B.Grimm completes acquisition of 80% stakes in 48 MW Huong Hoa 1 wind project

Thai conglomerate B.Grimm Power PCL has completed the acquisition of the majority stakes in Huong Hoa Holding Joint Stock Company, the developer of the 48 MW Huong Hoa 1 wind farm project located in Quang Tri province of Vietnam. 

B.Grimm has acquired an 80% stake for VND 161 billion (US$7.1 million) while the remaining 20% is held by Truong Thanh Energy and Real Estate Joint Stock Company (TEG), a unit of TTVN Group.

The wind farm has signed a power purchase agreement (PPA) with Vietnam's state-owned power company Electricity of Vietnam.

B.Grimm and TEG will start the development of the project by 2022.