The Gulf Energy Development PLC of Thailand has purchased two wind power farms of 50 MW capacity each worth $200 million in Vietnam.
The company entered into a share purchase agreement with Dien Xanh Gia Lai Investment Energy Joint Stock Co (DGI), the developer and operator of the two onshore wind farm projects. The projects, located in Ia Grai district of Gia Lai province, will be wholly owned by Gulf International Holding Pte (GIH) with a license to develop and operate the wind farms. The projects will generate and sell power to Vietnam Electricity for 20 years and are expected to start generation in 2021.