With the high price, if meeting the deadline, solar power projects will make significant profits as the power retail price currently averages at only VND1,720.65 per kWh (7.54 US cents). Vietnam’s renewable energy will grow at 23.2 percent annually in 2020-2030 Investment in the country’s solar power industry has boomed following the government’s approval of the FiT of 9.35 US cents per kWh for solar projects last year. The financial and business information corporation Stoxplus said that foreign and local investors are excited about renewable energy in Vietnam, which is expected to grow at 23.2 percent annually during 2020-2030. Stoxplus quoted data from the Vietnam Renewable Energy Report 2018 as saying that an average of nine projects in power generation and distribution were registered every month since June 2017. There are 245 renewable energy projects in Vietnam at the moment, including wind and solar power as well as biomass electricity, which are being deployed at different stages. If all these projects begin operation, the total capacity of the country’s renewable energy should reach 23.2GW, which is nearly 10 times higher than the target of 2.65GW by 2020 as indicated in the Revised National Master Power Plan VII. However, of… Read full this story
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