Vietnam’s long-awaited solar power FiT 2 officially approved for certain projects

On 6 April 2020, the Deputy Prime Minister of Vietnam issued Decision No. 13 (No.13/2020/QD-TTg ) approving the new FiT of 7.69 US cents per kWh (for floating solar power projects), 7.09 US cents per kWh (for ground-mounted solar power projects) and 8.38 US cents per kWh (for rooftop solar power systems). The decision is effective from 22 May this year and will be valid for six months.

Over the last two years, Vietnam has seen a boom in solar power, making it a leader in Southeast Asia’s solar photovoltaic (PV) market. Data shows that as of the end of last June, the country’s cumulative solar PV installation reached nearly 4.464 MW.

According to Electricity of Vietnam (EVN), rooftop solar PV projects in the country generated a total of 25.459 MW by the end of February 2020.

The Vietnam Energy Partnership Group (VEPG) is launching a new resource database that will feature knowledge resources for the sector and regular updates on the development of Rooftop Solar power in Vietnam. The first factsheet for RTS development can be found at the following link: http://vepg.vn/wp-content/uploads/2020/02/VEPG_Factsheet_Rooftop_Solar_Develoment_VN_1st-issue_Dec_19_fin.pdf