B.Grimm Power signs share purchase agreement with Truong Thanh Viet Nam Group for solar project in Phu Yen
B.Grimm Power Public Company has signed a purchase agreement deal with the Truong Thanh Viet Nam Group Joint Stock Company (TTVN) for the acquisition of 80% stakes in the 257 MW solar photovoltaic project located in Phu Yen Province, Vietnam. The deal represents a USD32.5 million investment to the company.
The solar project is currently in the construction phase and has a 20-year power purchase agreement deal with the Electricity of Vietnam (EVN). The project is expected to be completed by June 2019.
With the signed deal, TTVN will be conducting a final legal, financial and accounting due diligence, and entering into material transaction agreements, i.e. the engineering, procurement and construction contract and the power purchase agreement and, is required to comply with the relevant the Securities and Exchange Commission’s regulations. Upon any progress with respect to the investment in the project, TTVN will subsequently notify the Stock Exchange of Thailand.
Country updates
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