Rooftop solar power. — Photo tuoitrethudo.com.vn

HÀ NỘI — The Ministry of Industry and Trade (MoIT) asked Việt Nam Electricity (EVN) to propose economic solutions for 14 solar power projects enjoying the incorrect FIT pricing mechanism.

The ministry has just issued Document 5068/BCT-TTB to EVN on the implementation of the inspection conclusion No. 1027/KL-TTCP dated April 28 this year of the Government Inspectorate of Việt Nam on the observance of the law in the revised Power Master Plan VII and the revised Power Master Plan VII.

Accordingly, MoIT requested EVN to review, synthesise and propose economic solutions for 14 solar power projects that have been enjoying the incentive price mechanism (FIT) which are not consistent with the content of Resolution No. 115/NQ-CP dated 31/8/2021.

The increased amount EVN has to pay due to this incorrect price application is estimated at about VNĐ1.48 trillion (US$62.18 million).

For grid-connected solar and wind power projects nationwide that have been recognised for commercial operation date (COD) to enjoy subsidised electricity prices (FIT), the ministry also requires EVN to report, provide the bases for the implementation, as well as review the entire implementation process of the electricity sector agreements; sign power purchase and sale contracts; check the possibility of power generation readiness conditions; recognise COD; put the electricity works into operation; pay for electricity purchase and sale; stop mobilisation and disconnect connection.

The ministry also assigned EVN to report the shortcomings and propose a plan to deal with violations of the investors and EVN.

EVN is also required to work with Trung Nam Hydroelectric Corporation; select a competent, experienced and reputable audit unit to audit the total investment cost of the Đồng Nai 2 hydroelectric power plant project, on that basis to consider and renegotiate the electricity purchase and sale price, then, report to the Minister of Industry and Trade and the Electricity Regulatory Authority of Việt Nam for consideration and settlement in accordance with law.

Based on the inspection results, EVN is also assigned to review and renegotiate the electricity purchase price of Vũng Áng 1 Thermal Power Plant and Đồng Nai 5 Hydropower Plant in accordance with the law and the audit results of the State Audit Office of Việt Nam.

Report on results of implementing proposals in the inspection conclusion No. 1027/KL-TTCP of EVN is required to be sent to the Ministry of Industry and Trade before August 31. — VNS