B.Grimm Power Plc (BGRIM) has completed a US$35.2 million acquisition in one larger solar

Energy Press Releases Friday August 17, 2018 13:03
Bangkok--17 Aug--B.Grimm Power
B.Grimm Power Plc (BGRIM) has completed a US$35.2 million acquisition in one larger solar photovoltaic power projects in Vietnam.

BGRIM, through subsidiary B.Grimm Renewable Power 2 Ltd, has acquired an 80% stake in Phu Yen TTP Joint Stock Company, the project company investing and developing in 257-MW PV scheme in Phu Yen province, south central coast of Vietnam.

The purchase of 80 million shares in the Phu Yen TTP, concluded on Thursday, forms part of SET-listed BGRIM's rapid expansion of power generation equity in Thailand and overseas.
Phu Yen will particularly contribute to BGRIM's growing renewal power portfolio as well as strengthening its presence in Vietnam, according to BGRIM President Preeyanart Soontornwata.
BGRIM has recently completed a deal for a 55% stake in the 420-MW solar powerhouse in Tay Ninh, south-west of Vietnam, billed as the largest of its kind in Southeast Asia.

Aadditionally,as announced before, BGRIM has recently completed a deal for a 55% stake int the 420 MW solar power project in Tay Ninh, south-west of Vietnam, billed as the largest of its kind in Southeast Asia. This project already started for construction and target to start commercial operation on June 30, 2019

BGRIM currently operates 32 power plants, 14 of which are co-generation, 15 solar, two hydropower and a diesel-fuelled, with a combined generating capacity of 2,000 MW.
A host of additional power plants, with a total of capacity of more than 1,000 MW, are under construction.
By 2022, BGRIM's combined installed power generation capacity will exceed 3,000 MW.
The Phu Yen is a ground-based PV facility and due to start commercial operation on June 30, 2019, with its electrical output sold the Electricity of Vietnam (EVN) under a 20-year supply contract.

This project is one of the larger scale solar power project approved by the Ministry of Industry and Trade of Vietnam (MOIT) which in line with the republic's policy to promote environmentally-friendly energy over the next two decades.


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