10 Aug 2018
On August 10, the B.Grimm Power company from the Kingdom of Thailand signed an agreement to buy back 80% of shares in Phu Yen TTP Joint Stock Company from Truong Thanh Vietnam Group.
Currently, Vietnam is emerging as a potential destination for foreign businesses that want to invest in the renewable energy sector with many incentive policies for investors such as high electricity purchase prices and tax exemption. password. Thai energy groups have been continuously investing in solar power projects in Vietnam recently, creating a new wave of investment in the energy sector.
On August 10, the B.Grimm Power company from the Kingdom of Thailand signed an agreement to buy back 80% of shares in Phu Yen TTP Joint Stock Company from Truong Thanh Vietnam Group. Hoa Hoi solar power plant project is located in Hoa Hoi Commune, Phu Hoa District, Phu Yen Province with a capacity of 257 MW. The agreement is part of a plan to expand foreign investment through joint ventures with local partners to increase production in renewable energy by Thai energy group B.Grimm Power. This is a member of B.Grimm Group, an enterprise with over 141 years of operation in many fields such as renewable energy, infrastructure, real estate ... in Thailand, Laos, Vietnam ... Group B .Grimm has many years of investment experience in Vietnam, such as Amata Bien Hoa (since 1993), dominates the Dau Tieng Solar Power project in Tay Ninh province, with a capacity of 420MW.
The rest of the project is invested by Truong Thanh Vietnam Group (TTVN Group), an enterprise established in 2012 and operating in the fields of real estate, infrastructure and energy in many provinces in Vietnam. Up to now, TTVN Group is simultaneously implementing many energy projects such as: Cat Hiep Solar Power in Binh Dinh (50MW); Binh Nguyen Solar Power Plant in Quang Ngai (50MW); Ninh Tan solar power plant in Nha Trang (50MW) ...
The solar power project in Phu Yen with an installed capacity of up to 256Mwp with a total investment of more than 4,985 billion VND is expected to start commercial operation before June 30, 2019 when electricity prices still receive a new preferential rate of 9.35 US Cents / kWh.
At the signing ceremony, Mr. Nguyen Anh Tuan, General Director of the company said: “B.Grimm Group from Thailand is a leading energy corporation in Southeast Asia, as well as Asia. This combination helps us to gain more experience, finance as well as many other support that not all units can have. In addition, with the knowledge in Vietnam from TTVN Group, it will be a great combination to help Hoa Hoi Solar Power Plant Project be able to energize before June 30, 2019 ” .