B.GRIMM Power Public Company Limited (BGRIM) has signed the Power Purchase Agreement (PPA) with Electricity of Vietnam (EVN) to process the Solar Power Plant project with 257MW installed capacity in Phu Yen Province, Socialist Republic of Vietnam to increase 15-20% of its revenue and to reach the target set at 3,100MW capacity in 2022.
Mrs. Preeyanat Soontornwata, president/director of BGRIM, said that the PPA had been signed on October 10, 2018 in Hanoi, Vietnam. Chairman Mr. Harald Link, Director Mr. Surachai Saibua, Mr. Veerapol Tungsuwan, Bangkok Bank Executive Vice President Ms. Niramarn Laisathit, and herself also joined this signing ceremony with the agreement of feed-in tariff of 9.35 USD cent per kWh for the period of 20 years.
As of now, the construction has already begun, which is according to the scheduled commercial operation date of the project that is expected to be within June 30, 2019.
This project will increase BGRIM’s targeted income by 15-20% in 2019 of its investment in solar power plants in Vietnam. The investments were approved by the Ministry of Industry and Trade, following the plan of producing last-long renewable energy, and environmental friendly for the country.
Moreover, BGRIM has been constantly entering in the agreement for further investments in renewable energy in Vietnam, and seeing a lot of opportunities for its business as the demand for electricity is continually increasing.
Currently, BGRIM has the total capacity of 677MW in Vietnam, and the total of 33 power plants worldwide, divide into 15 combined-cycle power plants, 15 solar power plants, 2 hydroelectric power plants, and 1 diesel power plant with total capacity of 2,220MW. While another 900MW in total will be added in 2018-2022, making BGRIM to reach 3,100MW in total capacity by 2022.