Higher wind power prices needed to encourage investment

Wind power prices in Vietnam are too low and need to be raised to encourage more investment in the sector, industry insiders say.

Nguyen Boi Khue, chairman of Binh Thuan Province Wind Power Association, said his association would hold a meeting in April to request the government for a price increase.

The Ministry of Industry and Trade has set wind power prices at only 4 US cents per kWh while the cost of generating is not less than 10 cents, Khue said.

“The price has been left unchanged for 13 years and it’s no longer up-to-date.”

Many companies really want to have a new pricing system so that they can make investment decisions and attract funds from foreign partners, he said.

The country has great potential to develop wind energy but many investors are not willing to pour money into the sector because of low prices and the lack of government support, Khue said.

Tags: Vietnam electricity, Vietnam energy, Vietnam power plants, Vietnam wind power