Thailand-based Banpu Public Company Limited (Banpu), an energy company, has acquired two solar parks with a combined capacity of 50 MW in Vietnam. The acquisition is worth USD 26.7 million and includes the 15 MW Chu Ngoc solar park in Gia Lai and the 35 MW Nhon Hai photovoltaic (PV) farm in the Ninh Thuan province.

The two power facilities will be purchased by BRE Singapore Private Limited, a subsidiary of Banpu and will take possession of the two project vehicles including the Licogi 16 Gia Lai Investment Renewable Energy and Licogi 16 Ninh Thuan Investment Renewable Energy. The acquisition is subject to certain adjustments and customary approvals and is due to be completed in Q2 2022.

Both plants receive feed-in tariffs (FiTs) of USD 0.0935 per kWh and will supply the solar energy generated to state-utility Vietnam Electricity (EVN) under 20-year power purchase agreement (PPA).