Hanoi (VNS/VNA) - Investors of numerous renewable energyprojects have urged solutions to resolve pricing issues in a meeting withVietnam Electricity (EVN). 

EVN's director-generalTran Dinh Nhan said EVN welcomes feedback from the investors and its partnersand that the company has been working around the clock to resolve said issuesfollowing a guideline set by the Ministry of Industry and Trade (MoIT). 

Nguyen Thi Thanh Binh, deputy director-general from T&T Group, saidinvestors and businesses are especially concerned over a MoIT's decision tobring down prices to 1,185-1,508 VND per kWh for solar and 1,587-1,816 VND per kWhfor wind, a 20-30% reduction in comparison to the previous feed-in tariff,which was set 20 years ago. 

She also raised several issues with the current legal framework and saidinvestors and businesses have not been consulted about how price calculation isbeing done. 

"Investors ask MoIT to review the process and introduce a new pricecalculation mechanism, which should be in accordance with regulations. Westrongly believe an independent consulting agency should be brought in toensure transparency and fairness during the process," she said. 

Do Van Binh, director-general of Dai Duong Renewable Energy, said the ministryhas been slow on rolling out a detailed guideline for FiT calculations. 

Investors asked the ministry to quickly connect already-finished renewableprojects to the national grid and keep a record of their input, for whichprices can be determined at a later date. 

In addition, investors said they are concerned over the removal of severalincentive schemes by the ministry, namely a 20-year fixed price, maintainingconversion rate to USD, and guaranteeing the purchase of the entire output.

Binh said the incentives were set up to encourage investment in renewable andcleaner energy in line with the government's direction to break away fromtraditional energy.

"We hope for a stable environment and a system in which the prices reflectthe amount of investment we have put in," she said. 

Pham Nguyen Hung, deputy dead of MoIT's Department of Electricity and RenewableEnergy, said the incentives, while in fact designed to encourage investment,cannot stay in place indefinitely and are subject to changes in the market. 

In an earlier development, MoIT formed an independent council to gatherfeedback from investments and consult with industry experts over pricing mechanismsfor renewable energy./.