Vietnam Electricity (EVN) has been tasked to deal with 14 solar power projects in Ninh Thuan province that have been given feed-in-tariff (FiT) rates that they are not entitled to.
The 14 projects are: Hacom Solar, Sinenergy Ninh Thuan 1, 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, Bau Ngu Lake and the 450 MW Thuan Nam project combined with the 500 kV Thuan Nam station and its 500kV, 220kV transmission lines.
Vietnam’s Government Inspectorate said the solar power projects were titled to the FiT price of 9.35 cents per kWh for 20 years are those selected in 2018 by then Prime Minister Nguyen Xuan Phuc or approved later by the PM for inclusion in the national power development plan, with a total capacity of 2,022 megawatts.
Later, the Ministry of Industry and Trade advised the government to expand the list to solar projects present in electricity development planning at all administrative levels.
Therefore, the 14 projects have been improperly deemed to be eligible to enjoy a selling price of 9.35 cents for 20 years. The total sum paid by EVN to the 14 investors in 2.5 years, from 2020 to June 2022, was VND1.48 trillion ($62.34 million) higher than regulated, according to the inspectorate.
The inspectorate has also said the ministry is responsible for handling the situation.
The ministry has since asked EVN to review the whole transaction process with the 14 projects and propose measures to deal with any wrongdoing by EVN and the investors.