The Ministry of Industry and Trade proposed the Ministry of Finance to build a capital mobilization mechanism for electricity?

The Ministry of Industry and Trade has proposed that the Government assign specific tasks to ministries and branches to effectively implement Power Plan 8.

Accordingly, from now until 2030, Vietnam needs 134.7 billion USD in investment for power source projects. Specifically, from 2021 to 2025, it is 57.1 billion USD, of which power source is 48.1 billion USD, transmission grid is 9 billion USD; investment capital for the period 2026 - 2030 needs about 77.6 billion USD, of which power source is 71.7 billion USD, transmission grid is 5.9 billion USD.

The report clearly states: "All investment capital for electricity sector investment projects uses capital sources other than public investment capital."

Bộ Tài chính chủ trì xây dựng cơ chế tài chính và huy động vốn cho điện? - Ảnh 1. — From now until 2030, Vietnam needs nearly 135 billion USD to invest in power sources, without using public investment capital.

From there, the Ministry of Industry and Trade also proposed that the Government assign the Ministry of Finance to preside over and coordinate with relevant ministries and branches to develop financial mechanisms and capital mobilization mechanisms for investment in the development of the electricity sector in accordance with the approved electricity planning and implementation plan.

At the same time, the Ministry of Finance is assigned to coordinate with the Ministry of Industry and Trade to develop policies on electricity prices according to market mechanisms; financial mechanisms, electricity price mechanisms, and incentive mechanisms for implementation. In addition, it is necessary to preside over and review legal documents on taxes, finance, and accounting to ensure the implementation of financial mechanisms; encourage and support the implementation of the electricity demand management program; load adjustment program, and use energy economically and efficiently.

According to this report, the Ministry of Industry and Trade will preside over and continue working with investors of coal-fired power plants in the process of investment, carefully review legal regulations, commitments and agreements between the parties to handle the matter thoroughly.

The Ministry of Planning and Investment will take the lead in developing a public and transparent bidding mechanism to select investors to implement power projects and guide localities in implementation. At the same time, it will develop a policy mechanism to attract foreign investment, ODA capital and private investment capital for the development of the power sector in a synchronous, balanced and sustainable manner.

The State Bank directs credit institutions to create favorable conditions for customers and enterprises investing in power projects under Power Plan 8 and the plan to implement Power Plan 8 to access bank credit capital conveniently in accordance with the law.

In addition, the report also pointed out some difficulties in implementing the plan to implement Power Plan 8. In particular, related to solar power projects that have had their planning approved, investment policies approved by competent authorities and assigned to investors... However, the Institute of Energy (the agency assigned by the Ministry of Industry and Trade to make the plan) reported that it was unable to carry out this request.

According to statistics, there are currently 23 projects/parts of projects with a capacity of 2,360.42 MW of solar power projects that have been approved, have had investment policies approved and have been assigned to investors.

Source link