The Ministry of Industry and Trade (MOIT) has proposed continuing the FIT (feed in tariff) for wind power, but lowering the tariff by 20 percent, causing concern among wind power developers. The current FIT applied to wind power stipulated in Decision 39 will expire on November 1, 2021. MOIT has proposed extending it until the end of 2023. However, the tariffs proposed by MOIT as suggested by German consultants for the period after November 1, 2021 would be much lower than the current The FIT for onshore wind power projects from November 2021 to December 2022 would be 7.02 US cents per kwh, and the price would be 6.81 cents per kwh for projects starting operations in 2023. As for offshore projects, the prices would be 8.47 cents per kwh and 8.21 cent, respectively. Meanwhile, under Decision 39/2018, the tariffs are VND1,927 per kwh, or 8.5 cents for onshore, and VND2,223, or 9.8 cents, for offshore projects. The sharp fall in electricity prices has worried wind power investors. An investor said wind power is a risky investment field. The projects with good wind sources have already been developed, while projects in the next period may not have such good wind… Read full this story
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