The Vietnamese Government has introduced a new electricity decree, as an extension of the country’s 2024 “New Electricity Law”, to accelerate the development of renewable energy projects in Vietnam, offering fee exemptions and prioritising wind and solar power expansion.
The decree focuses on large-scale offshore wind and solar projects, as well as energy storage systems. It establishes incentives for projects utilising 100% green hydrogen and green ammonia for power generation. Maritime projects are set receive a three-year exemption from maritime area use fees, followed by a 50% reduction for the next nine years. Land-based projects will be exempted from land use and lease fees for three years, with fees afterward determined by investment and land use regulations.
Projects transmitting renewable energy to the national grid will receive priority, particularly during peak electricity demand periods. In addition, authorities will expedite approvals for research and development initiatives related to solar panels, wind turbines, and power conversion equipment.
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