Solar power developers acquire massive profit in short time Both local and foreign investors have acquired massive profit from solar power farms in a short time thanks to the incentives on selling price and tax. Solar farms, which can start commercial operation before December 31, 2020 can enjoy incentives on selling price, according to the government’s Decree No.13/2020/QD-TTg about the new selling price for solar power. Ngo Son Hai, deputy general director of EVN said that from now to the end of this year, 36 solar power plants are expected to come into commercial operation. Last year, EVN approved the COD of 86 plants which started operation before June 31, 2019 to enjoy the incentive. These projects have a total capacity of 5,400MWp. Thanks to these incentives, the top 10 solar power farms reported profit in the past year. Some of these projects came into operation less than six months ago. Notably, the Dau Tieng solar farm in the southern province of Tay Ninh, which is the solar farm with the largest capacity in Southeast Asia, acquired VND807 billion ($35.1 million) in revenue and VND456 billion ($19.83 million) in after-tax profit. The plant, which is a joint venture between Xuan Cau… Read full this story
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