BIM Group, AC Energy sign for 280MW solar project in Vietnam
Vietnamese investment and development company BIM Group has partnered with AC Energy, the power arm of the Ayala Group, for the development of a solar plant in Vietnam.
The organisations have now signed EPC (engineering, procurement and construction) contracts and financing documents for the development of the BIM Solar Power Plant in Ninh Thuan province, according to an announcement by BIM. The project is set to commence operation in June 2019.
At present, the project has a peak output of 30MW, and the new contracts are set to increase this to 280MW.
This will make the BIM plant the largest solar farm in Southeast Asia, and it is expected to generate 545mn kWh of clean energy per year.
EPC contractors for the project have been named as Bouygues Énergies & Services, a French multinational industrial group; and Juwi, a German renewable power company.
BIM Group will be the majority shareholder of the project. BIM currently has operations across several sectors from tourism and real estate to agriculture and renewable energy. It currently employs over 7,000 people.
AC Energy is the energy platform of Ayala, which is one of the largest companies in the Philippines. AC Energy currently has over $1bn invested and committed to renewable and thermal energy.