New prices set for transitional solar and wind projects

A new framework for electricity prices of transitional solar and wind power projects has been set

Accordingly, the ceiling price (the highest price) of the electricity generation price bracket (excluding value-added tax) applied to ground solar power plant is VND1,184.90/kWh, and floating solar power plant is VND1,508.27/kWh.

The ceiling price applied for the inland wind power plant is VND1,587.12/kWh, sea wind power plant is VND1,815.95/kWh.

Based on this electricity price framework, EVN and the transitional solar and wind power generators specified in Circular No.15/2022/TT-BCT that they will discuss the official electricity prices.

According to the Ministry of Industry and Trade (MoIT), there are still many projects/parts of wind and solar power projects that are being constructed. However, these projects missed the chance to enjoy the feed-in tariff (FIT) mechanism, which expired on November 1, 2021.

Notably, 62 wind power projects with a total capacity of 3,479 MW signed a power purchase agreement with EVN, but they have yet to have an electricity-selling price due to the expiry of FIT. In addition, 452MW has been built and installed, but the selling price has not been determined.

On October 3, 2022, the MoIT issued Circular No.15 stipulating the method of building a price frame for transitional solar and wind power projects, effective from November 25, 2022.

In late November, EVN sent a document to the MoIT and the Electricity Regulatory Authority on establishing a framework for electricity prices of transitional solar and wind power projects.

In the document, EVN reported that up to November 16, 2022, EVN received feedback from 208 renewable energy power projects, including 99 solar power projects with four floating and 95 land solar power projects and 109 wind power projects (WPPs). Among them, 147 solar power projects and 146 wind power projects have Power Purchase Agreements with EVN.

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