Solar Power Project BIM 1

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The project entails the construction and operation of a 30-MWp solar plant located in Phuoc Minh commune, province of Ninh Thuan. It will be equipped with more than 90,000 solar panels and produce 50 million kWh a year. The project is a cooperation between BIM Group and AC Energy, a subsidiary of Philippines’ Ayala Group. The solar plant will be officially connected to the national grid by the third quarter of 2018. The plant is being constructed by Conergy Asia & ME. Electricity generated by the plant will be supplied to the national grid under a long - term PPA. Total investment cost is estimated at $35.2 million. As of July 2018, no debt financing was reported. Construction started on 24th of January, 2018. In 2019, IFC agreed to $75 million in the total $300 million 5-year green bond issuance by AC Energy which will be applied towards AC’s investments for the development of wind and solar energy, one of which is BIM 1 project under construction. http://english.vov.vn/economy/bim-group-kicks-off-35million-solar-power-project-in-ninh-thuan-367331.vov http://nangluongvietnam.vn/news/en/nuclear-renewable/starting-construction-of-solar-power-project-bim-1.html http://en.qdnd.vn/economy/news/work-starts-on-bim-1-solar-power-plant-489225 https://disclosures.ifc.org/#/projectDetail/ESRS/40227