Solar development in Vietnam has been blooming since the introduction of attractive solar FIT under Decision 11/2017/QD-TTg on the development of solar power projects (Decision 11). However, Decision 11 expired on 30 June 2019 without any immediate replacement, the previous FIT under Decision 11 is no longer applicable to solar projects not reaching COD after 30 June 2019, thus put many solar developers on misgiving and hesitations in further pursuing solar development projects in Vietnam.
Yet, it is better late than never, after numerous consideration with multiple draft versions, on 06 April 2020, the Prime Minister has now officially issued the long-awaited new supportive mechanism for solar power projects in Vietnam – under Prime Minister Decision No. 13/2020/QDTTg (Decision 13), which will take effect from 22 May 2020. In this legal update, we will highlight some major changes under Decision 13 that, from our point of view, developers should stay alert on.
Hoang Le Hang
Business Development Manager
Tel: +84 24 3971 0888