BGRIM entered into Power Purchase Agreement with Electricity of Vietnam

Energy Press Releases Friday September 7, 2018 09:44
Bangkok--7 Sep--B.Grimm Power
The Thai-Vietnamese joint venture led by B.Grimm Power Plc (BGRIM) has concluded a 20-year contract to supply electricity from its 420 MW solar farm project in Vietnam to Electricity of Vietnam (EVN).

The accord, signed in Hanoi on September 5, secured the viability of Dau Tieng 1 and 2 photovoltaic power facilities in Tay Ninh, south-west of Vietnam, which have a total installed capacity of 420 MW, the largest of its kind in Southeast Asia.

The power purchase agreement culminates a series of agreements associated with it finalised earlier with EVN and other Vietnamese agencies which cover grid connection, SCADA/EMS (DMS), metering and load dispatch information system.

"This accord is a very important element assuring the long-term vitality of the project," said BGRIM President Preeyanart Soontornwata.
It has also committed to June 30, 2019 commercial operation which confident of achieving, she added.
The solar power is priced at 9.35 US cent/kWh throughout the 20-year contract.
EVN was mandated by the Prime Minister of Vietnam on April 11, 2017, to off-take the entire electrical output from the project.

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

BGRIM has a 55% stake in the scheme with Xuan Cau Holdings owning a 45% interest.
Mrs Preeyanart added site preparation for the project has been completed and installation of PV panels will get underway soon.
BGRIM currently operates 32 power plants in Thailand and overseas, 14 of which are co-generation, 15 solar, 2 hydropower and a diesel-fuelled, with a combined generating capacity of 2,000 MW.
A host of additional power plants, with a total of capacity of more than 1,200 MW, are under construction.

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