Vietnam News-July 17

Electric Power Trading Company (EPTC), an arm of Electricity of Việt Nam, and India’s Shapoorji Pallonji Infrastructure Capital Co Ltd on Monday signed a power purchase agreement for the solar power project SP Infra 1 Plant in Ninh Thuận Province.

This is the first power purchase contract signed for a solar project in the country.

The contract is based on the Prime Minister’s April 2017 Decision on mechanisms to encourage the development of solar power projects in Việt Nam and the Ministry of Industry and Trade’s circular on regulations of the development and purchase contract for solar power projects.

According to the existing regulations, solar power projects are entitled to the price of VNĐ2,086 (9.35 US cents) per kWh, subject to the exchange rate fluctuation. The buyer is responsible for purchasing all the electricity generated from the grid-connected projects which operate commercially before June 30, 2019 under the 20-year purchase agreement.