BIM signs for largest solar plant in Southeast Asia
One of Vietnam’s leading private groups, BIM Group, will partner with Philippines-based AC Energy, Ayala Corporation’s energy arm, to develop the BIM Solar power plant in Ninh Thuan province to turn it into the largest solar power plant in Southeast Asia.
Notably, BIM Group has signed EPC and financing documents to increase the capacity of the solar power plant from 30 to 280MWp.
The joint venture plans to expand the capacity to well over 300MWp. Upon completion, the solar farm will become the largest in Southeast Asia and generate 545 million kWh of clean electricity annually.
The representatives of BIM and AC Energy at the ground-breaking ceremony of the BIM solar power plant
BIM Group is the majority shareholder with a controlling interest. The corporation has completed the credit agreement with an international bank in order to secure a total loan amount of more than $200 million.
Previously in this January, BIM and AC Energy started developing BIM 1 solar power plant in Phuoc Minh commune.
The project aims to satisfy the increasing energy demand and to replace fossil energy with more sustainable and renewable alternatives, contributing to the country’s economic development and improving living standards.
Recognised as one of the leading business groups in the country, BIM’s operations are focused on four main business sectors, including tourism development and real estate investment, agriculture-food, commercial services, and renewable energy. The group is one of the few having the capacity to meet the strict quality requirements of international partners.
AC Energy Holdings, Inc., a subsidiary of Ayala Corp., develops and operates solar, wind, and hydro power generation facilities. It has been recognised as the fastest developing firm in the Philippines. AC Energy plans to expand its operation to Indonesia and other markets in Southeast Asia.
Co-operating with AC Energy, one of the largest groups of the Philippines, is expected to help BIM realise its long-term target to generate 1,000 MW of clean energy by 2025 through these projects.
- RoK’s rural development group to invest in smart farming in Vietnam (15/07/2019)
- FDI reaches record level in four months (08/07/2019)
- Powering 220 kV Southern Sai Gon - Urban District 8 transmission line (27/06/2019)
- EVFTA Press Release - Official Announcement from the EU (26/06/2019)
- PM calls on Korean investors to expand operations in Vietnam (12/11/2018)
- E-commerce golden pass for logistics (12/11/2018)
- Hoa Phu Industrial Park - The destination of success (12/11/2018)
- Long Thanh airport’s feasibility study approved (12/11/2018)
- Renewable energy projects spur foreign investment surge (02/11/2018)
- New innovation centre to provide grounds for Vietnam 4.0 (02/11/2018)
- National Assembly set to ratify historic trade deal (02/11/2018)
- Overseas financiers outline obstacles (02/11/2018)
- Moody’s upgrades ratings on Vietnamese banks (01/11/2018)
- Foreign investors expand networks in Vietnam (01/11/2018)
- Altus Capital funded to invest in distressed Southeast Asian companies (01/11/2018)
- More FDI to reach southern region (01/11/2018)
- Foreign fashion giants set footprint in Vietnam through M&A (31/10/2018)
- Vietnam should be Samsung’s biggest global strategic hub: PM (31/10/2018)
- New-generation FTAs offer FDI firms more rights in Vietnam (31/10/2018)
- Foreign firms shift to Vietnam due to US-China trade war (31/10/2018)
- Key infrastructure projects calling for investment in HCMC (08/07/2019)
- Bac Ninh licenses 116 FDI projects in seven months (22/08/2018)
- Binh Phuoc licenses 24 projects worth $1 billion (22/08/2018)
- Hue targets $56mil in investment this year (15/08/2018)
- Hanoi seeks approval for Vingroup’s $300 million IT park (31/07/2018)
- List of Project Calling For Investment in Lam Dong Province in 2018 (31/07/2018)
- Kien Giang calls for investment in 12 resort projects (31/07/2018)
- Decree amendments open paid TV firms to foreign investment (30/07/2018)
- Vietnam: Opportunities in the Waste-to-Energy Sector (24/07/2018)
- Can Tho City seeks investment for 54 projects worth $5.4 billion (20/07/2018)
- Hoa Lac High-tech Park aims for $1 billion investment in 2018 (19/07/2018)
- Large-scale undersea tunnel to be constructed next year (19/07/2018)
- Map of industrial parks in Vietnam (23/07/2019)
- 493 Projects Invested in Nghi Son Economic Zone and Industrial Zones (09/02/2018)
- Thai Binh Strives to Attract Investment Capital of VND 5000 billion in Industrial Parks and Economic Zones (07/02/2018)
- Vinh Phuc Adds 4 New FDI Projects in Industrial Zones (07/02/2018)
- Dung Quat EZ and Quang Ngai IPs Attracted 258 Projects with a Total Investment Capital of More Than US$ 11 Billion (30/01/2018)
- Solutions to attract Investment Capital into Industrial Parks in Bac Giang Province (19/01/2018)
- Nghi Son Economic Zone and Industrial Zones Received 66 new Investment Projects (08/01/2018)