BGRIM allots up to B300bn to fuel growth

Expects capacity to reach 10GW by 2030

B.Grimm Power Plc (BGRIM), an energy developer with the largest capacity in the small power producer segment, has announced it will allocate 250-300 billion baht over the next decade to further expand its power generation capacity and promising new energyrelated businesses.

New businesses include a plan to provide utility management solutions in line with a global campaign for carbon neutrality, which is aimed to achieve net zero emissions by 2050, according to BGRIM president Harald Link.

In the power segment, the company has set a goal of increasing its power generation capacity to 7.2 gigawatts within 2025 and to 10GW by 2030, up from 3.05GW at present, he said.

New capacity will come from fossil-fired and renewable power plants as well as investment in power generation assets across the Asia Pacific.

Mr Link said the planned capital expenditure does not necessarily require an increase in registered capital because there are many fund raising options, including green loan and bond issuance and the establishment of an infrastructure fund.

This year, the company expects to allocate 20-40 billion baht in capital expenditure for ongoing development projects, excluding new asset acquisition plans.

He said BGRIM will acquire power generation facilities in operation in Thailand and Malaysia, with combined capacity of 300-500 megawatts, within this year.

By 2030, he said, the company’s revenue is expected to increase to more than 100 billion baht from 44 billion in 2020.

Additional revenue will not only be generated by more power generation capacity but also such businesses as utility solutions provided for building owners, liquefied natural gas (LNG) distribution and peer-to-peer power trade on digital platforms.

Last month, BGRIM was granted permission by the Energy Regulatory Commission to increase its LNG import by not more than 550,000 tonnes per year, up from an annual allowance of 650,000 tonnes, to supply to its combined cycle power plant projects.

This year, BGRIM also plans to increase power generation capacity of B.Grimm Power Asia Map Ta Phut Co in Rayong to 280MW from 124MW.

BGRIM acquired this facility, which was previously called Glow SPP 1 Co, in 2019.

Investment will also go to the development of seven new gas-fired power plants, worth 40 billion baht.

The facilities, with a combined capacity of 980MW, are scheduled to begin operations between 2022 and 2023.

The firm expects its 16MW Bo Thong Wind Farm Co in Mukdahan in the Northeast to start operation in the third quarter this year.