Specifically, according to Decision 21/QD-BCT of the Ministry of Industry and Trade, the ceiling price of the electricity generation price bracket (excluding value added tax) applied to terrestrial solar power plants is 1,184.90 VND. /kWh, floating solar power is 1,508.27 VND/kWh.
The ceiling price applied for inland wind power is 1,587.12 VND/kWh, sea wind power is 1,815.95 VND/kWh.
Thus, after a long wait, the transitional solar and wind power projects have had new prices. Because Decision 13 on the incentive mechanism (FIT price) of solar power has expired from December 31, 2020. Decision 39 on the FIT price for wind power also expires from October 31, 2021.
The new price bracket is built on the basis of Circular No. 15 of the Ministry of Industry and Trade. In which, it stipulates the method of building the price bracket for electricity generation of solar power plants and transitional wind power plants. The promulgation of this price bracket is the basis for the Electricity of Vietnam (EVN) and other solar and wind power generators to implement.
Previously, Electricity of Vietnam (EVN) also submitted a report to the Ministry of Industry and Trade on reviewing the electricity generation price bracket for this project. EVN offers four options to calculate the price bracket. Includes calculation based on investment rate, loan rate, interest rate and taxes. Or options that do not include investment rate, power output, etc. However, the proposed price by EVN is higher than the one approved by the Ministry of Industry and Trade.
Image of Viettel Construction technical staff at a solar power project
Right at the beginning of March 2023, the Ministry of Industry and Trade has just issued official dispatch 094/BCT-DTDL to the Electricity of Vietnam (EVN) to direct EVN to urgently coordinate with investors of solar and power plants. wind forward agreement, unifying electricity price.
The Ministry of Industry and Trade makes three requirements in the principle of determining electricity generation prices. That is, must comply with the provisions in Clause 1, Article 29 of the Electricity Law on electricity price policy; in which, the Ministry of Industry and Trade emphasized, it is necessary to create conditions for all economic sectors to invest in electricity development with reasonable profits. Citing the provisions of Clause 4, Article 29 of the Electricity Law, the Ministry of Industry and Trade requires "Ensure the right to self-determination of electricity purchase and sale prices within the price bracket and structure of the electricity retail price schedule prescribed by the State of the subjects who are subject to the provisions of this Law. buying and selling electricity on the electricity market".
Another principle is "The electricity generation price according to the definite-term electricity purchase and sale contract, the wholesale electricity price agreed upon by the electricity units but must not exceed the electricity generation price bracket, the electricity wholesale price bracket approved by the Government. ", as prescribed in Clause 3, Article 31 of the Electricity Law.
Regarding the power purchase and sale contract, the Ministry of Industry and Trade stated that the investor and EVN negotiate and amend on the basis of the signed power purchase and sale contract and the contents specified in Circular No. 01 (January 19, 2020). 2023) abolishing a number of regulations in Circular 02 (January 15, 2019) and Circular No. 18 of the Minister of Industry and Trade…
Foreign enterprises rush to invest in wind power projects in Vietnam
On February 10, in Singapore, a Memorandum of Understanding was signed between Becamex IDC Industrial Development and Investment Corporation (Vietnam) and Sembcorp (Singapore) to cooperate in the formation and development of 5 industrial parks according to regulations. green, smart and sustainable direction in Vietnam. The total investment capital to develop these 5 industrial parks is approximately 1 billion USD.
Also on this day, Sembcorp signed a joint development cooperation agreement with Vietnam Petroleum Technical Services Corporation (PTSC) in developing an offshore wind power project for export to Singapore.
In early 2022, Sembcorp signed a Memorandum of Understanding with KN Energy Group on developing renewable energy projects in Vietnam, including a 500MWp floating solar power project in Gia Lai province.
On December 9, 2021, Sembcorp signed a cooperation contract with BCG Energy (a member company of Bamboo Capital Group - BCG) to develop renewable energy projects in Vietnam.
Sembcorp has invested in Vietnam through many legal entities such as: Phu My 3 Power Company; Sembcorp Energy Vietnam and Sembcorp Solar Vietnam…
China is aiming to be the world leader in renewable energy through wind farm projects
Recently, Three Gorges Group (CTG), in cooperation with Science and Technology Company Goldwind Technology announced that it will start construction of China's first large-scale offshore wind farm. It is expected that the farm will use turbines with a capacity of 16 MW. Currently, other offshore wind farms in the country of billions of people only use wind turbines with a capacity of less than 10 MW (1.6 times lower than the new machine).
This will be a breakthrough in wind turbine research and production, making it world-class. The giant offshore machine will have propellers that can create a circle with a diameter of 252 meters, which when rotated will sweep over an area of 50,000 square meters, equivalent to seven standard football fields.
With a capacity of up to 400 MW, this is the only clean electric machine with an electric capacity of this level
In the "Made in China 2025" industrial modernization plan, China considers renewable energy a central goal, aiming to make China a world leader in this field.
In 2023, electricity storage demand in China is predicted to grow by nearly 50%, to 30 gigawatt hours (GWh). According to data from information provider Windmango, the country also completed 446 wind power projects with a total capacity of 87 GW last year, up from 60 GW in 2021.
Source: CafeF and synthesis.