A Thai energy company has decided to buy 100% of shares in two Vietnamese solar power plants with a total capacity of 50MW, estimated at nearly $27 million, Phnom Penh Post reported on January 31, citing sources from Thai energy company Banpu Plc.
Accordingly, Banpu Plc Energy Company will spend $26.7 million to buy shares in Chu Ngoc solar power plant with a capacity of 15MW in Gia Lai province and Nhon Hai photovoltaic farm with a capacity of 35MW in Ninh Thuan province of Vietnam.
Chu Ngoc Solar Power Plant started operation in June 2019. Meanwhile, Nhon Hai Photovoltaic Farm started commercial operations in July 2020.
Thailand-based Banpu Company said that under a 20-year power purchase contract with Vietnam Electricity Corporation, electricity from the two solar farms mentioned above is sold at a tariff of $0.0935/kWh.
Under the agreement, the share purchase was made through BRE Singapore Pte, a subsidiary of Banpu, and energy technology arm Banpu Next Co.
This transaction is expected to be completed in the second quarter of this year.
Kirana Limpaphayom, CEO of Banpu Plc, was quoted by Bangkok Post as saying that the purchase of these two new solar power plants comes after Banpu owns the first solar farm in Vietnam- Ha Tinh solar power plant located in Ha Tinh province with a capacity of 50MW for $23.9 million.
Banpu’s representative also said that the acquisition of Ha Tinh energy company will be completed in the first quarter of 2022.
In mid-2018, Vietnam broke ground on Dau Tieng 1 and Dau Tieng 2 solar power plants in Tay Ninh province. This is considered the largest solar power plant project in Vietnam and Asia signed by Xuan Cau Company of Vietnam and Thai partner B. Grimm Power Public Co., Ltd. at the Conference at the 8th Economic Cooperation Strategy Summit that took place in Thailand.
Thoibao.de (Translated)
