Illustrative image (Source: VNA)

Hanoi (VNA) – Numerous incentives will be offered for solar-power energy projects in Vietnam, according to a recently-issued decision from Prime Minister Nguyen Xuan Phuc that takes effective from June 1, 2017 – June 30, 2019.

Any organisations or individuals involved in solar power projects in Vietnam will be eligible for the incentives.

The solar power output will be bought by the Electricity of Vietnam and its authorised members. Organisations and individuals with licenses for supplying power for the national grid can sell the power, or anyone who wants to sell their unused solar power. 

According to the decision, the buyer is required to buy all the output of solar power projects, with 20-year contract terms.

Solar power generating projects will enjoy tax exemptions for importing goods for their fixed assets.

Solar power projects will also enjoy corporate income tax exemptions and reductions.

For power grid-connected projects, the buyer shall buy all of the projects’ output at 2,086 VND (0.09 USD) per kWh (excluding VAT), and subject to changes according to the VND/USD exchange rate.

The Ministry of Trade and Industry will annually issue the buying and selling prices of solar power produced by roof-based solar power projects based on the VND/USD exchange rate.-VNA