The power generation arm of Thailand’s oldest industrial conglomerate, B. Grimm, has partnered with Vietnamese construction company Xuan Cau to construct the biggest solar energy plant in Southeast Asia at a price of $420 million.
B. Grimm Power Public Company CEO Preeyanart Soontornwata said the deal was signed last week in Bangkok within the presence of Prime Minister Prayut Chan-o-cha and Vietnamese Prime Minister Nguyen Xuan Phuc.
post office in Bangkok reports Xuan Cau Group is one in all the biggest conglomerates in Vietnam, operating a wide selection of companies similar to real estate, trade and services, energy and infrastructure.
According to Nikkei Asia ReviewThe 420-megawatt solar energy plant can be positioned in Tay Ninh in southwestern Vietnam. Commercial operations are scheduled to start in June next 12 months.
“The project has started well and we are on track to achieve COD (commercial launch date) in June 2019.” Preeyanart said.
For B.Grimm Power, a reliable local partner should help the investment run easily.
It hopes that the Vietnamese solar enterprise will contribute significantly to the group’s revenue and profits as energy demand in Vietnam grows rapidly because the economy grows.
VIETNAM plans to greater than triple the quantity of electricity produced from renewable sources and push for a 26 percent increase in household solar energy consumption by 2030, Prime Minister Nguyen Xuan Phuc said Reuters within the interview.
Vietnam will “increase electricity generation from renewable sources from approximately 58 billion kWh (kilowatt-hours) in 2015 to 101 billion kWh by 2020 and 186 billion kWh by 2030.” – said the Prime Minister.
