On January 15, 2019, the Ministry of Industry and Trade issued the Circular No. 02/2019/TT-BCT regulating the development of wind power projects and the model electricity purchase and sale contracts for wind power projects. This Circular takes effect from February 28, 2019.
Accordingly, the Ministry of Industry and Trade has specified the planning of wind power projects to implement the development of wind projects and the conditions for the construction of wind power projects. As follows:
– Development of wind power projects shall be carried out in accordance with the electricity development planning, appraising, submitting to competent authorities for approval and supplementing the electricity development planning for projects not yet included in the planning;
– Operation schedule, the capacity scale of the project phases must comply with the electricity development planning and wind power development planning approved by competent authorities;
– The provincial People’s Committee must update the plan to connect the wind power project to the electricity system to ensure the transmission of the project capacity and the ability to absorb the electricity system in the project area;
– Wind power projects are only started and constructed when meeting the conditions under the law on construction investment management, environmental protection requirements and conditions such as Profile Construction designs are appraised and approved according to current regulations; Power purchase and sale contract signed with the electricity buyer; Having a financial supply contract and a commitment to capital resources to ensure the construction progress is in accordance with the approved schedule in the construction investment project.
It can be seen that the new regulation of the Ministry of Industry and Trade will promote the exploitation, development, and attraction of investors in the field of wind power, contributing to promoting the country’s economy.