The growth of Vietnam’s solar power sector has accelerated rapidly since April 2017 with the release of the Government of Vietnam’s Decision No. 11 /2017/QD-TTg, allowing solar power producers to sell electricity to the grid at a feed-in tariff of 9.35 US cents per kilowatt-hour. Since then, a total capacity of nearly 4,500 megawatts has been installed and is currently selling electricity to the grid. To promote further solar power development, in April 2020, the Government of Vietnam issued Decision No. 13/2020/QD-TTg, which specifies a feed-in tariff of 7.09 US cents per kilowatt-hour, applicable to utility-scale solar projects approved before November 2019 and starting commercial operations before the end of 2020.
Despite these positive developments, many local developers and lenders remain unfamiliar with international practices for financing renewable energy projects, and solar development in Vietnam remains hampered by regulatory hurdles and limited access to financing. To address these challenges, we have updated these Bankability Guidelines for Utility-Scale Solar Projects in Vietnam to support developers to improve the bankability of their projects, and assist lenders and investors who are evaluating financing for potential projects.
Along with these guidelines in this package, we also provide a financial model that you may find useful in assessing the bankability of a project. We hope these guidelines support your efforts to advance solar power development in Vietnam.
(Last update: August 31, 2020 / File size = 1.8 mb)