Vietnam’s government is actively fostering technological advancements in the wind and solar power sectors, as outlined in a recently issued decree. This new policy aims to encourage research and development efforts in renewable energy.
Effective from March 3, the decree provides guidelines on implementing provisions of the Electricity Law related to the growth of renewable and emerging energy sources. It highlights that projects integrating energy storage systems with renewable energy sources and connected to the national grid will be given priority during peak electricity demand periods, except for self-generated and self-consumed electricity.
The government is also focusing on supporting scientific and technological research, along with the production of key components such as solar panels, wind turbines, and power conversion equipment. Additionally, new energy projects can benefit from preferential policies and incentives under Clause 2, Article 23 of the Electricity Law, provided they meet specific requirements. Eligible projects must generate electricity entirely from green hydrogen, green ammonia, or a combination of both, contribute to the national power grid, and be the first of their kind within their respective energy category.
To further support these initiatives, projects meeting the criteria will receive exemptions from maritime area use fees for up to three years during infrastructure construction, followed by a 50% reduction for the next nine years. They will also be exempt from land use and lease fees for up to three years during the construction phase. Beyond this period, any further exemptions or reductions will be granted based on existing land and investment regulations.
