EVN was assigned to find a solution to handle 14 solar power projects that were incorrectly enjoying preferential incentive prices (FIT prices) in Ninh Thuan.
The conclusion of the Government Inspectorate stated that the subjects mentioned in Resolution 115, enjoying the FIT price of 9.35 cents per kWh for 20 years, are solar power projects decided by the Prime Minister or approved in writing for implementation in the national power development plan, with a total capacity of 2,022 MW. However, the Ministry of Industry and Trade later advised and expanded the subjects applying the FIT price to projects already included in the power development plan at all levels.
The projects include Hacom Solar, Sinenergy Ninh Thuan 1 solar power, Thuan Nam Duc Long, Thien Tan Solar Ninh Thuan, Phuoc Ninh, Son My 2, Son My, Solar Farm Nhon Hai, Bau Zon, Thuan Nam 12, SP Infra 1, Adani Phuoc Minh, Ho Bau Ngu and 450MW solar power project combining 500kV Thuan Nam station and 500kV, 220kV lines.
This resulted in 14 projects enjoying a preferential FIT price of 9.35 cents per kWh for 20 years, which was not in accordance with regulations. The amount of electricity that Vietnam Electricity Group (EVN) must pay to these investors in 2.5 years (from 2020 to June 2022) increased by more than VND 1,480 billion. The inspection agency determined that the responsibility belonged to the Ministry of Industry and Trade.
To implement this conclusion, in a recent document sent to EVN, the Ministry of Industry and Trade requested EVN to review, provide data, information, and propose solutions to handle 14 solar power projects in Ninh Thuan that are enjoying incentive price mechanisms that are not in accordance with Resolution 115/2018 of the Government.
The Ministry of Industry and Trade also requested EVN to review the entire process of implementing the agreement, signing the power purchase contract, checking the conditions and connecting the grid, recognizing the commercial operation date, and paying for electricity purchased at the FIT price for wind and solar power investors. From there, the group proposed a solution to handle the violations of the investors and EVN.
With a large capacity rooftop solar power system (nearly 1MW), based on the conclusion, EVN and provincial power companies reviewed projects invested in construction on agricultural and forestry land under the model of investing in farming and proposed solutions.
EVN was also asked to work with Trung Nam Hydropower Joint Stock Company; select an auditing unit to audit the total investment cost of the Dong Nai 2 Hydropower Plant project. The Group re-determines the amount of interest temporarily paid exceeding the prescribed framework compared to the electricity price approved by the Ministry of Industry and Trade for Dong Nai 2 and Song Bung 4A plants; renegotiate the electricity purchase price of Vung Ang 1 and Dong Nai 5 Thermal Power Plants according to legal regulations and audit results of the State Audit.
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