Border guards

The deal will serve as a beachhead for Tenaga in the Vietnamese solar market

In a filing to Bursa Malaysia today, TNB said this acquisition extends TNB’s collaboration with Sunseap, beyond the Malaysia and Singapore cross-border partnership, to capture the rapid growth in the Vietnamese renewable energy market, as reported by The Malaysian Reserve .

The acquired project has secured the Feed-in Tariff (FiT) 2 rates in Vietnam. Having achieved commercial operation date in December 2020, all five plants are under 20-year Power Purchase Agreements (PPAs) with EVN to supply clean energy to the national grid.

Sunseap currently holds a 90 per cent stake in the projects, which will be reduced to 51 per cent upon completion of the 39 per cent stake acquisition by TNB Renewables slated for the first quarter of this year. Sun Times Energy JSC, an existing shareholder of the project, will continue to own 10 per cent equity interest in the project, according to TNB.

“This acquisition will serve as a beachhead for TNB to establish a local presence in Vietnam and expand into the rapidly growing renewable energy and utility market in Vietnam. This acquisition builds on our earlier Malaysia-Singapore cross-border collaboration with Sunseap and demonstrates our commitment in transforming TNB into a regional renewable energy and utility player,” said TNB’s president and CEO Datuk Ir. Baharin Din.

By TNB

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According to the ministry’s report, one of the new patients is a 43-year-old Chinese expert who arrived at the Tan Son Nhat International Airport in Ho Chi Minh City on February 19. He was sent to a quarantine area in Binh Duong Province upon arrival and tested positive for SARS-CoV-2 on March 4. He is being treated at the Binh Duong Provincial General Hospital.

Five other patients are Vietnamese people who recently entered the country through Ha Tien Border Gate in the southern province of Kien Giang and Moc Bai Border Gate in Tay Ninh Province. They were also sent to local quarantine areas upon arrival and are now being treated at local hospitals.

With these new infection cases, the number of Covid-19 patients in Vietnam has increased to 2,494, including 879 locally-transmitted cases reported since the new outbreak started in Hai Duong on January 28. Hai Duong Province alone has recorded 695 cases.

As of 6 pm on March 5, a total of 1,920 Covid-19 patients had recovered and been discharged from hospital. There have been 35 deaths, most of them being the elderly with serious underlying diseases.

At present, nearly 50,000 people who had close contact with Covid-19 patients or returned from virus-hit areas are being monitored at hospitals, quarantine facilities, and at home.