August 17 (Renewables Now) - The energy arm of Philippine group Ayala Corp (PSE:AC) this week announced it had signed EPC contracts and financing documents for the development of certain solar projects in Vietnam under a partnership that could exceed 300 MWp.
Specifically, AC Energy and the BIM Group of Vietnam are looking to expand a 30-MWp project currently under construction to 280 MWp and even to above 300 MWp in the future. These BIM solar power plants will be built in Ninh Thuan province and are expected to enter into service in time for the June 2019 solar feed-in tariff (FiT) deadline.
AC Energy said that the entire project is estimated to cost about USD 240 million (EUR 210m) and will be financed with both equity and debt. The company will take part with a 30% voting stake and a roughly 50% economic share.
(USD 1.0 = EUR 0.877)