Southeast Asian M&As gathering momentum, Photo Shutterstock Most recently, Thailand-based Banpu Pcl. acquired the El Wind Mui Dinh Wind Farm in the south-central province of Ninh Thuan. The purchase with a value of about $66 million is subject to customary approvals and conditions precedents, with completion expected to take place in the fourth quarter. The investment was made through associate company BRE Singapore Pte., Ltd. (BRES), in which the Thai company holds 50 per cent of shares through Banpu NEXT Co., Ltd. For this project, Banpu secured a feed-in tariff of 8.5 US cents per kilowatt-hour for a period of 20 years, in accordance with the power purchase agreement with Electricity of Vietnam. Somruedee Chaimongkol, CEO of Banpu said, “The investment in wind in Vietnam is a testament to Banpu’s continuous commitment to our greener and smarter strategy. The El Wind Mui Dinh Wind Farm is our latest addition that helps expand the company’s portfolio of renewable energies and generate more revenue and cashflow for Banpu.” Thai investors are the most active in Vietnam’s mergers and acquisitions (M&A) market. As such, ThaiBev – one of Asia’s largest beverage companies – spent nearly $5 billion in 2017 acquiring stakes in Vietnam’s… Read full this story
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