Thai firm B. Grimm Power has extended its interest in PV in Southeast Asia by investing in a 30MW solar project to be set up in Cambodia.
The ground-mount system is slated for development in Serie Saophoan, Banteay Meanchey Province.
Company subsidiary B.Grimm Solar Power entered into a share purchase agreement to acquire all shares in Ray Power Supply Co., Ltd, with the total share value of US$300,000. The deal provides B. Grimm with the right to develop the PV project pursuant to a 20-year power purchase agreement (PPA) with national utility Electricite Du Cambodge (EDC).
The project is scheduled for completion by October 2020, although the share transfer still requires approval by the Ministry of Mines and Energy and relevant competent authorities of Cambodia.
In September, EDC held an auction for 60MW of solar in Kampong Chhnang province, which resulted in the lowest PV power purchase tariff reportedly seen in Southeast Asia to date, with a bid of US$38.77/MWh by Thai developer Prime Road.
In June, B. Grimm completed two huge solar PV projects in Vietnam, including a 420MW plant in Tay Ninh Province and 257MW installation in Phu Yen Province.