INTERNATIONAL EXPERIENCES IN RENEWABLE ENERGY AUCTIONS (IEREA 2021) - THE U.S. EXPERIENCES
A five-day webinar series on experience sharing in renewable energy (RE) auctions including Denmark, India, Germany, the United Kingdom, and the United States, IEREA 2021 was organized by PECC3 with the support of the Center For Procurement Support (under the Public Procurement Agency, Ministry of Planning and Investment).
Apart from developing auction schemes, the US discussed how to slowly but surely achieve the lowest price and increase the degree of competition during this session. As a team of excellent offline and online Vietnamese English interpreters and translators, AKT was proud to be trusted throughout the 5 sessions of the series.
The United States is currently implementing an auction system for seabed leases for offshore wind projects. The process is round-based, with bidders submitting either "live" or "exit" bids. The winning bidder will be determined by the highest bid. However, in order to foster competition and collaboration among project developers, each bidder was limited to winning a single lease area.
It is necessary to balance price and risk during the auction stage, while establishing qualifications and requests for proposals. Solar park and substation auctions are also two types of auctions that the Vietnamese government should consider to mitigate investors' risk associated with land space and grid connection.
In terms of auctioneer selection, all countries that use centralized auctions establish their Task forces to take the lead, while the government makes plans, issues instructions, and assumes overall responsibility. Other countries entrusted regulators with the responsibility of managing and supervising the auctions. Vietnam, Egypt, and the United Arab Emirates, among other countries, make use of procurers or utilities such as EVN. It is suggested that auctions conducted by national organizations were generally more successful.
To ensure qualified bidders, the design stage of requests for proposals should be well-prepared, which includes the following three elements: capacity requirements for each technology; pre-qualification requirements such as connection, environmental impact assessment, land-use rights, and financial qualifications; and auction prices that are appropriate for the technology.
Following five sessions brimming with first-hand accounts from countries that paved the way. Vietnam is expected to make significant progress in developing the scheme and conducting research into the auction's applicability in the Vietnamese legal and business environment.
We appreciate your confidence in both our offline and online English Vietnamese translation services. I hope our paths cross again in the near future!
Read more at: https://www.pecc3.com.vn/en/auction-theory-and-case-studies-on-renewable-energy-auction-in-the-usa/
--------------------------------------------------
AKT Service Co., Ltc. is Vietnam's leading Language Service Firm. We have over 20 years of experience in a variety of language-related fields, including translation, interpretation, Bilingual MC, language training, interpreter training, and cabin interpretation. AKT will provide valuable experience to all customers by using strictly selected staff members and professional, quick, and efficient processes.
To order us for your events requiring English – Vietnamese excellent Interpreters, Click here.