Hanoi, September 13 (Engineering Daily) -- Higher tariffs for the wind power projects of Vietnam is expected to accelerate investments.
The Vietnamese prime minister Nguyễn Xuân Phúc has approved of increasing FIT(Feed-in-Tariff) rates on 10th of this month.
The FIT for wind power projects will be increased to 8.5US cents(95Won)/kWh and 9.8US cents(100Won)/kWh onshore and offshore respectively.
In 2011, wind power projects in Vietnam had confronted difficulties in proceeding the business but the raise in FIT has attracted the business associates's interest.
Vietnam holds 200MW wind power capacity and 100MW is under construction. The government targets 6,000 MW of wind energy and 12,000 MW of solar energy production by 2030 under the country’s current Power Development Plan.
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