MOIT proposes increase of wind power prices

This proposal is expected to have a positive impact on domestic wind projects. Specifically, the price of wind power at sea approved by the Government will increase from 9.8 cents to 9.95 cents and the purchase price of wind power on the coast was also raised from 7.8 cents to 8.77 cents/kWh.

The Ministry of Industry and Trade said that the increase will not significantly affect the production costs of the power industry. In addition, this new price will remove difficulties for investors. In particular, investors can regain their investment capital after 1-2 years or more. At present, total capacity of wind power projects in Vietnam is just above 159 MW. This figure is expected to increase to 456 MW by 2018 and 800 MW by 2020.