Bắc Ninh
New decree incentivises renewable, new energy development
The research and development of technology in Vietnam's wind and solar power sectors are being actively encouraged and supported, according to a recently issued government decree.
The decree, which took effect on March 3, outlines several provisions of the Electricity Law regarding the development of renewable and new energy sources.
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It specifies that projects utilising renewable energy sources with integrated energy storage systems, connected to the national electricity grid, will be prioritised for mobilisation during peak electricity demand hours, in accordance with regulations—excluding self-produced and self-consumed electricity.
The Government is prioritising programmes aimed at the research, development, and application of science and technology, as well as the production of solar panels, wind turbines, and power conversion equipment.
Furthermore, new energy projects are eligible for preferential policies and support as outlined in Clause 2, Article 23 of the Electricity Law, provided they meet the following criteria: The project must generate energy from 100% green hydrogen, 100% green ammonia, or a 100% mixture of green hydrogen and green ammonia; the project must supply electricity to the national power grid; and the project must be the first of its kind within each new energy category.
Incentives for such projects include exemption from maritime area use fees during the infrastructure construction period (up to three years from the start of construction) and a 50% reduction in these fees for the subsequent nine years.
Additionally, the projects are exempt from land use and land lease fees during the infrastructure construction period, also not exceeding three years from the start of construction.
After the exemption period, the reduction or exemption will be carried out in line with relevant investment and land regulations.
Prime Minister Pham Minh Chinh has laid stress on the critical need for innovative power projects that are able to transform the nation’s energy landscape and prevent power shortages while addressing at a hybrid conference to review the investment and construction of the 500kVcircuit-3 power transmission line linking Quang Trach in the central province of Quang Binh and Pho Noi in the northern province of Hung Yen on December 8.
In a move that signals a new era for renewable energy in Vietnam, CME Solar Investments (CME) and Vista Global — an investment vehicle of Samsung C&T — have signed a landmark agreement to accelerate the development of C&I rooftop solar energy across the country.
Aware of the demand for green energy, industrial parks have retrofitted rooftop solar power systems to increase competitiveness and attract investors.
Vietnam and Australia will prioritise coordination in implementing the Comprehensive Strategic Partnership, including the newly established ministerial-level dialogue mechanisms on trade, energy and minerals to create a favourable environment for their businesses.
Vietnam wants to deepen the traditional reliable relations and strategic partnership with France, particularly the French Development Agency (AFD), said Deputy Prime Minister Tran Hong Ha while receiving AFD Deputy Director General Marie-Hélène Loison in Hanoi.
In Decision No 262/QD-TTg dated April 1, 2024, the Prime Minister approved the implementation plan for the National Power Development Master Plan in the 2021-2030 period with a vision to 2050.
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