BGRIM and Xuan Cau ink JV pact for ASEAN#s largest solar power plant

Energy Press Releases Tuesday June 19, 2018 10:05
Bangkok--19 Jun--BGRIM
The plan to set up the largest solar power house in Southeast Asia has advanced towards realisation with two sponsors - Thailand's B.Grimm Power and Xuan Cau of Vietnam - signed a partnership accord.

The landmark agreement for the 420-megawatt facility in Tay Ninh, south-west of Vietnam, was concluded by executives of the Companies in Bangkok and witnessed by Thai Prime Minister Prayut Chan-o-cha and his Vietnamese counterpart Nguyen Xuan Phuc.

The accord underscores the joint venture partners' commitment to start commercial operation from the Tay Ninh project next year.
The project got off to a good start and we are on track to meet the COD (commercial operation date) in June 2019," said Preeyanart Soontornwata, CEO of SET-listed B.Grimm Power Plc (BGRIM).
The joint venture has recently finalised a deal with a contractor to perform engineering, procurement and construction (EPC) for the project.
Talks are also underway with several local and international financial institutes for project funding, she said.
For BGRIM, the Vietnamese solar power venture will contribute significantly to the group's revenue and earnings growth.
In particular, it will help driving revenues from its overseas power projects committed by BGRIM to account for 30% of its overall income in 2022 from 6% currently.

The Tay Ninh scheme is a robust collaboration between BGRIM, a leading private power producer in Thailand, and Xuan Cau Co, Ltd, one of the largest conglomerates in Vietnam, whose diverse businesses range from real estate to trading & service, and from energy to infrastructure.


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