B.Grimm Power Plc (BGRIM) has commenced commercial production from its two large solar power schemes in Vietnam with a combined total installed capacity of 677 megawatts during June 3-13, 2019.
All of BGRIM’s solar projects in Vietnam were successfully synchronized with the grid of Electricity of Vietnam (EVN), the off-taker, on June 3 for DAU TIENG 1, June 10 for Phu Yen TTP and June 13 for DAU TIENG 2.
Moreover, K. Preeyanart Soontornwata, BGRIM CEO said “It is a successful startup, right on time, to herald a new era for renewal energy scene in Vietnam and represents a new significant revenue stream for BGRIM.”
At the feed-in-tariff of 9.35 US cents per kilowatt-hour (kWh), the two solar Photovoltaic ventures will provide steady power sales revenue to BGRIM over the next 20 years. The commencement of the two solar PV projects lifts BGRIM’s total installed generating capacity already in commercial production by 31% and boosting the contribution of renewable energy in the company’s total portfolio to 30% from 10% previously.
With DAU TIENG 1-2, billed as the largest solar facility in Southeast Asia to date with a total capacity of 420 MW, and the 257-MW Phu Yen, BGRIM operates 45 power projects with a combined installed capacity of 2,892 MW.
BGRIM‘s power houses currently in production include 17 thermal, 24 solar, three hydropower and one diesel.
Additionally, BGRIM has 11 power projects under construction and development which will raise BGRIM’s total generating portfolio to 3,245 MW in 2022. Currently, BGRIM is actively pursuing expand investment opportunities both at home and abroad to achieve its mission to grow its portfolio to 5,000 MW in 2022.
BGRIM was mandated by the Vietnamese government to explore additional renewable energy investment projects. Under construction is investment in several wind power projects in Vietnam which are expected to be finalised by this year-end. Moreover, BGRIM has joined hands with alliance partners to study the feasibility of investing in many projects in South Korea, Malaysia, Cambodia, and the Philippines, both in the form of creating greenfield projects and acquisitions.