B.Grimm Group (BGRIM) has acquired 80% of Huong Hoa Onshore wind farm in Vietnam for 237 million baht.
The purchase of an 80% stake in Huong Hoa Holding Joint Stock Co, the sponsor of the 48-megawatt wind Huong Hoa Onshore wind farm in Quang Tri province, took place on Nov 16 following endorsement by the regulatory authorities in Vietnam.
Harald Link, chairman and president of BGRIM, said the acquisition demonstrates the firm's readiness to become one of the major renewable energy developers under Vietnam's Power Development Plan (PDP).
The purchase is also in line with the firm's long-term goal to become a net-zero carbon emissions organisation by 2050.
Huong Hoa Onshore wind farm is the third major renewal energy venture in Vietnam that BGRIM has engaged in as part of its green energy portfolio overseas expansion.
Its parent company, Huong Hoa Holding, previously secured a contract to supply electrical output from a wind farm in Vietnam's north-central coastal region to the Electricity of Vietnam (EVN).
The other 20% of Huong Hoa Holding is owned by Truong Thanh Energy and Real Estate Joint Stock Co (TEG), which BGRIM will continue to work alongside.
BGRIM is currently engaged in two additional large-scale solar energy projects in Vietnam: the 257-MW Phu Yen TTP solar PV project in Phu Yen and the 240-MW Dau Tieng project in Tay Ninh.
Meanwhile, BCPG Plc, the renewable energy arm of Bangchak Corporation Plc, also announced a plan to run a solar power business in Taiwan, part of the goal to become a leader in the renewable energy industry in Thailand and Asia-Pacific.
The company has renewable energy projects in Thailand, Japan, Laos, the Philippines and Indonesia. Taiwan will be its sixth business footprint.
BCPG established BCPG Formosa Co as its wholly-owned subsidiary, with registered capital of T$82 million, to oversee solar power business in Taiwan, said Bundit Sapianchai, chief executive of BCPG. Registration of the new firm is expected to be completed this year.
The move is in line with BCPG's growth plan, which is aimed to double its electricity generation capacity from 860MW within five years.
"Taiwan has the potential to develop clean energy projects as the country wants to reduce nuclear power and focus more on clean energy investments," said Mr Bundit.
Within five years, Taiwan will develop solar power facilities, with capacity of more than 13 gigawatts.
"We see this as an opportunity to expand our solar power business in Taiwan, with total capacity of more than 1GW in the next five years," said Mr Bundit.