Thai glass packaging company BG Container Glass PCL plans to acquire 50 MW and 100 MW of solar capacity in Vietnam, according to a report on Bangkok Post.
On the acquisitions the company is planning to disburse between THB 1 billion and THB 2 billion. In the final quarter of 2020 a deal is expected.
The newspaper cited that chief executive Silparat Watthana Kaiser said BGC is planning to diversify its operations and is keen in investing in renewable energy mainly solar, wind and water resources.
The company owns about 67 MW of solar capacity in Vietnam and by 2022 it is looking to boost its power generation capacity to 300-400 MW.
In May, Thai energy producer Global Power Synergy PCL signed a deal to acquire the holding companies for nine solar power facilities with a combined capacity of 39.5 MW. Specifically, the company has agreed to take over NPS Star Group Co Ltd, World X Change Asia Co Ltd, PP Solar Co Ltd and TerraForm Operating (Thailand) Co Ltd. These firms hold plants located in Phichit, Suphanburi, Lopburi and Khon Kaen province that sell electricity under a 25-year contract with Provincial Electricity Authority (PEA). The existing power purchase agreement (PPA) will run until 2039-2040, according to the announcement.