Illustrative image (Photo: VNA) Hanoi (VNA) – Thai firms are stepping up investment in renewable energy projects in Vietnam, particularly solar power, through merger and acquisition (M&A) deals. B.Grimm Power Pcl has registered to invest 216.7 million USD in the Hoa Hoi solar power project in the central province of Phu Yen, the fourth largest foreign-invested project in Vietnam so far this year. Vo Cao Phi, Director of the provincial Department of Planning and Investment, said this will transform the share structure of B.Grimm Power Pcl and Vietnam’s Phu Yen TTP JSC. Last year, the Thai group spent 32.5 million USD buying up to 80 percent of stake at Phu Yen TTP JSC – the investor of the 257 MW plant in Phu Yen, which is expected to be put into operation in June 2019. In April 2019, the Export-Import Bank of Thailand (EXIM Thailand) also extended 65 million USD in credit to Eastern Power Group Pcl and Communication & System Solution Pcl to finance … [Read more...] about Thai investors beam capital into solar power projects in Vietnam
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French bank named financial adviser for Ke Ga wind power project
The Ke Ga offshore wind power project is expected to have total capacity of 3,400MW, making it the world’s biggest project of its kind at present (Illustative photo: VNA) Hanoi (VNA) – French bank Société Générale has been chosen to be the financial adviser for the initial phase of the Ke Ga offshore wind power project – the world’s biggest project of its kind at present. An agreement on this effect was recently inked between the UK’s Enterprize Energy – the project’s investor – and Société Générale. The Ke Ga offshore wind power project is planned to cover 2,000sq.km. of water surface about 20 – 50km from the coast of the south central province of Binh Thuan. It is expected to have total capacity of 3,400MW. Founder and Chairman of Enterprize Energy Itan Hatton said to help accelerate the provision of low-cost energy from offshore wind power for Vietnam, his firm has invited … [Read more...] about French bank named financial adviser for Ke Ga wind power project
More Chinese contractors buy solar power projects in Vietnam
VietNamNet Bridge - More and more solar power projects have kicked off in Vietnam, especially in the central region, by Chinese contractors. More than 120 solar power projects have been added to the national power development plan Power China, for example, won the bid to become EPC (engineering, procurement, construction) contractor of the Vinh Tan 2 Solar Power Plant, belonging to Vinh Tan 2 Solar Power project implemented under the joint name of Sinohydro Corporation Ltd and Power China Kuming Engineering Corporation Ltd Consortium. It also got involved in the DMS-8 package on the design, supply, installation and testing of photoelectric equipment of Da Mi Solar power plant and a package deal at Song Bun 4 hydropower plant in Quang Nam province. More and more solar power projects have kicked off in Vietnam, especially in the central region, by Chinese contractors . According to Pham Pho, former rector of the Sai Gon Economics & Polytechnic Junior College, … [Read more...] about More Chinese contractors buy solar power projects in Vietnam
B.Grim acquires Phu Yen solar power project for $35.2million
B. Grimm Power Plc. has completed the $35.2 million acquisition of solar photovoltaic power project in Vietnam as part of the expansion of its portfolio of overseas renewable power projects. One of B.Grim's solar power projects in Thailand B.Grim, through subsidiary B Grimm Renewable Power 2 Ltd., has acquired an 80 per cent stake in Phu Yen TTP JSC, the project company investing and developing a 257MW PV scheme in Phu Yen province on the south central coast of Vietnam. The purchase of 80 million shares in Phu Yen TTP is part of SET-listed B.Grim's rapid expansion of power generation equity in Thailand and overseas. Phu Yen will particularly contribute to B.Grim's growing renewable power portfolio as well as strengthening its presence in Vietnam, according to B.Grim president Preeyanart Soontornwata. Also in June, B.Grimm has teamed up with one of the largest Vietnamese conglomerates, Xuan Cau Group, to develop the biggest solar power plant in Southeast Asia, with a combined … [Read more...] about B.Grim acquires Phu Yen solar power project for $35.2million
BGRIM acquire VN solar power project for $35.2m
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 … [Read more...] about BGRIM acquire VN solar power project for $35.2m
Ministry rejects Vung Ang 2 thermal power project
Ministry rejects Vung Ang 2 thermal power projectThe Saigon Times Daily HCMC – The Ministry of Planning and Investment has written to the Ministry of Industry and Trade, OneEnergy Asia Limited and Vung Ang Thermal Power Co., Ltd, refusing to grant an investment certificate to the Vung Ang 2 thermal power project as conditions have not been met, news website VnEconomy reported. According to Government Decree 63/2018/ND-CP on public-private partnership (PPP) investment, authorities shall not issue investment certificates for projects executed under the PPP model, said the ministry. In addition, many conditions for the project, including investment capital, land, and environment impact assessment have not been met, according to the ministry. The investor had earlier proposed using 94.6 hectares of land for the project, which is not in line with the Ministry of Industry and Trade’s decision to allocate only 86 hectares of land for the project. The project’s … [Read more...] about Ministry rejects Vung Ang 2 thermal power project
Binh Dinh approves US$63 million solar power project
In the first phase, a 50MW solar plant will be built over 60ha of land on the southern side of Phuong Mai mountain in the Nhon Hoi economic zone. — Photo baodautu.vn The Chairman of the People’s Committee of the south central province of Binh Dinh on Tuesday approved a proposal for a solar power project in Phu My District. People’s Committee Chairman Ho Quoc Dung gave the green light to the VND1.44 trillion (US$63.36 million) project, which will be situated in Tra O lagoon in My Chau Commune. The project will be constructed thanks to an investment from the Viet Nam Renewable Energy JSC, and will be spread out over 60ha of water and 0.6ha of land. The plant, which has a design capacity of 50 MWp, is scheduled to be completed and become operational by the end of the second quarter of 2019. It is expected to contribute to the national grid by helping satisfy local demand for power and facilitating the development of industry and service, transforming the economic … [Read more...] about Binh Dinh approves US$63 million solar power project
Binh Dinh approves 63-million-USD solar power project
Illustrative Image (Source: VNA) Binh Dinh (VNA) – Chairman of the People’s Committee of the south central province of Binh Dinh Ho Quoc Dung on June 12 approved a proposal of a solar power project worth 1.44 trillion VND (63.36 million USD) in Tra O lagoon in My Chau commune, Phu My district. Invested by the Vietnam Renewable Energy JSC, the project uses 60 hectares of water surface and 0.6 hectares of land. The plant, which has a design capacity is 50 MWp, is scheduled to be completed and become operation at the end of the second quarter of 2019. The project is expected to contribute to the national grid, meeting local demand of power and facilitating the development of industry and service, thus transforming the economic structure of the locality. Earlier in April this year, construction of a Japanese-funded wind and solar power project began in Binh Dinh’s Quy Nhon city. The 100MW project is invested by the Fujiwara Binh Dinh Co. Ltd., which said it is … [Read more...] about Binh Dinh approves 63-million-USD solar power project
Bac Lieu refuses thermal power project
The Mekong Delta province of Bac Lieu has rejected the proposed Cai Cung thermal power plant project in a bid to protect the environment for high-tech shrimp farming. (Source: VNA) Bac Lieu (VNA) – The MeKong Delta province of Bac Lieu has rejected a project to build Cai Cung thermal power plant, saying that it wants to become a national centre of renewable energy and a large producer of shrimp farming. The Japanese-invested project was expected to improve Bac Lieu’s gross domestic product (GDP) rapidly, just as existing Duyen Hai thermal power plant has done in the neighboring province of Tra Vinh, experts said. Since the Duyen Hai thermal power plant began operation, Tra Vinh province’s GDP has increased from 6 percent to 12 percent. Duong Thanh Trung, Chairman of Bac Lieu province’s People’s Committee, said that, even with the latest technology and equipment, the plant would have caused environmental problems as it would require a big area for … [Read more...] about Bac Lieu refuses thermal power project
Thai company pours $1.76 billion into Vietnamese wind power projects
Thailand’s largest solar energy company, Superblock Pcl., plans to invest $1.76 billion to install 700 megawatts (MW) of wind farms in Vietnam. Vietnam currently has a wind power capacity of 140MW and is planning to reach 6,000MW by 2030The first phase of the investment will cost about $650 million and consist of three near-shore farms with 142MW of capacity in Bac Lieu, 98MW in Soc Trang, and 100MW in Ca Mau province, all in southern Vietnam.The second phase (360MW) will also be built in these three provinces and construction will begin when the first phase concludes.Jormsup Lochaya, chairman of Superblock Pcl. said that the construction of these projects has already begun and expects the sites to be operational by 2020.Vietnam’s population is very young and the growing economy and industries will increase power consumption by 10 per cent annually, making it an important market.“Ho Chi Minh City and Hanoi have similar problems and Vietnamese people want clean and … [Read more...] about Thai company pours $1.76 billion into Vietnamese wind power projects