Solar power market in Vietnam has witnessed a rapid growth and significant investment potential in the recent years. In light of the recent attempts to boost the solar power development from the Government of Vietnam, Ministry of Industry and Trade of Vietnam (“MOIT”) has issued Circular No. 18/2020/TT-BCT (“Circular 18”) dated 17 July 2020 on project development and attaching standard form of power purchase agreements (“Model PPA”) applicable to ground based, floating and rooftop solar power projects.
The new Circular 18 provides detailed guidance for the implementation of Decision 13/2020/QD-TTg dated 06 April 2020 of the Prime Minister of the government of Vietnam (“PM”) on incentives for development of solar energy in Vietnam (“Decision 13”). Circular 18 further aims to fill the gaps of earlier Circular No. 16/2017/TT-BCT dated 12 September 2017 (“Circular 16”).
This Article shall provide a set of notable key points under Circular 18 for the energy sector businesses to have a crystal clear and detailed insight into the e new solar regulations provided under Circular 18.
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