The Ministry of Industry and Trade has just requested Vietnam Electricity Group (EVN) to review, synthesize and propose economic solutions for 14 solar power projects that have been enjoying incentive price mechanisms that are not in accordance with the content of Resolution No. 115/NQ-CP dated August 31, 2018.
Specifically, the projects include Hacom Solar factory, Sinenergy Ninh Thuan 1, Thuan Nam Duc Long, Thien Tan solar Ninh Thuan , Phuoc Ninh, My Son 2, My Son, Solar Farm Nhon Hai, Bau Zon, Thuan Nam 12, SP Infra1, Adani Phuoc Minh, Bau Ngu Lake (compartment 473), 450MW solar power plant combined with 500kV Thuan Nam station and 500kV, 220kV lines.
The conclusion of the Government Inspectorate stated that 14 projects above were applied with the support electricity price (FIT) of 9.35 US cents/kWh not to the right subjects in Resolution No. 115. Therefore, from 2020 to June 30, 2022, EVN had to pay an increase of about VND 1,481 billion (provisional) compared to the payment according to the right subjects.
EVN had to pay an additional VND1,481 billion for 14 solar power projects with incorrect prices (Illustration photo: Reuters).
For grid-connected solar and wind power projects nationwide that have been recognized as having commercial operation date (COD) according to FIT price, EVN is required to report and provide legal basis to implement specialized electricity agreements; sign power purchase contracts.
In addition, there are checking the conditions and energizing the connection point; checking the readiness of the conditions for power generation; recognizing COD; putting the power project into operation; paying for electricity purchase and sale; stopping mobilization and separating the connection.
EVN is also required to review the entire process of implementing specialized electricity agreements, signing electricity purchase and sale contracts, checking conditions and energizing connection points, recognizing COD, putting power projects into operation and paying for electricity at FIT prices for investors of wind and solar power projects.
EVN is required to propose solutions to resolve and handle the existing problems and violations of the investor and EVN.
EVN is also required to work with Trung Nam Hydropower Joint Stock Company to select a capable, experienced, and reputable auditing unit to audit the total investment cost of the Dong Nai 2 Hydropower Plant project, on that basis, the parties have a basis to review and renegotiate the electricity purchase price, and report to the Minister of Industry and Trade and the Electricity Regulatory Authority for consideration and settlement in accordance with the provisions of law.
EVN determined that the interest temporarily paid exceeded the prescribed framework compared to the electricity price approved by the Ministry of Industry and Trade for Dong Nai 2 Hydropower Plant and Song Bung 4A Hydropower Plant.
Review and renegotiate the electricity purchase price of Vung Ang 1 Thermal Power Plant and Dong Nai 5 Hydropower Plant in accordance with the provisions of law and the audit results of the State Audit.
EVN's inspection conclusion implementation report is required to be sent to the Ministry of Industry and Trade before August 31.
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