Vietnam

The first phase of the project is expected to start operations by 2024.

This is urged for localities with potential for wind power development.

An auction system is being mulled over to replace FiTs after 2023.

Co-authored by Justine Barthe-Dejean, Reed Smith and Nguyen Thi Xuan Trinh, Partner, VNA Legal

Projects still get greenlighted as Mekong River nations struggle to meet climbing power demand, but concerns on their environmental, social, and economic effects are also mounting.

Their first phases are set to be commissioned in 2025-26.

Tight deadline for the projects drives investments outside the FiT allotment.

The project is said to produce about 49,526MWh of renewable energy yearly.

Asia received $10b of investments whilst Europe got $5.6b.

If plant retirement continues at the current pace, carbon emissions could still rise by 247% over the sector budget.

17GW of coal-powered plants are already under construction.

Gas-fired generation will take a hit amidst depletion of domestic reserves.

They are set to be completed by 2021.

The scale of the projects qualified for the programme will range from 400MW to 1,000MW.

The tariff has been set to 9.35 cents per kWh until 2021 to lure solar developers.

Regulators might find it difficult to catch up with rapid developments in the industry.