BIM GROUP SCALES UP VIETNAM SOLAR PROJECT TO BECOME THE LARGEST IN SOUTHEAST ASIA
Posted Date August 14, 2018
Hanoi, Vietnam, August 2018 - BIM Group in partnership with AC Energy, Ayala Corporation’s business arm in the energy sector, signed EPC and financing documents to jointly develop the BIM Solar Power Plant in Ninh Thuan province, Vietnam. The plant is expected to commence operation in June 2019.
Early this year, the first BIM Energy project broke ground with a total land area of more than 35 hectares, equipped with the latest advanced technologies for high efficiency. The above contracts increase the solar farm size from 30MWp to 280 MWp. The joint venture plans to further expand the capacity to well over 300MWp. Upon completion, the solar farm will become the largest one in Southeast Asia and is expecting to generate 545 million kWh of clean electricity annually. Bouygues Energies & Services and Juwi are chosen as EPC contractors of these projects.
BIM Group is the majority shareholder with controlling interest. The corporation has completed the credit agreement with an international bank in order to secure a total loan amount of more than US$200 million.