As Vietnam’s economy grows, domestic demand of electricity continues to increase. Currently, the main energy sources of Vietnam are coal and hydropower. Due to growing domestic energy consumption, the Vietnamese government has sought to develop and produce electricity from renewable energy sources, targeting 10% renewables by 2030.
Current status of wind based power development in Vietnam
1. Electricity Tariff: From 10 Sept,2018.Under the revision, the FIT for wind power projects will be increased to 8.5 US cents/ kWh for onshore and 9.8 US cents/kWh for offshore/nearshore respectively, which will make the investors and developers turn back and the distressed deals may be feasible again.
2. PPA: Based on sample PPA.
3. There have been 17 projects signed PPA with EVN with total installed capacity of 834.2MW and around 195.2MW in commercial operation.
4. In 2018-2020: 4 projects(138MW) will be in commercial operation: Tay Nguyen (28.8MW),Mui Dinh (37.6MW),Trung Nam (39.95)MW, Dam Nai 2 (31.5MW).