Banpu to Acquire 37.6 MW El Wind Mui Dinh Wind Farm in Vietnam’s Ninh Thuan province

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Banpu to Acquire 37.6 MW El Wind Mui Dinh Wind Farm in Vietnam’s Ninh Thuan province

Acquisition is Valued at $66 million

Banpu Public Company Limited, a leading integrated energy solutions company in Asia-Pacific, is acquiring the 37.6 MW El Wind Mui Dinh Wind Farm. The acquisition is valued at $66 million. The El Wind Mui Dinh Wind Farm has been operational since April 23, 2019.

According to a company release, “The transaction remains subject to customary approvals and conditions precedents in accordance with the SPA with completion expected to take place in the fourth quarter of 2020.The investment is made through BRE Singapore Pte. Ltd (BRES), an associate company, in which the Company holds 50% of share through Banpu NEXT Co. Ltd.(BanpuNEXT). For this project, Banpu secured a Feed-in-Tariff (FIT) of 0.085 USD/kWh fora period of 20 years of the Power Purchase Agreement (PPA) with Vietnam Electricity (EVN).”

Somruedee Chaimongkol, Chief Executive Officer of Banpu Public Company Limited, said, “The investment in the wind asset in Vietnam is a testament to Banpu’s continuous commitment to our Greener & Smarter strategy. The El Wind Mui Dinh Wind Farm is the latest addition that helps expand the company’s portfolio of renewable energy and generate more revenue and cashflow from the business for Banpu. Vietnam is one of the fastest-growing economy in the world and one of the very few with growing GDP given the current global situation. Its increasing need for energy translates to even more potential opportunities for Banpu in the future. Recently, the Vietnamese government approved 7 GW of new wind projects to be built in. By 2025, the country is looking at a total wind power generation capacity of nearly 12 GW.”

“As one of the international developers to have entered the Vietnamese market, especially the strategic province for renewable project such as Ninh Thuan, Banpu is paving ways for long-term investment with an operating asset to help strengthen our existing portfolio of project under development. We are committed to building a sustainable business growth that keep space with the global and local energy trend–Decarbonization. With our total committed capacity of renewable energy, we are looking at emissions reduction of nearly 700,000 tons per year or the equivalent of over 40 million trees planted. For Banpu’s upcoming investments, we are focusing on a business that provides a stable and continuous cash-flow, upside potential and long-term value growth for our stakeholders,” added Somruedee.