Approved provisional price for 3,181 MW of renewable electricity, only more than 950 MW is on the grid

Of the 85 transitional renewable energy projects, 79 projects with a total capacity of 4,449.86 MW submitted documents to EVN's Power Trading Company to negotiate electricity prices and power purchase contracts. Of these, 67 projects (total capacity of 3,849.41 MW) proposed a temporary price equal to 50% of the ceiling price of the price range (according to Decision No. 21 of the Ministry of Industry and Trade ).

EVN said that to date, the group of investors has completed price negotiations and signed power purchase agreements (PPAs) with 59/67 projects. Of which, the Ministry of Industry and Trade has also approved provisional prices for 58 projects with a total capacity of 3,181.41 MW.

Phê duyệt giá tạm cho 3.181 MW điện tái tạo, mới có hơn 950 MW lên lưới - Ảnh 1. — Power Plan 8 clearly states that Vietnam's solar power potential is about 963,000 MW.

Thus, the temporarily approved electricity output is currently at a fairly high level, over 3,181 MW, but the official electricity output to the grid so far is recorded to be only 18 projects with over 952 MW.

The cumulative electricity output of transitional renewable energy projects from COD to August 10 reached about 268 million kWh. Of which, the average daily electricity output accounted for about 0.4% of the total mobilized power output.

In addition, the update shows that, of these 85 projects, 22 projects have been accepted by competent state management agencies for the construction/part of the construction; 29 projects have been granted electricity operation licenses for the entire plant/part of the plant; 38 projects have had decisions to extend investment policies.

However, there are still 6 projects with a total capacity of 284.70 MW that have not yet submitted negotiation documents.

Previously, regarding 14 solar power projects that were incorrectly applied preferential FIT prices, the Ministry of Industry and Trade requested EVN to review and propose solutions, in the inspection conclusion No. 1027 of the Government Inspectorate , there was content on advising on the issuance of Decision 13/2020 on the mechanism to encourage the development of solar power in Vietnam.

According to this conclusion, although the subjects to be applied the price of 9.35 cents/kWh stated in Resolution 115 are solar power projects with a designed capacity of 2,000 MW, which have been approved for implementation by the Prime Minister , they are also projects for which the Prime Minister has issued a decision or written approval for planning. However, the Ministry of Industry and Trade has advised in Decision 13/2020, opening the subjects to apply the FIT price to "projects already included in the power development planning at all levels", contrary to the content of Resolution 115 and the Government's conclusion in Notice 402.

This resulted in 14 projects being applied the FIT price of 9.35 cents/kWh to the wrong subjects in Resolution 115. Therefore, from 2020 to June 30, 2022, EVN must pay an increase of about VND 1,481 billion (provisional amount) compared to the payment according to the correct subjects in Resolution 115.

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