BCG Energy and Leader Energy to work on renewables together

Monday, Dec 07, 2020 11:20

A virtual signing ceremony on the investment and co-development in renewable energy was held between BCG Energy and Leader Energy Pte Limited on December 5. — Photo courtesy of BCG

BCG Energy, a subsidiary of Bamboo Capital Group, and Leader Energy Pte Limited, an energy corporation headquartered in Singapore, signed an agreement on investment and co-development in renewable energy on Saturday.

The virtual signing ceremony was attended by the two companies’ leaders and representatives from KPMG Singapore and KPMG Vietnam, who are BCG Energy’s international fundraising consultants.

BCG Energy is seen as a pioneer developer in Viet Nam renewable energy industry by building a portfolio of renewable energy assets and being able to raised funds from international investors.

In 2019, the company raised US$5 million convertible bonds from Hanwha Energy. Since then, BCG Energy has raised $43.6 million under convertible bond form from Leader Energy (Vietnam) to continue to invest in renewable energy.

Last year, BCG Energy started commercial operations of two solar farm energy projects BCG – CME Long An 1 & 2 (Long An Province) with a total capacity of 40.6MW and 100.5MW, respectively.

Currently, the company is constructing a 330MW Phu My solar farm (Binh Dinh Province); and a 49.3MW VNECO solar farm (Vinh Long Province) with expected commercial operation date before December 31, 2020.

Early next year, BCG Energy will start construction of a 50MW Krong Pa 2 solar farm (Gia Lai Province).

It is also developing numerous rooftop solar projects with a total capacity of 50MW in various industrial parks in the south.

For the wind energy sector, BCG Energy owns a 550MW portfolio in Ca Mau, Soc Trang and Tra Vinh provinces. BCG Energy aims to reach 2.3GW in total capacity of energy projects installed by 2025. — VNS

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