On 30 September 2021, the Vietnam Ministry of Industry and Trade (“MOIT”) confirmed that there would be No FIT extension for wind energy projects after 31 October 2021.
The Ministry of Industry and Trade recently issued a new draft Circular on regulations on methods of building electricity generation price brackets and determining electricity generation prices, power purchase agreement for solar and wind energy projects. This Circular will apply to solar energy projects that have not met the COD deadline of 1 January 2021 or wind energy projects that have not met the COD deadline of 1 November 2021. Though it is only at draft stage, it is expected that the Circular will come into force soon and give developers as well as investors clarity on renewable power projects development and related transactions.
To read the full text of this post by Duane Morris partner Dr. Oliver Massmann, please visit the Duane Morris Vietnam Blog.