Gulf acquires 100MW wind farm project in Vietnam
Gulf Energy Development Plc’s subsidiary, Gulf International Holding Pte Ltd (GIH), entered into a share purchase agreement with Vietnamese entrepreneurs Nguyen Tran Thao Nhi and Tran Thi Minh Trang to acquire a 100-per-cent stake in Dien Xanh Gia Lai Investment Energy Joint Stock Company (DGI), according to its filing with the Stock Exchange of Thailand today.
DGI is the developer and operator of two Onshore Wind Farm Projects – la Pech 1 and 2 – which have a contracted capacity of 50 megawatts each.
Both projects will generate and sell electricity to Vietnam Electricity (EVN) for 20 years. Gulf is expected to spend approximately US$200 million (Bt6.2 billion) on building the project. Construction will begin in 2021 and the projects should start commercial operation by the fourth quarter of 2022.
