B.Grimm Power PCL acquires 55% stake in 420 MW solar project in Vietnam
B.Grimm Power PCL has acquired a 55% stake in a 420 MW solar project in Tay Ninh, south-west of Vietnam for THB1.13 billion (USD34 million).
Through a joint cooperation agreement with Vietnamese conglomerate Xuan Cau Co Ltd, B.Grimm bought 5.5 million shares, at THB 206.3 apiece, in Viet Thai Solar JSC from directors. The company now owns a majority stake in the project developer, Dau Tieng Ninh Energy JSC, while Xuan Cau will hold the remaining 45% of shares.
The solar photovoltaic power plant is scheduled to operate in June 2019. It is believed to be the largest solar project in the Association of Southeast Asian Nations (ASEAN). It is priced at a feed-in tariff (FiT) of USD 0.0935 per kWh for 20 years.
Country updates
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July 12, 2018
Siemens will supply the electrical engineering components needed for the project under a USD17.5 million contract
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July 05, 2018
Trung Nam Group to start building 204 MW solar project in Ninh Thuan
Trung Nam Solar Power JSC, a unit of Trung Nam Group is set to commence the construction of the 204 MW solar photovoltaic project located in Thuan Bac district, Ninh Thuan province, Vietnam....
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July 02, 2018
Ayala Corporation has signed a Memorandum of Understanding (MoU) with Vietnam's Quang Bihn province to develop the project
Ayala Corporation has signed a Memorandum of Understanding (MoU) with Vietnam's Quang Bihn province to develop the project. The 252 MW first phase will require a total investment of US$353 million
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June 19, 2018
B. Grimm Power agrees to develop largest solar project in Southeast Asia
B. Grimm Power has signed a Development Cooperation Agreement with Vietnamese conglomerate Xuan Cau to install a 420 MW solar power plant in Tay Ninh, in the south-west of Vietnam. The...
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June 14, 2018
Eqtec has signed a memorandum of understanding (MoU) to provide waste gasification technology for the project worth around EUR 20 million (USD 23.4m) for the next 12 months
