Engineering, Procurement and Construction (EPC) contracts together with related financing documents to advance and broaden the solar power plant have just been signed by BIM Group and its partner, Philippines-based AC Energy, Ayala Corporation’s energy arm in Ninh Thuan province, Vietnam.
According to the contract, BIM Group plays a dominant role as it is the majority shareholder with controlling interest. The Group has also completed a credit agreement with an international bank with the purpose of securing a loan over $200 million.
The main purpose of these contracts is to increase the solar farm size from 30MWp to 280 MWp. It is also planned to be further expanded to above 300MWp.
As planned, this project will be put into operation on time in June 2019. Upon the completion of the project, this solar power plant will be the biggest one in the Southeast Asia, which is anticipated to produce 545 million kWh of clean electricity per annum.
Bouygues Energies & Services và Juwi are selected as EPC contractors of these projects.
Previously in this January, BIM and AC Energy started developing BIM 1 solar power plant in Phuoc Minh commune.
Recognised as one of the leading business groups in the country, BIM’s operations are focused on four main business sectors, including tourism development and real estate investment, agriculture-food, commercial services, and renewable energy.