October 11 (Renewables Now) - Thai company B.Grimm Power PCL (SET:BGRIM) said on Wednesday it has signed a power purchase agreement (PPA) for a 257-MW solar project in Vietnam.
B.Grimm in August acquired an 80% stake in the project, which is located in Phu Yen province.
According to a stock exchange statement yesterday, the project company, Phu Yen TTP Joint Stock Company, has signed a PPA with Electricity of Vietnam (EVN) and will get at feed-in tariff (FiT) of USD 0.0935 (EUR 0.081) per kWh over 20 years. The solar park is expected to start operations by June 30, 2019.
In September, B.Grimm signed a deal to sell the output of a 420-MW solar park in Vietnam to EVN. It earlier bought a 55% stake in the developer of the 420-MW scheme, while Vietnamese conglomerate Xuan Cau Co Ltd owns the remaining 45% interest.
(USD 1 = EUR 0.865)