VietNamNet Bridge – Private Public Partnership (PPP) is believed
to be the best solution for developing recycled energy projects. However, in
Vietnam, both the two partners – private investors and the state – still cannot
find a common voice to follow the model.
The Prime Minister’s Decision No.
71 released in 2010 officially kicked off the operation of the PPP model.
However, PPP in Vietnam has been facing too many difficulties.
Firstly, investors have not been
convinced about the benefits they can enjoy if developing PPP projects.
Analysts say while non-state
investors have to inject big money in technologies and labor force, they are
not sure about the profits and the time needed to take back the investment
capital. This has been attributed to unattractive encouragement policies set up
by the government, and to the lack of transparency in some matters.
The government has submitted to
the National Assembly the draft of the amended power law, while “ignoring” the
issues relating to the recycled energy sector.
At present, due to some reasons,
the prices of the electricity generated by recycled energy projects remain sky
high, thus making it less competitive in comparison with the electricity made
of fossil materials, and with the Chinese super cheap electricity imports.
Investors are ready to pour
capital into recycled energy projects. However, they would only make
disbursement when they can see the benefits the projects can bring.
Secondly, private investors
themselves still cannot successfully persuade the State to feel secure to
entrust them. The projects in the recycled energy sector mostly are the ambitious
mammoth projects with which investors hope to take back the investment capital
quickly.
The US First Solar Group has
arrived in Vietnam with the 1.2 billion dollar project in Cu Chi district in
HCM City. With the project, First Solar would be able to provide more than 250
MW of solar electricity to HCM City, the southern region and the north as well.
However, there has been no report
about the operation of any small pilot projects so far. The investor has just
shown the potential figures based on the existing research works and estimates.
Meanwhile, no similar project was implemented in Vietnam before. This has
raised worries to the government of Vietnam about a lot of possible problems,
including the environment problem.
As such, the US investor still
cannot convince the state about the benefits to be brought by the power project
to the nation. Therefore, it is understandable why the investor feels that the
State still has not paid appropriate attention to recycled energy projects.
Analysts have commented that
instead of persuading the partners about the benefits they can enjoy, both the
state and private investors have been simply running after their interests.
Meanwhile, the risks of the projects still have not been clarified for the
involved parties to weigh and decide whether to implement the projects.
The analysts believe that the PPP
model applied in Indonesia and Germany should be the lesson for Vietnam to
consider. While private investors show the government the visible benefits of
recycled energy projects brought by the pilot projects in reality, the
government of Indonesia made active responses by setting up reasonable
encouragement policies, including the policies on site clearance and low
interest rate loans.
In Germany, people, who use solar
energy for 20 years would be able to enjoy preferential prices. This means that
solar energy plants would feel secure about the outlets when they can sell
power at the prices higher by 50 cent per kwh than the normal prices.
Do Thien
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