Thailand’s Gunkul Engineering spends $47 mln for second solar power plant in Vietnam

In its second solar power plant project in Vietnam – the Tan Chau solar power plant project with a total capacity of 50 MWp, Gunkul Engineering was reported to spend over $47 million on the deal.

Before the deal, INT Energy holds a 99.9 percent stake in Tan Chau Energy Company. The remaining 0.1 percent stake is divided equally between two Vietnamese people, including Chau Van Son and Tran Van Loi.

The acquisition of Tan Chau project in Vietnam will help Gunkul Engineering to expand operations in Southeast Asia and boost Gunkul's growth, it said in a statement.

The firm is realizing its goal of becoming a leading enterprise and having an important role in promoting domestic and international renewable energy projects.

Earlier, Gunkul spent $39.9 million to take over Phong Dien II solar power plant in Thua Thien – Hue Province.

The deal signed in early December included the purchase of a 49 percent stake from Bangjak Green Energy Co and a 51 percent stake from two Vietnamese individual shareholders.

► Thailand’s Gunkul spends $39.9 mln for 50MW Vietnam solar power plant