The Vietnamese government has notified a new auction mechanism for awarding large solar PV projects. This marks a shift from the earlier feed-in tariff (FiT) regime to auctions. In this regard, Vietnam’s Ministry of Industry and Trade (MOIT) has issued notification no. 402/TB-VPCP, detailing the contours of the auction process. Accordingly, two types of auctions will be held by the MOIT one in which developers will have to compete to sell electricity to local power distributors and the other where they will have to compete for acquiring land.
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