Banpu Pcl, a leading integrated energy solutions company in the Asia-Pacific, is acquiring the El Wind Mui Dinh Wind Farm, which marks a key milestone in the company’s long-term investment in Vietnam.
The $66 million acquisition, subject to adjustments outlined in the sales and purchase agreement, was made through BRE Singapore Pte Ltd, an associate company in which Banpu holds a 50 per cent share through Banpu Next Co Ltd (BanpuNEXT).
Banpu secured a feed-in-tariff of $0.085/kWh for a period of 20 years in a power purchase agreement with Vietnam Electricity.
The El Wind Mui Dinh Wind Farm went into commercial operation on April 23, 2019, at a capacity of 37.6MW.
Its 16 wind turbines, each with a capacity of 2.35MW, are designed and maintained by Enercon Partner Konzept (EPK), a leading wind-power company and turbine manufacturer.
Banpu has a 20-year full-comprehensive maintenance services agreement with Enercon GmbH, a leading wind power company and turbine manufacturer from Germany.
The location of El Wind Mui Dinh Wind Farm in Ninh Thuan province on the coast ensures high-wind speed, and together with the Vietnam government’s supportive policy, 80 per cent of the country’s renewable power is generated in the province.
Banpu CEO Somruedee Chaimongkol said investment in the wind asset in Vietnam is a testament to Banpu’s continuous commitment to a greener, smarter future.
She added that the El Wind Mui Dinh Wind Farm will help expand the company’s portfolio of renewable energy and generate more revenue and cashflow.
Recently, the Vietnamese government approved 7GW of new wind projects to be built and by 2025, the country is looking at a total wind-power generation capacity of nearly 12GW.
The Banpu Group aims to achieve a power-generation capacity of 6,100MW within 2025 by focusing on markets with growing power demand with BanpuNEXT spearheading the development of renewable energy and energy technology.
Inclusive of the El Wind Mui Dinh Wind Farm, the company’s total committed capacity of renewable business will be reaching 814MW.