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Tuesday, July 23, 2024

Sixty-two renewable energy projects cut deals for tentative electricity prices

By N. Tan

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HCMC – Sixty-two renewable energy projects had proposed tentative prices to Vietnam Electricity (EVN) as of August 1.

Among the 74 transitional renewable power projects that submitted their documents to EVN for pricing negotiations, 62 projects with a combined capacity of 3,400 MW proposed tentative prices equal to 50% of the price ceiling set by the Ministry of Industry and Trade under Decision 21.

So far, EVN has successfully completed price negotiations and signed power purchase agreements with 59 out of the 62 projects.

The Ministry of Industry and Trade has approved tentative prices for 58 of the 59 projects, totaling over 3,181 MW in capacity. Additionally, 17 entire and partial renewable energy projects, with a combined capacity of nearly 859.52 MW, have completed the necessary procedures for commercial operation and are now connected to the national grid.

As of July 21, the transitional renewable energy projects reached an overall capacity of nearly 211.7 million kWh, with average daily output of 3.2 million kWh, accounting for 0.4% of the total mobilized electricity.

Up to now, 21 projects have been fully or partially reviewed and accepted by the competent authorities, and operating permits have been issued for 30 projects, covering either the entire facility or a portion of it. Additionally, 38 projects have received approval for an extension of their investment policy.

However, there are still 11 transitional renewable energy projects, with a total capacity of 734.70 MW, which have yet to submit their documents to the Electricity Power Trading Company (EPTC) under EVN for negotiations on prices and power purchase agreements.

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