Business

Purchase price for biomass power adjusted up

The Prime Minister has promulgated a decision adjusting up the purchasing price for biomass power.
Purchase price for biomass power adjusted up ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) – The Prime Minister has promulgated adecision adjusting up the purchasing price for biomass power.

Under Decision 08/2020/QD-TTg,which amends and supplements several articles of Decision 24/2014/QD-TTg onmechanisms to support the development of biomass power in Vietnam, the purchaseprice for electricity generated by combined heat and power generation (CHP)projects at the delivery point is 1,634 VND (7.03 US cents) per kWh, higherthan the 1,220 VND per kWh in the previous regulation (according to the VND/USDexchange rate announced by the State Bank of Vietnam (SBV) on February 21,2020).

For other projects, the purchase price at the delivery pointis 1,968 VND (8.47 US cents) per kWh.

The above-mentioned prices do not include value added tax andare adjusted following the fluctuation of the US dollar based on the referenceexchange rate announced by the SBV on the date that the seller issues theinvoice.

Biomass power projects that have generated electricity beforeMarch 5, 2020 are subject to the above-mentioned electricity purchase pricefrom April 25.

Biomass power projects use biomass energy, such asby-products and waste in agricultural production, to produce electricity./.


VNA
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