Solar and wind power projects still have to use commercial loans and satisfy all requirements about collateral and interest rates like other borrowers.

Deputy Prime Minister Tran Hong Ha received Australian Ambassador to Vietnam Andrew Goledzinowski and leaders of Corio Generation of Australia’s Macquarie Group in Hanoi on March 28.

Progress on wind power projects in Dak Nong, expected to collect hundreds of billions of dong to the local budget each year, are at a standstill.

The opportunity for offshore wind power export could slip away if VN does not finalise the framework for the development of this renewable energy type within the next year, said industry insiders and exports.

A number of hydraulic and thermal power projects in the north are under execution. Many of them have been proceeding slowly for many years, and it is unclear when they will be completed.

The future for investors of wind power projects remains unclear.

Investors have repeatedly complained that prices for clean power are too low, but the Ministry of Industry and Trade (MOIT) has said the prices for wind and solar power were set after suggestions by an independent consultancy council.

Thirty-six wind and solar power investors have sent a document to the Prime Minister requesting to fix problems in the pricing mechanism for transitional wind and solar power projects.

The public will have to accept the 5-7 percent electricity price increase in 2023 as EVN has incurred a big loss of VND31 trillion and if it is not allowed to raise electricity prices, national energy security will be threatened.

The Ministry of Industry and Trade (MOIT) on January 7 issued a decision on the price framework for solar and wind power projects.

Negotiations about wind and solar power prices must observe the principles of publicity, transparency and consensus with investors.

The Asian Development Bank (ADB) has signed a 107 million USD financing project with BIM Wind Power Joint Stock Company (BIM Wind) to assist the operation of an 88 MW wind farm in the south central province of Ninh Thuan.

Vietnam boasts substantial potential for wind power, particularly offshore wind power, providing an opportunity for the country to fulfill its energy transition target towards green growth.

Many wind power projects in Quang Tri are behind schedule because of unfavorable weather conditions, the impact of the Covid-19 pandemic, slow site clearance and an unclear tariff scheme.

Vietnam has a large-scale mechanical industry market worth tens of billions of USD per year. However, domestic mechanical enterprises always lack orders.

Vietnam Electricity (EVN) proposed the Ministry of Industry and Trade reduce the purchase price of wind and solar power by 30 percent compared to the current one.

Vietnam Electricity Group (EVN) is seeking approval from the Government to develop 4,000MW wind power projects off the Gulf of Tonkin in northern Vietnam to ensure national energy security.

The Ministry of Industry and Trade (MoIT) has asked the Prime Minister about the mechanism for ongoing solar power and transitional wind power projects to enjoy the incentive price.

The government has chosen wind power and renewable energy in general to implement global commitments by 2050. But this is not expected to be a smooth path for a developing country like Vietnam.