Vietnam Sets Price Caps on Wind and Solar Electricity Projects
On January 7, the Vietnam Ministry of Industry and Trade (MOIT) introduced new ceiling prices for solar and wind energy in Vietnam. The ceiling prices are a response to Circular 15/2022/TT-BCT released in October 2022, which serves as the framework for Vietnam Electricity (EVN) to enter into tariff negotiations with developers of solar and wind energy projects. MOIT’s ceiling prices have been set to US$5.05 cents (VND1,184.90) per kWh for ground-mounted solar projects, US$6.43 cents (VND1,508.27) for floating solar projects, US$6.77 cents (VND1,587.12) for onshore wind projects, and US$7.75 cents (VND1,815.95) for offshore wind projects. EVN intends to use the new ceiling prices to negotiate tariffs for transitional projects in solar and wind that do not yet have tariffs in place.