Transferring solar projects to foreign investors ‘normal’: MoIT

Published onMay 21, 2020

The Ministry of Industry and Trade (MoIT) has said that transferring all or part of a solar power project was normal according to market rules and the Investment Law. The MoIT was responding after concerns were raised that many solar power projects initially assigned to Vietnamese investors were being transferred to foreign investors. Hoàng Tiến Dũng, director of the MoIT’s Electricity and Renewable Energy Authority, said: “The existing regulations allow the transfer of projects to eligible foreign investors. Transferring projects and changing shareholders need the approval of the Ministry of Planning and Investment or the Department of Planning and Investment depending on project scale.” As of May 11, according to the Department of Electricity and Renewable Energy, Việt Nam had 92 solar power projects and 10 wind power projects with a total capacity of nearly 6,000 MW in commercial operation.