B.Grimm solar plants in Vietnam

SET-listed B.Grimm Power has commenced commercial operations of two solar power projects in Vietnam at a combined power capacity of 677 megawatts.

President Preeyanart Soontornwata said the commencement of the two projects raises total generating capacity in commercial operations by 31% in 2019 and boosts the contribution of renewable energy in B.Grimm’s total portfolio to 30% from 10% before.

“Two projects in Tay Ninh and Phu Yen provinces have been successfully synchronised with Electricity of Vietnam’s grid as the off-taker under 20-year power purchase agreements at a feed-in tariff of 9.35 US cents per kilowatt-hour,” Mrs Preeyanart said.

Subsidiary B.Grimm Renewable Power 1 holds a 55% stake in Dau Tieng Tay Ninh Energy Joint Stock, the owner and developer of two solar units with installed capacity of 420MW in Tay Ninh province.

B.Grimm claims that 420MW Dau Tieng 1 and 2 are together the largest solar facility in Southeast Asia.

Another subsidiary, B.Grimm Renewable Power 2, holds a 80% stake in Phu Yen TTP Joint Stock, the owner and developer of the project in Phu Yen province with installed capacity of 257MW.

“We were mandated by the Vietnam government to explore additional renewable energy investment projects, and we have several wind power projects in Vietnam expected to be finalised by late 2019,” Mrs Preeyanart said.

B.Grimm operates 45 power projects with a combined installed capacity of 2,892MW.

Of the total, 24 projects are for solar power generation, which include the two new ones in Vietnam, 17 projects use thermal power generation, three use hydropower and one uses diesel.

B.Grimm has 11 power projects under construction and development, which will increase the company’s total generating portfolio to 3,245MW in 2022.

“We are active in expanding our investment opportunities both at home and abroad to achieve our mission to grow the power generation portfolio to 5,000MW in 2022,” Mrs Preeyanart said.