State-owned Electricity of Vietnam (EVN) has been accelerating the completion of 61 solar power projects so that by the end of June 2019, a total of 88 solar power projects can be connected to the national grid.
As of April 23, 2019, only four solar power projects in Vietnam had started commercial operation, the number rose to 27 by May 17, 2019, a release by EVN has said.
The additional 61 solar power projects to be commissioned in June are expected to generate a total capacity of 2,000 MW.
With 88 solar power projects added to the national grid, the total energy generated from renewable (wind and solar) power projects in the country will be about 4,000 MW, the release added.
After a recent decision taken by the country’s Prime Minister, the projects connected to the national grid between June 1, 2017, and June 30, 2019, will be eligible to sell electricity to EVN at VNĐ 2,086 ($0.093)/kWh.
Renewable energy power projects are located mainly in the southern and south-central region of Vietnam. Renewable energy is helping EVN to reduce the pressure of supplying power to the southern region, a major economic hub of the country.
Mercom reported earlier about Thailand’s B. Grimm Power signing a power purchase agreement with Electricity of Vietnam for solar projects totaling 257 MW in Phu Yen province of the country.
The PPA was for a feed-in tariff (FiT) of $0.0935 (~₹6.938)/kWh, with a duration of 20 years. The scheduled commercial operation date of the project is expected to be before June 30, 2019.
In July 2018, B.Grimm Power and Vietnam’s Xuan Cau had signed a development cooperation agreement for the 420 MW solar PV project located in Tay Ninh, south-west of Vietnam.
Vietnam has become an important destination for investment in renewable energy for companies seeking new markets.
Soumik is a staff reporter at Mercom India. Prior to joining Mercom, Soumik was a correspondent for UNI, New Delhi covering the Northeast region for seven years. He has also worked as an Asia Correspondent for Washington DC-based Hundred Reporters. He has contributed as a freelancer to several national and international digital publications with a focus on data-based investigative stories on environmental corruption, hydro power projects, energy transition and the circular economy. Soumik is an Economics graduate from Scottish Church College, Calcutta University.