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No feed-in-tariff incentive price extension for wind power projects after October

The Ministry of Industry and Trade said Friday it would not consider extending the feed-in-tariff incentive price for wind power projects after Oct. 31.

Speaking to correspondents at a regular ministry press briefing, Hoang Tien Dung, head of the Electricity and Renewable Energy Authority, said many localities had sought an extension for three to six months since southern provinces, where many wind power plants are coming up, have had long lockdowns due to Covid-19, which have slowed down construction progress.

The FITs for offshore and onshore wind power currently stand at 9.8 cents and 8.5 cents per kilowatt-hour applicable for 20 years for plants that begin commercial generation before Nov. 1.

For plants built after Oct. 31 prices will be determined through a bidding mechanism.

Under the mechanism, which is being developed by the Ministry of Industry and Trade, wind power plants will negotiate electricity prices with buyers based on a price frame announced annually by the ministry.

Image: Unplash/ TONY PHAM


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