Vietnamese PM demands solar auctions in place of subsidies

Published onNovember 29, 2019

Vietnam’s second-round solar feed-in tariff (FiT) could be cut short in favour of an auction model after the prime minister Nguyen Xuan Phuc issued an order highlighting shortcomings in the way the Ministry of Industry and Trade (MOIT) has handled the roll-out of solar power. The shock move, which still needs to be released in the form of regulations by the Ministry of Industry and Trade (MOIT) to come into fruition, would remove FiTs for future solar projects unless they have already signed a power purchase agreement (PPA) and can become operational in 2020, according to the document seen by PV Tech. As the original project completion deadline for the second FiT batch had been set at 31 December 2021, this move is likely to severely impact many projects under development.