Thai energy firm Gunkul has bought the Tan Chau solar plant in southern Vietnam for over $47 million, its fourth such acquisition this year.
The company, formally Gunkul Engineering Public, purchased a 99.9 percent stake in Tan Chau Energy Jsc, which operates the 50 MWp plant, from Singapore’s Sungrow Power. The remaining 0.1 percent is owned by two Vietnamese individuals.
The plant began operations in October with a 20-year selling price of 7.09 U.S. cents per kWh.
The purchase is set to expand Gunkul’s operations in Southeast Asia and promote its growth in an industry which it considers low risk with high potential, the company said in a statement.
Earlier this month, Gunkul said it has acquired the 50 MWp Phong Dien II solar power plant in the central province of Thua Thien-Hue for $39.9 million.
In February, it had spent $60.6 million on two power plants in the southern province of Tay Ninh with a total capacity of 60 MW. Read More..