Thailand's BCPG invests $130 million in Gia Lai wind power plants

November 26, 2024 | 15:08

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BCPG Public Co., Ltd., a leading renewable energy company in Thailand, announced it had invested $130 million in wind power plants in Gia Lai on November 25.

Thailand's BCPG invests $130 million in Gia Lai wind power plants

Thailand's BCPG has acquired shares in two wind power plants in Gia Lai. Photo: baodautu.vn

BCPG signed a share purchase agreement worth 4.5 billion baht (nearly $130 million) to invest in two wind power projects, with total production capacity of 99MW, in Gia Lai. The share purchase transaction is expected to be completed in the first quarter of 2025.

Niwat Adirek, president and CEO of BCPG, disclosed that the company had signed share purchase agreements to invest in the Che Bien Tay Nguyen Wind Power Plant project (49.5MW) and Phat Trien Mien Nui Wind Power Plant project (49.5MW).

“The investment is in line with BCPG’s strategy to expand our renewable power business and strengthen our revenue and stable returns to shareholders in the long run. After the transaction, the two power plants will start commercial operations immediately to generate cash flow for the company," Niwat said.

As reported by Bangkok Post, BCPG acquired development and operating licences for Monsoon Wind Power Plant, with a capacity of 600MW, and the associated transmission systems in 2023. The construction of the Monsoon wind farm, which will supply electricity to Vietnam's state grid, is now 89 per cent complete. The facility is scheduled to start a trial run early next year, and it is expected to be operational within the second half of 2025.

Renewables projects in Laos and Vietnam are a part of the company's Greener Diversified Portfolio project that will increase the proportion of renewable power to 70 per cent by 2030, up from 62 per cent as of September this year.

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By Thanh Van

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