In response to the Government Inspectorate's findings regarding legal compliance within the National Power Development Plan VII, the Ministry of Industry and Trade has taken action by urging the Vietnam Electricity (EVN) to thoroughly assess, consolidate, and recommend appropriate economic solutions for 14 solar power projects which have either already received or are benefiting from the Feed-in Tariff (FIT) mechanism that is not in line with the stipulations outlined in Resolution No.115/NQ-CP, issued by the Government on August 31, 2018.
The amount that EVN has to reimburse due to incorrect pricing is approximately VND1.48 trillion.
EVN is also requested to work with investors to audit the total investment costs of the Dong Nai No.2 Hydropower Plant, Vung Ang No.1 Thermal Power Plant, and Dong Nai No.5 Hydropower Plant projects. This assessment will serve as the foundation for a comprehensive review and negotiation of electricity procurement rates. The results must be reported to the Ministry of Industry and Trade before August 31.
