Banpu Public Company Limited (BANPU) announced that on 1st December 2021, BRE Singapore Pte., Ltd (BRES), a subsidiary company of Banpu NEXT Co., Ltd, (in which BANPU and Banpu Power Public Company Limited (BPP) equally held 50% shareholding) entered into a Sale and Purchase Agreement (SPA) for the acquisition of 100% of Ha Tinh Solar Power Joint Stock Company, that owned 50 MW Ha Tinh operating Solar farm, located in Ha Tinh Province, Vietnam. The purchase consideration is approximately USD23.9 million or approximately THB788 million. The transaction remains subject to certain adjustments, conditions precedents outlined in the SPA and customary approvals with completion expected to take place in 1Q of 2022.
The Ha Tinh Solar Power plant has been fully operational since 13th June 2019 and is entitled to the Feed-in-Tariff (FIT) of US cents 9.35/kWh. The facility supplies electricity through the national grid system under a Power Purchase Agreement with Vietnam Electricity (EVN) for a period of 20 years.
Inclusive of this project, BANPU has a renewable business portfolio located in Thailand, Japan, China, Australia, Vietnam, and others across Asia Pacific Region. The total generation capacity has reached 1,128 MW on Equity-base capacity, under which had been COD for a total of 880 MW. BANPU will continue pursuing its portfolio transformation under the Greener & Smarter strategy by seeking investment opportunities to achieve the growth target under the Energy generation business of 6,100 MW in 2025 focusing on markets with attractive growth and supportive government policy.
BANPU certifies that this investment is not a connected transaction and does not trigger the reporting requirement for the acquisition of assets of listed companies under the Notification of Capital Market Supervisory Board.