Gunkul Engineering buys 50-MWp solar project in Vietnam

• Thailand-based Gunkul Engineering Pcl (BKK: GUNKUL) has gotten the owner of the project lorry holding a 50-MWp solar park in Vietnam's Thua Thien-Hue province.

Gunkul Engineering claimed in a bourse filing on Monday it has paid USD 39.9 million (EUR 33.3 m) to become the owner of Vietnam-based Doan Son Thuy Investment JSC (DST), which is behind the Phong Dien II scheme in Hue. The 100% interest was bought from 3 existing investors of the Vietnamese entity-- 49% of the shares were acquired from Bangjak Green Energy Carbon Monoxide Ltd, while the staying 51% were bought from two individuals.

The Phong Dien II plant is due to start business operations on December 15, 2020. It will certainly be connected to the electrical energy network of Vietnam Electricity (EVN) and will operate under a 20-year feed-in tariff (FiT) contract of USD 0.0709 per kWh.

Gunkul's CEO Sopacha Dhumrongpiyawut was pointed out as claiming by the Bangkok Post that the purchase remains in line with the firm's strategy to expand its solar service in Southeast Asia, and also in Vietnam particularly, as it looks for to come to be a major gamer in the renewables field. In February, the Thai firm obtained two solar parks in Vietnam totalling 60 MWp.