Thailand’s B.Grimm Power buys majority stake in 48-MW wind project in Quang Tri province, Vietnam
Thai group B.Grimm Power PCL (BKK:BGRIM) has closed the acquisition of an 80% stake in a Vietnamese vehicle developing a 48-MW wind farm project in Vietnam.
The company said it paid VND 161 billion (USD 7.1m/EUR 6.3m) to gain majority interest in Huong Hoa Holding Joint Stock Company, a 100% owner of a Huong Hoa 1 wind project located in Quang Tri province. The project is developed under a power purchase agreement (PPA) with state-owned power company Electricity of Vietnam, the Thai group said.
The remaining 20% stake is held by Truong Thanh Energy and Real Estate Joint Stock Company (TEG), part of Vietnam-based TTVN Group.
In the fourth quarter of 2021, B.Grimm and TEG will start coordination to implement the wind project, TEG said separately.
TEG and B.Grimm previously partnered on the 257-MWp Hoa Hoi solar plant project, which has been in operation since mid-2019.
(VND 1,000 = USD 0.044/EUR 0.039)