The government has just issued Decree 58/2025/NĐ-CP with many attractive incentives to promote the development of renewable energy in Vietnam. Here are some key points:
- Incentive policies for the development of renewable energy:
- Priority is given to mobilizing renewable energy projects with energy storage systems during peak hours.
- Support for research and development of wind and solar power technologies.
- Conditions for applying incentive policies:
- New energy projects must be produced from 100% green hydrogen or green ammonia.
- Projects must supply electricity to the national grid and be the first project of each type of new energy.
- Specific incentive mechanisms:
- Exemption from sea area usage fees and land rental during the basic construction period (not exceeding 3 years).
- 50% reduction in sea area usage fees for 9 years after the exemption period.
- Long-term minimum contracted electricity output is 70% during the loan principal repayment period but not exceeding 12 years.
This decree takes effect from March 3, 2025, and promises to create a breakthrough in the development of renewable energy, contributing to environmental protection and sustainable economic development.