Thai company acquires solar power facility in Vietnam

Illustrative image (Photo: VNA)

Bangkok (VNA) - Banpu Power Plc (BPP), the power generation arm of non-oil energy conglomerate Banpu Plc, has acquired Ha Tinh Solar Power JSC in a deal worth 23.9 million USD, reported the Bangkok Post on December 3.

It has been the first time Banpu has acquired a solar power facility in Vietnam, which is aimed to support its plan to expand renewable energy business.

Ha Tinh Solar Power JSC operates a 50MW solar farm in central coastal province of Ha Tinh. The purchase deal was made through BRE Singapore Pte, a wholly-owned subsidiary of Banpu Next Co, the renewable energy and energy technology arm of Banpu Plc.

The Ha Tinh solar farm, which started commercial operation in June 2019, is given a feed-in tariff rate of 9.35 cents per kWh. It supplies electricity through the national grid system under a power purchase agreement with state-run Vietnam Electricity for 20 years.

Banpu is also planning to start commercial operation of another two renewable power projects.

The first to start will be the Shirakawa solar power project in Japan, with 10MW of installed capacity, sometime this month. The second will be the Vinh Chau wind power project in Vietnam, with a capacity of 30MW, in the first quarter of next year./.