Solar power capacity is increasing thanks to significant changes in feed-in-tariff. Vietnam’s renewable energy has attracted an increasing number of investors who bet for a higher stake in the market that is one of the world’s most potential destinations for solar and wind power. Da Mi solar project in central Vietnam. Photo: JICA The Southeast Asian country, which possesses more than 3,200 kilometers of coastline and high solar radiation, has been on a way to tap potential by preparing both regulatory framework and investment in transmission network. Given the advantages, Vietnam has issued a number of policies and planning to attract investors and facilitated their investment in the sector that is designed to become a major component in the country’s power mix by 2030 and beyond. Notably, foreign investors can own up to 100% of the equity in renewable projects that include three types namely floating solar PV, ground-mounted solar PV, and rooftop solar PV. Global law firm Norton Rose Fulbright analyzes both advantages and disadvantages in the sector. Role of renewables In March 2016, the government of Vietnam issued the revised National Power Development Plan for 2011-2020 (Power Master Plan VII), in which renewable energy will account for 9.9%… Read full this story
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