Renewable energy is undeniably a popular trend in the energy sector while other traditional forms of energy such as fossil fuel and hydropower are winding down. Yet, it hasn’t received due attention from investors and relevant agencies. Lacking long term policy seriously threaten the development of this sector.
With the total investment reaching 191 million USD and estimated power output up to 168MWp (Megawatt Peak), the solar power plant in the central Ninh Thuan province is dubbed as the most ambitious and biggest renewable power project in Vietnam up-to-date. Land clearance and other related processes have been settled to ensure the construction of the plant.
There are approximately 20 solar power projects under construction in Ninh Thuan. Supports from local government include: land rent exemption, application of 10% corporate income tax for the rest of the project life-cycle, as well as corporate income tax exemption for a maximum of 4 years to attract investors in the renewable energy development.
Despite positive outcomes, experts are still wary of the fact that renewable energy development in Vietnam still at the infancy and are not centralized. Moreover, the overall plan for development of clean energy is nowhere to be seen.
According to experts, until when Vietnam can sort out a master plan to develop the renewable energy in accordance with the development and integration into the national power grids, then clean energy remains a far-fetched dream./. VNA
