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Vietnam will extend FiTs for wind projects until December 2023

15 Jun 2020

The Prime Minister of Vietnam has approved the extension of the feed-in tariffs (FiTs) for wind power projects. The FiTs applied to wind projects that are scheduled to enter commercial operations before November 2021 will be extended until the end of December 2023. In September 2018, the Vietnamese government set the 20-year feed-in-tariff (FiT) at US$8.5c/kWh for onshore wind power projects and at US$9.8c/kWh for offshore wind projects commissioned before 1 November 2021. An auction system is under consideration to replace FiTs after 2023.

In April 2020, the government of Vietnam unveiled new feed-in tariff rates for utility-scale, rooftop and floating solar PV projects. The new text determines FiT prices based on three technology types: ground-mounted solar energy projects will receive VND1,644/kWh (US$7.09c/kWh), floating solar energy projects VND1,783/kWh (US$7.69c/kWh) and rooftop solar energy projects VND1,943/kWh (US$8.38c/kWh). Those tariffs will concern solar projects reaching commercial operations date (COD) within the period from 1 July 2019 to 31 December 2020 and will apply for 20 years from the commissioning date. All other projects will be subject to price determination through a tender process.

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