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Vietnam adjusts biomass power prices

Adjustments have been made to biomass power prices under the Prime Minister’s Decision No.08/2020/QD-TTg on amendments and supplements to several articles of the Decision No.24/2014/QD-TTg dated March 24, 2014.
Vietnam adjusts biomass power prices ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – Adjustmentshave been made to biomass power prices under the Prime Minister’s DecisionNo.08/2020/QD-TTg on amendments and supplements to several articles of theDecision No.24/2014/QD-TTg dated March 24, 2014.

Accordingly, the prices willrange from 1,634 – 1,968 VND (0.07 – 0.08 USD) per kWh, exclusive of addedvalue tax.

According to the GermanAgency for International Development (GIZ), the new decision lays an importantfoundation for the Vietnamese Government to draw more investment in biomass powerdevelopment, towards the goal of generating 660 MW, 1,200 MW and 3,000 MW ofbiomass power by 2020, 2025 and 2030, respectively under the Power Master PlanVII.

Last year, only 175 MW ofelectricity generated by biomass power projects were added to the nationalgrid.

Over the past years, the EU-VietnamEnergy Facility (EVEF) project, carried out by the GIZ, has assisted theVietnamese Ministry of Industry and Trade (MoIT) in recalculating biomass powerprices, through collecting international experience and evaluating biomassmarket in Vietnam and the world.

Since 2019, the GIZ hascooperated with the Electricity and Renewable Energy Authority to carry out the Climate Protection through Sustainable Bioenergy Marketsin Vietnam (BEM) project, with the aim of promoting the sustainable developmentof biomass resources for thermal and power production.

The BEMproject is funded by the German Federal Ministry for the Environment, NatureConservation and Nuclear Safety.

The MoITreported that after nearly six years of development, around 350 MW of biomasspower have been connected to the national grid, or half of the target under the Power Master Plan VII till 2020./.
VNA
#biomass power development #Vietnamplus #Vietnam News Agency #Power Master Plan VII #EU-Vietnam Energy Facility #German Agency for International Development #GIZ Vietnam
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