The Hanoitimes – The Ministry of Industry and Trade is studying to issue new policies on the wind power development to make it more attractive as the current low feed-in-tariff (FIT) regulation is hindering investors from pouring capital into this industry. The government has targeted to develop wind power so that the country can have an output of 800 MW of wind power by 2020, 2,000 MW by 2025 and 6,000 MW by 2030. However, experts said that it will be very hard for the government to meet the target as the current FIT of 7.8 US cents per kWh applied for wind energy is too low to attract private investment in the industry. Thuan Binh Wind Power JSC, which started the operation of the first phase of its Phu Lac wind farm in 2016 with a capacity of 30MW, said that with the current FIT, it will take the company 14 years to recover their investment of VND1.1 trillion (US$48.3 million). With some 3,000 km of coastline, Vietnam has great potential to develop wind power At only 7.8 US cents per kWh, the regulated selling price of wind power in Vietnam is among the lowest in the world…. Read full this story
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