BIM Group and AC Energy to expand 30 MW solar project in Vietnam to 280 MW

BIM Group and AC Energy, the energy-focussed arm of Ayala Corporation, have agreed to expand the BIM Energy project, which broke ground earlier this year, to 280 MWp. The solar photovoltaic power plant was initially planned to have 30 MWp capacity and span more than 35 hectares in Ninh Thuan province, Vietnam.

The partners have signed EPC and financing documents for the expanded project. Bouygues Energies & Services and Juwi have been chosen as EPC contractors. BIM Group is the majority shareholder with controlling interest. The corporation has completed a credit agreement with an undisclosed international bank for a total loan amount of more than US$200 million. 

The joint venture plans to further expand the capacity of the solar plant to well over 300MWp. Upon completion, it will be the largest one in Southeast Asia and is expecting to generate 545 million kWh of clean electricity annually. It is expected to commence operation in June 2019.