Updating wind power projects in Vietnam recognized to be in COD

07/09/2021 14:01:46 - views: 637

The Electricity of Vietnam (EVN) informed that as of the beginning of August 2021, there 106 wind power projects with a total capacity of 5,655.5 MW sent the documents for asking the EVN to recognize them in Commercial Operation Date (COD).

By the end of August 2021, there were 24 wind power projects with a total capacity of 963 MW put into commercial operation. In the coming time, EVN will continuously update and inform the wind power projects recognized in COD before October 31, 2021.
 
According to the Vietnam Energy Magazine, during the complicated development of the Covid-19 pandemic, many investors of wind power projects ask the competent authorities to prolong the validity period of the FIT mechanism by 6 months for the wind power projects being in construction and by 12 months for off-shore wind power projects being in construction to avoid the series of these projects to go bankrupt.

Name of wind power plant Number of turbines COD Total capacity recognized COD
Hoa Binh 1 - stage 2 4 15,2 MW
Ninh Thuan No.5 5 21 MW
7A 3 12,6 MW

The International practice and Vietnamese law stipulate: "The Covid-19 epidemic is a force majeure cause", so the investors, especially the foreign investors, suppliers of the wind power turbines cannot ask the contractors to compensate or overcome a part of the losses.
 
However, based on the real status that in recent time, in the fight against Covid-19 pandemic, the investors of wind power projects have made great efforts to speed up all the domestic works, were at disadvantage in investment costs, loan interest rate increase, that can lead to high bankrupt risk, the Vietnam Energy Magazine would like to agree with many investors to ask the government to prolong the FIT mechanism for wind power projects as mentioned above.

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