UPDATE - Banpu to pay USD 66m for Vietnamese wind park

Thai energy company Banpu PCL (BKK:BANPU) today confirmed it has agreed to buy a 37.6-MW wind park in Vietnam, saying it will pay USD 66 million (EUR 55.9m) for the asset.

Banpu, through BRE Singapore Pte Ltd, which is equally owned by the company and its unit Banpu Power PCL, will buy the El Wind Mui Dinh plant in Ninh Thuan Province. The facility has been operating since April 2019 under a 20-year power purchase agreement (PPA) with Vietnam's state-owned utility EVN. The contract was signed at a tariff of USD 0.085 per kWh.

The transaction is expected to close in the final quarter of 2020. It will be financed equally by the internal cash flow of Banpu and Banpu Power.

The buyer noted that with this purchase, the total committed renewable energy capacity under Banpu Next Co Ltd, equally owned with Banpu Power, will reach 814 MW.

(USD 1.0 = EUR 0.847)

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