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Banpu acquires wind farm in Vietnam as part of plans for greener future

Aug 03. 2020
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By The Nation

Banpu Public Co Ltd, a leading integrated energy solutions company in 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 US$66-million (Bt2.06-billion) acquisition, subject to adjustments outlined in the sales and purchase agreement, was made through BRE Singapore, an associate company in which Banpu holds a 50 per cent share through Banpu Next.

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 since April 23, 2019, at a capacity of 37.6 megawatts. 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.

Somruedee Chaimongkol, chief executive officer of Banpu Public Co Ltd, 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.

Somruedee Chaimongkol, chief executive officer of Banpu

Recently, Vietnam government approved 7 gigawatts 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.

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