GUNKUL Buys 2 Solar Plants with 60MW Installed Capacity in Vietnam Worth ฿1.87bn

Gunkul Engineering Public Company Limited (GUNKUL) announced that the subsidiary company Bright Green Power Company Limited has entered into an investment transaction in the solar power plant project in the amount of 2 projects with a total capacity of 60 megawatts, namely the Tri Viet 1 Solar Power Plant Project and the Bach Khoa A Chau 1 Solar Power Plant Project in Tay Ninh province, Vietnam, by purchasing all ordinary shares of Singapore An Yang Pte. Ltd. and Singapore Yun Yang Pte. Ltd., which is the ultimate shareholders of the Project, with the investment value of each project at the amount of USD 30,300,000.00. The total amount is USD 60,600,000.00 or equivalent to Baht 1,867,389,000.00.

Investing in the Tri Viet 1 and the Bach Khoa A Chau 1 solar power plant project in Vietnam, which produces and distributes electricity from solar power to Vietnam Electricity, which is in accordance with 2 power purchase agreements, total of 60 megawatts installed, with the purchase rate of Feed-in Tariff at USD 0.0935 per unit for a period of 20 years and has started to commercial electricity distribution since 28th May 2019.

The acquisition of An Yang and Yun Yang’s ordinary shares for the purpose of investing in a solar power plant in Vietnam, which has started to sell electricity commercially. This will help expand the GUNKUL’s base of operations in Southeast Asia and also promote the growth both in terms of assets and operating results. GUNKUL is able to recognize income and returns from the power plant operations immediately after investing.

The investment in the solar power plant project in Vietnam is considered the implementation of the GUNKUL’s policy of becoming a leader and has an important part in driving the power plants from renewable energy both domestically and internationally which the Company foresees that this is a business group with high growth potential and has low risk from operations. As well as, being able to create a stable source of income for the group in the long run.