loan of up to 70% of the total investment capital of their project with a term of maximum 12 years. Moreover, investors could also enjoy export credit incentives in the form of a loan of up to 85% of the export/ import contract value or L/C value also with a term of maximum 12 years. The country’s energy regulator Electricity of Vietnam (EVN) will purchase the power of the PV projects developed under the scheme through 20-year PPAs. The tariffs will range from 1,800 VND ($0.08) per kWh and 3,500 VND ($0.15) per KWh. The tariff for rooftop PV projects installed under a net-metering mechanism included in the scheme will be of 3,150 VND per kWh. In a separate development, Reuters reported that UK investment firm G.T. & Associates and Marshall & Street Ltd f is proposing to build a $225 million solar power plant in the central province of Quang Nam. The article does not provide more details about the project. © PHOTON

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