BGrimm Power takes big stride as regional energy player with opening of Vietnam solar energy project

Cambodia Construction News Vietnam

The largest solar farm project in Southeast Asia, built by Thailand’s B.Grimm Power Plc, opened on Saturday (September 7) [By Somluck Srimalee, The Nation – Tay Ninh, Vietnam]
BGrimm Power takes big stride as regional energy player with opening of Vietnam solar energy project

07 September 2019

Two senior members of the Vietnamese Politburo – Vo Van Thurong, head of propaganda and training commission, and Nguyen Van Binh, head of the economic commission — presided over the opening of the 420 megawatt solar photovoltaic (PV) power facilities, known as Dau Tieng 1 and Dau Tieng 2 (DT1 and DT2) in Tay Ninh, southwest of Vietnam.

General Anantaporn Kanjanarat, a former Thai Energy Minister and now senator, B.Grimm Group chairman Harald Link, BGrimm Power CEO Preeyanart Soontornwata and guests of honour from Vietnam and Thailand attended the opening ceremony of the 420MW project.

The opening follows the successful operation of DT1 and DT2 on June 3 and June 13 this year, respectively, when their output began to be delivered to Electricity of Vietnam (EVN), the buyer, on a commercial basis.

Link said the Dau Tieng 1 and Dau Tieng 2 project represented one of B Grimm Power’s big strides to become a leading regional player in the energy sector and a host of investments are afoot.

He said the B Grimm Group has been a pioneer in infrastructure and utilities in Thailand for over 141 years.

B Grimm Power, the group’s flagship subsidiary and one of Thailand’s largest private power producers, has been active for over 20 years in meeting the energy needs of Thai industry, he said.

Vietnam, he noted, possesses high investment potential with GDP growth of 6-7 per cent per year. The country also is seriously supporting renewable energy development.

According to Preeyanart, the sales of power from the Dau Tieng 1 and Dau Tieng 2 scheme, at 9.35 US cent/kWh tariff (approximately Bt3) throughout the 20-year supply contract with EVN, are becoming a sustainable contributor to B Grimm Power’s long-term revenue stream.

Along with the Phu Yen TTP, another solar PV project in Vietnam built by B Grimm Power with 257MW generating capacity went on stream on June 10 this year. A total of 677MW from solar PV projects provided Bt181 million in revenue to the company in June alone, she added.

The combined capacity of B Grimm Power’s solar PV projects in Vietnam resulted in a 40 per cent boost in the company’s total generating capacity from the beginning of the year as well as ramping up renewable energy in its overall portfolio to 30 per cent from 8 per cent.

Meanwhile, B Grimm Power is proceeding with the construction of a 5MW industrial waste-to-energy facility in Thailand with commercial production slated to begin in December this year.

The facility will bring the total number of B Grimm Power plants in commercial operation at the year-end to 46.

They comprise 17 co-generation plants, 24 solar PVs, three hydro-power, plants, one industrial waste-to-energy project and a diesel generation a total capacity of 2,896MW.

The increase in electrical output and sales from these power plants will allow B Grimm Power to raise its 2019 revenue by 15-20 per cent over the previous year as planned. B Grimm Power is pursuing further investment in power plant projects in many countries, including Vietnam, South Korea, Cambodia and the Philippines.

The company is also involved in rooftop solar power programmes both at home and abroad.

This participation and ongoing investment form part of B Grimm Power’s drive for a sustainable and quality growth to have 5,000MW in power purchase accords in place by 2022.