Vietnam Prioritizes Renewable Energy R D with New Decree, Incentivizing Green Hydrogen and Energy Storage Projects

Vietnam, March 3rd: A new government decree prioritizes research and development in wind and solar power, effective March 3rd. It favors renewable energy projects with integrated storage connected to the national grid, mobilizing them during peak demand, excluding self-generated electricity. The government will prioritize science and tech programs for solar panel, wind turbine, and power conversion equipment production. New energy projects using 100% green hydrogen, green ammonia, or a mix, and supplying the national grid, are eligible for incentives under the Electricity Law. These include maritime area use fee exemptions for up to three years during construction and a 50% reduction for the next nine years. Land use and lease fees are also exempt during construction (up to three years), with further reductions or exemptions following investment and land regulations.