Vietnam, the hottest destination for solar power investment in Asia Pacific, got more than 3GW solar projects have been installed after its first round of FiT mechanism put into effect, with more than 1GW solar power installation for yearly growth.
To further enhance the renewable energy sustainable development in Vietnam, the Ministry of Industry and Trade of Vietnam (MOIT) released an updated draft (the New Draft) of the Decision of the Prime Minister on the mechanism for encouraging the development of solar power projects in Vietnam (the Draft Decision). Given that the current Decision 11 of the Prime Minister providing for the FiT of 9.35 US cents/kWh is in effect only until 30 June 2019, the Draft Decision would provide for a new FiT program for an additional 2 years from 1 July 2019 through 30 June 2021, for solar power projects in Vietnam. The decision proposes different levels of tariffs, classified by four irradiation regions of Vietnam and involving four different solar power technologies, which also indicates the government’s policy to diversify solar investments in different regions of Vietnam.
Despite the challenges ahead, we witness the market quickly become the main focus of the key solar power stakeholders in the world and will continue attracting the investors, developers, OEMs, contractors rushing into the market.
To further push forward the solar power development in Vietnam and facilitate the collaboration between local and international, Neoventure Corporation is planning the seventh RE series event in Vietnam – Vietnam Solar Power Expo 2019, which will be scheduled on National Convention Center on 25-26 September, 2019, the event will combine with Large Exhibition, Conference, Onsite Technical Seminar, Project Match-Making Forum creating a one-stop business matching platform for all industry players to share their knowledge and to expand business contacts in Vietnam’s rapid growing solar energy sector.
With Neoventure’s deep digging in Vietnam’s RE sector, Vietnam Solar Power Expo 2019 will provide you the most qualified participants in the region, the visitors of the expo will cover 95% of the local developer and investor in this market with real decision power in hand.
We do look forward to seeing you in Hanoi this September!