An auction system is being mulled over to replace FiTs after 2023.
The Prime Minister of Vietnam has approved the extension of feed-in tariffs (FiTs) for wind power projects . The FiTs, originally applied to wind projects that are scheduled to enter commercial operations before November 2021, will be extended until the end of December 2023.
In September 2018, the Vietnamese government set the 20-year FiT at US$0.085c/kWh for onshore wind power projects and at US$0.098c/kWh for offshore wind projects commissioned before 1 November 2021. An auction system is under consideration to replace FiTs after 2023.
In April, the government unveiled new feed-in tariff rates for utility-scale, rooftop and floating solar projects. FiT prices per kWh were determined based on three technology types: ground-mounted projects will receive $0.0709 (VND1,644), floating solar energy projects $0.0769 (VND1,783) and rooftop solar energy projects $0.0838 (VND1,943).