Deputy Prime Minister Hoang Trung Hai has said that he endorses the early formulation of a legal framework to encourage investment into the production of solar energy.

At a meeting with the Ministry of Industry and Trade on April 2, the Deputy PM said the ministry should determine issues such as the planning of solar farms, transmission methods and investment incentives, among others.

He also urged the ministry to learn from the previous experience of other countries in order to introduce regulations appropriate to Vietnam’s specific conditions.

As Vietnam is located near the equator, it has large potential in solar energy, with a 50-megawatt farm able to produce 60-100 million kWh a year, according to an estimate by international consultants.

However, this source of renewable energy is yet to be exploited on a widespread level as the majority of projects are experimental and not commercialised due to high production costs and unattractive policies.

Source: Nhan Dan