Thailand's Banpu and its power business arm Banpu Power have joined forces to acquire the operating Mui Dinh Wind Farm in Ninh Thuan province (Photo courtesy of the company)Bangkok (VNA) - Thailand’s Banpu and its power businessarm Banpu Power (BPP) have joined forces to acquire El Wind Mui Dinh, an onshorewind farm in the south-central province of Ninh Thuan, in a deal worth 66 millionUSD.
Local media on August 5 quoted Banpu CEO Somruedee Chaimongkol as sayingthat the transaction will be completed in the fourth quarter.
The investment was made through BRE Singapore, a subsidiary of Banpu Next,in which Banpu and BPP each hold 50 percent.
El Wind Mui Dinh comprises 16 wind turbines, each of which produces 2.35MWof electricity from wind at an average speed of 6.6 metres per second.
Chaimongkol said Ninh Thuan is a hub in Vietnam for renewable energy resources,generating 80 percent of the country’s renewable power.
El Wind Mui Dinh has been operating since April last year and is entitledto a feed-in tariff of 8.5 US cents per kWh for up to 20 years.
She explained that wind power supply in Vietnam is regulated under powerpurchase agreements with the State-run Electricity of Vietnam (EVN).
This latest asset acquisition is aimed at achieving Banpu’s goal of havinga total renewable energy capacity of 814MW.
She said Vietnam has significant potential in renewable energy because itsgovernment is seeking new investment to reach the targeted 7,000MW from wind powerby 2025./.
