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Following the recent issuance of the new Electricity Law dated 30 November 2024 ("New Electricity Law"), in late December 2024, the Ministry of Industry and Trade of Vietnam ("MOIT") released the first drafts of five decrees of the Government regulating in detail certain contents of the new Electricity Law for public comments.
They include: Draft Decree of the Government on the direct power sale and purchase agreement ("DPPA") mechanisms between renewable energy generation companies ("RE GENCO") and large power consumers ("Large Power Consumers") ("Draft New DPPA Decree"), which is proposed to replace Decree No. 80/2024/ND-CP dated 3 July 2024 ("Current DPPA Decree No. 80").
Overall, the Draft New DPPA Decree has inherited most provisions of the Current DPPA Decree No. 80, with certain new revisions proposed and certain issues remaining.
For more details of the Draft New DPPA Decree, please find attached our detailed legal alert, noting that these are still in the draft form, subject to public comments and further updates by the MOIT until the proposed decree can be issued by the government in replacement of the Current DPPA Decree No. 80.
In the meantime, this Draft New DPPA Decree should serve as another round of enhancement to the DPPA framework, without interrupting the existing developments of DPPA projects under the currently effective DPPA Decree No. 80.
Click here to read the full alert.
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