BGRIM clinches solar power supply deal with EVN

Corporate October 12, 2018 01:00

B Grimm Power (BGRIM) has clinched an agreement to supply electricity from its solar photovoltaic (PV) farm in Phu Yen Province, Vietnam, to Electricity of Vietnam (EVN), the largest power company in the country.



The conclusion of the 20-year agreement yesterday in Hanoi, in the presence of BGRIM Chairman Harald Link, has solidified the viability of the 257 MW PV scheme in the country’s south central coast.

“The [agreement] has secured the future for the Phu Yen project which will help drive our income generation and capacity equity growth,” said BGRIM President Preeyanart Soontornwata.

When it starts commercial operation in June next year, Phu Yen will enhance BGRIM's 2019 revenue by 15-20 per cent and contribute to the company's target to increase it installed capacity to 3,100 MW in 2022.

The sales of electricity to EVN is at US$9.35 /KWh (Bt507) for 20 years with the commercial operation date (COD) set on June 30, 2019.

The ground-mounted PV solar farm in Phu Yen is one of the larger systems of its kind in Vietnam and its output will be fed to EVN's national grid.

SET-listed BGRIM, through subsidiary B Grimm Renewable Power 2 Co, earlier this year acquired an 80 per cent stake in Phu Yen TTP Joint Stock Company.

BGRIM is actively pursuing power ventures in Vietnam with current combined generation equity at 677 MW.

Phu Yen is one of the large scale projects approved by Ministry of Industry and Trade of Vietnam in line with the republic's policy to promote environmentally-friendly energy over the next two decades.

At present, BGRIM operates a total of 33 power plants, 15 of which are of co-generation, 15 solar, two hydro-power and a diesel-fuelled, with a combined generating capacity of 2,220 MW.

MERCEDES–BENZ

Veteran takes the helm at Thai unit

Daimler AG appointed Roland Sebastian Folger as the new president and chief executive officer of Mercedes-Benz (Thailand) Limited, effective October 1, 2018.

Prior to the post, Folger was president and CEO of Mercedes-Benz Malaysia Sdn Bhd from 2011 to 2015, and managing director/CEO of Mercedes-Benz India from 2015 to September 2018.

TRAVEL TECHNOLOGY 

AirAsia in collaboration with Google Cloud 

AirAsia is working with Google Cloud to integrate machine learning and artificial intelligence (ML/AI) into every aspect of its business and culture as part of its transformation into a travel technology company. 

AirAsia Group CEO Tony Fernandes said, “AirAsia has been at the forefront of adopting new digital technologies since our inception in 2001. We are now in our next phase of development where we are expanding beyond air transport and digitalising our operations and processes to become more efficient.

“Google Cloud enables us to make full use of the data we own, opening up new opportunities and enabling us to build new businesses. We are building two big platforms: airasia.com, which will be our one-stop digital travel platform where our customers can book their travel needs from flights, accommodation, tours, ground transport to entertainments; and BigLife, our lifestyle site which will be like Kayak, Tripadvisor, Groupon and eBay rolled into one. BigLife will incorporate all the digital investments under our digital arm RedBeat Ventures, such as our money app BigPay, our inflight connectivity platform ROKKI, our online marketplace Ourshop and our logistics services RedBox and RedCargo. Both platforms will help drive much more business into AirAsia with the help of data.”

AirAsia will work with Google Cloud to solve high-impact business challenges, including: drive better demand forecasting and more targeted marketing, improve customer experience and loyalty by providing a more personalised experience for its customers, and maximise operational efficiency and reduce risk through predictive maintenance, real-time weather forecasting and crew optimisation.

 

MOBILE GAMES

True’s TAI to make debut with INVICTUS

True Corp is taking a significant step to expand its presence in the fast-growing game industry in Southeast Asia and around the world, making its debut with INVICTUS mobile game, developed by True Axion Interactive (TAI), a joint venture between True Corp and Axion Venture from Canada.

Birathon Kasemsri Na Ayudhaya, True Corporation Plc's Chief Content & Media Officer, said that TAI brought in international talents from the US, Canada, Germany, Italy, Russia and China ,together with a developed local team, to form a highly capable workforce to create world-class game studio that is ready to export new game products from Thailand.

So far, about 97 per cent of games available in the region were imported intellectual properties. With the debut of INVICTUS, he expects that INVICTUS will place Thailand in the forefront of the global game market with its premium production quality and set higher standard for the industry.

Nithinan Boonyawattanapisut, TAI's Chief Executive Officer, said INVICTUS game will be opened for a preview at Thailand Game Show 2018 on October 26-28 at the Royal Paragon Hall, Siam Paragon. The official launch is expected in the first quarter of 2019.

Currently, TAI has over 85 developers, and plans to make 3 mobile and 1 PC-online games within the next 24 months, she said.

CAPITAL MARKET 

Asean regulators launch key initiatives 

The Asean Capital Markets Forum (ACMF) met in Singapore on Thursday and launched two key initiatives to drive a more connected and sustainable Asean capital market. 

The ACMF launched a framework to facilitate cross-border movement of investment advisers, which will allow Asean investors greater access to professional services. 

The first phase of the ACMF Professional Mobility Framework is the introduction of the “ACMF Pass” which will allow licensed professionals to provide advisory services within participating Asean jurisdictions, with fast-track registration and no additional licensing requirements. 

Malaysia, Philippines, Singapore and Thailand are the first countries to participate in this initiative, to be followed by other countries in due course. The four regulators signed a memorandum of understanding, at the 2nd Asean Capital Market Conference, an ACMF initiative hosted by the Monetary Authority of Singapore in collaboration with the Asian Development Bank (ADB).

The ACMF continues to place emphasis on sustainable finance and launched the Asean Social Bond Standards (Asean SBS) and the Asean Sustainability Bond Standards (Asean SUS)2. 

The standards are intended to enhance transparency, consistency and uniformity of Asean green, social and sustainability bonds.

 

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