BGRIM acquire VN solar power project for $35.2m

Update: August, 17/2018 - 19:00
Viet Nam News

HÀ NỘI — B Grimm Power Plc has completed a US$35.2 million acquisition of a solar photovoltaic power projects in Việt Nam.

BGRIM, through subsidiary B Grimm Renewable Power 2 Ltd, has acquired an 80 per cent stake in Phú Yên TTP Joint Stock Company, the project company investing and developing in a 257MW PV scheme in the the south central province of Phú Yên.

The purchase of 80 million shares in the Phú Yên TTP, concluded on Thursday, forms part of SET-listed BGRIM’s rapid expansion of power generation equity in Thailand and overseas.

Phú Yên will particularly contribute to BGRIM’s growing renewal power portfolio as well as strengthening its presence in Việt Nam, according to BGRIM president Preeyanart Soontornwata.

BGRIM has recently completed a deal for a 55 per cent stake in the 420MW solar powerhouse in Tây Ninh, southwest Việt Nam, billed as the largest of its kind in Southeast Asia. — THE NATION\ANN/VNS