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B.Grimm signs PPA for 420-MW solar project in Vietnam

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B.Grimm signs PPA for 420-MW solar project in Vietnam


September 6 (Solar) – Thai company B.Grimm Power PCL (SET:BGRIM) has signed a deal to sell the output of a 420-MW solar park in Vietnam to local utility Electricity of Vietnam (EVN).

The power purchase agreement (PPA) is for a project in Tay Ninh, southwestern Vietnam, which is expected to be commissioned by June next year, B.Grimm said in a bourse statement on Thursday. The Tahi firm in July bought a 55% stake in Dau Tieng Ninh Energy JSC, the developer of the 420-MW scheme for THB 1.13 billion (USD 34.5m/EUR 29.6m). Vietnamese conglomerate Xuan Cau Co Ltd owns the remaining 45% interest.

The photovoltaic (PV) park will receive a feed-in-tariff (FiT) of USD 0.0935 (EUR 0.0804) per kWh for 20 years. Once completed, it will be the largest of its kind in the Association of Southeast Asian Nations (ASEAN), B.Grimm said previously.

(THB 10 = USD 0.345/EUR 0.262)

(USD 1.0 = EUR 0.860)


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