Thai company plans to acquire three solar farms in Vietnam

October 07, 2020 | 11:28

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WHA Utilities and Power (WHAUP), which provides utilities under WHA Corporation, Thailand's biggest industrial land developer and operator, is planning to acquire three solar farms under its new asset acquisition plan in Vietnam, as reported by Bankok Post.

thai company plans to acquire three solar farms in vietnam

WHAUP plans to acquire three solar farms of 50-250MW in Vietnam

WHAUP chief executive Niphon Bundechanan said the company is approaching solar farm operators to negotiate deals to acquire their facilities for operations with capacities ranging from 50 to 250MW.

He did not disclose the ownership proportion of the new assets, saying only that his company plans to be a majority shareholder or full owner. Investment value was not revealed. The company expects to close the deals early next year.

These assets are excluded from WHAUP's capital expenditure figures, according to Bankok Post.

This year, WHAUP earmarked nearly ฿400 million ($12.47 million) in capital expenditure to expand capacity of its rooftop solar panels by 15MW, up from 50MW.

Niphon said that WHAUP is planning the second-phase development of its Chonburi Clean Energy (CCE), a developer and operator of waste-to-energy power plants, after seeing the growth of industrial areas in the Eastern Economic Corridor. The plant, which has operated since last November, has 8.6MW capacity.

For the water business, WHAUP is planning the second-phase development of two tap-water supply facilities in Hanoi and in Cua Lo, Vietnam. The company acquired these two assets last year.

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