EP Budgets ฿300mn Acquiring 2 Wind Farms in Vietnam with the Total Capacity of 60MW

Eastern Power Group Public Company Limited (EP) announced the Board of Directors’ Meeting held on June 19, 2020 has considered and approved EPVN W1 (HK) Company Limited (EPVN W1), a subsidiary of EP registered in Hong Kong Special Administrative Region of the People’s Republic of China, to enter into a Share Purchase Agreement to acquire the shares in Huong Linh Fresh Energy Development Joint Stock Company (Target Company HL3) and Huong Linh Reproduce Energy Development Joint Stock Company (Target Company HL4), totaling USD 9,600,000 or approximately THB 300,672,000. Detail as follows:

 

1) EPVN W1, as the purchaser, to enter into a Share Purchase Agreement with 1) Tan Hoan Cau Corporation Joint Stock Company, 2) Mai Van Hue and 3) Tran Thi Ha My and other persons as the shareholders of Huong Linh 3 Wind Power Joint Stock Company (Project Company HL3) dated 19 June 2020 to acquire the shares in Huong Linh Fresh Energy Development Joint Stock Company (Target Company HL3), a company established in Vietnam and holding 99.8% of shares in Project Company HL3, the owner of Huong Linh 3 Wind Power Plant Project (Project HL3), a project with a total installed capacity of 30 MW.

 

2) EPVN W1, as the purchaser, to enter into a Share Purchase Agreement with 1) Tan Hoan Cau Corporation Joint Stock Company, 2) Mai Van Hue and 3) Tran Thi Ha My and other persons as the shareholders of Huong Linh 4 Wind Power Joint Stock Company (Project Company HL4) dated 19 June 2020 to acquire the shares in Huong Linh Reproduce Energy Development Joint Stock Company (Target Company HL4), a company established in Vietnam and holding 99.8% of shares in Project Company HL4, the owner of Huong Linh 4 Wind Power Plant Project (Project HL4), a project with a total installed capacity of 30 MW.

 

For the power purchase agreements in relation to Project HL3 of Project Company HL3 and Project HL4 of Project Company HL4, each of the project companies will enter into a 20-year power purchase agreement with Electricity of Vietnam (EVN) at a feed-in tariff (FIT) of USD 0.85 per unit or approximately THB 26.68.