Government is going to issue the mechanisms on solar power development

Government is going to issue the mechanisms on solar power development - 

On May 11, Deputy Prime Minister (DPM) Trinh Dinh Dung chaired a meeting with representatives of several ministries and businesses to develop mechanisms for encouraging solar power development  before reporting at the meeting of Government permanent members for the Prime Minister to sign the decision.

The meeting attended the leaders of ministries of Industry and Trade (MoIT), Finance (MOF), Planning and Investment (MPI), State Bank, Government Office and Electricity of Vietnam (EVN).

After addressing of participants, DPM Trinh Dinh Dung high appropriated careful and scientific preparation of MoIT during establishing the draft decision of the Prime Minister. DPM also asked MoIT to acquire comments of the ministries and businesses for fulfilling draft decision and pay attention to additional comparison with developed and developing countries, especially with the ones of development level equivalent to ours for drawing the lessons in policy making solar power development.

DPM asked MoIT and localities to promptly introduce the areas of developing renewable energy sources into planning projects in order to avoid conflict with the other planning projects.

It is expected the draft decision of Prime Minister on mechanisms for supporting solar power development perfected by MoIT should be reported at a meeting of Government permanent members before Prime Minister signing for promulgation.

“Vietnam is a country close to the Equator, with a great potential of solar energy. In spite, in Electricity Law 2004 there were many mechanisms on priority for developing this kind of energy but there was still lack of the financial mechanisms for encouraging and promoting solar power development”, said Deputy Minister of MoIT Hoang Quoc Vuong.

This decision of Prime Minister will be a specific legal framework for State management activities in developing solar power and help procedures of investment to solar power projects in Vietnam to become transparent, by that promote solar power projects investment to supplement capacity for power system to replace the fossil fuel sources being gradually exhausted. The decision will also stipulate the levels of subsidy of electricity tariff for solar power projects.

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