Thailand's B.Grimm Power inks two solar deals in Vietnam

One of the plants will be Southeast Asia's largest when it starts operating in 2019.

B.Grimm Power is buying an 80% stake in a 257MW solar power plant project in Phu Yen Province from Truong Thanh Viet Nam Group for US$35.2m.

It had also agreed with Vietnam's Xuan Cau Group to operate a solar farm in Tay Ninh Province that has a capacity of 420MW, making it the largest solar power plant in Southeast Asia when it starts operating in mid-2019.

At present, B.Grimm Power has a total installed capacity of 2,091MW, of which over 1,200MW are sold to more than 300 factories in six industrial parks across Thailand and Vietnam.

"We plan to increase the portion of renewable output to 30% by 2022, from 12% currently," B.Grimm Power chairman Harald Link said. 

The next country on B.Grimm's expansion plan is South Korea. It also signed with Korea Electric Power Corporation (KEPCO) a memorandum of understanding (MOU) to develop an offshore wind power farm with a capacity of 100MW.