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B.Grimm Power allots up to B50bn on Asian acquisitions

BackFeb 20, 2021

Mr Link at the ceremony in Laem Chabang for the company's gas-fired power plants.

 

B.Grimm Power (BGRIM), an energy firm with the largest capacity in the small power producer (SPP) segment, has allocated 45-50 billion baht in capital spending this year to expand its business across Asia, mainly through asset acquisitions.

More than half of the budget will go to power generation asset purchases, based on both renewable resources and fossil fuel, said Harald Link, BGRIM's president.

In 2021, the company plans to add 900 megawatts to its existing power generation capacity of 3,682MW, including 624MW from facilities under construction.

The company targets 7,200MW by 2025.

BGRIM expects earnings before interest, taxes, depreciation, and amortisation will grow 30% this year, compared with 29% last year.

In the next few months, he said, the company plans to announce two purchase deals for a power plant in Thailand, with 300-360MW capacity, and a plant in Malaysia with 200-250MW.

The company also plans to buy wind farm development projects that were granted licences by the South Korean and Vietnamese governments. They have combined capacity of 300MW.

Mr Link presided on Friday over a foundation-laying ceremony to start construction of seven new gas-fired SPP plants, each with capacity of 140MW.

The event was held at Laem Chabang, Chon Buri.

The facilities, valued at 38.5 billion baht, are scheduled to operate during 2022-23.

One of them is located at Laem Chabang, while the others are in Rayong's Map Ta Phut, Chon Buri's Amata Chonburi and Ang Thong province, each with two plants.

BGRIM expects three other ongoing development projects to start operations this year. They are a 16MW wind farm in Mukdahan province, a 15MW solar farm at U-tapao airport and a solar farm in Cambodia.

Rooftop solar panel projects in Thailand and the Philippines have a combined capacity of 30MW.

Mr Link said the company is in talks with the Vietnamese government on running a business to import liquefied natural gas for power plants with capacity of more than 1 gigawatt.

Source : bangkokpost