B.GRIMM Aims at ฿40 B For 2019, On Point 2,939 MW Capacity

Ms. Preeyanat Soontornwata, Chief Executive Officer of B. Grimm Power Public Company Limited, represented as BGRIM in the Stock Exchange of Thailand, has disclosed that next year the multinational conglomerate has set its crosshairs at a revenue growth of 16% to over 42 billion baht (or approximately 1.278 billion USD at 8/12/2018 exchange rates), accordingly with the company’s 5 additional power plants’ commercial operation dates (COD).

The CODs includes a 15 MW hydroelectric power plant in Laos with its COD expected in 1Q2019. Two in Vietnam with capacities of 420 MW and 257 MW, COD expected in June 2019. The Small Power Producer plant ABP1 with 166 MW, and an industrial waste fueled plant with a capacity of 5 MW are forecasted for COD by the end of next year. The total output of B.Grimm by next year’s end will total to 2,939 MW with 45 power plants CODs, from this year’s expected capacity of 2,076 with 40 CODs.

The company will also realize revenue from its three power plants in Amata City Industrial Estate in Rayong province with 130 MW production capacity each. As well as, seven projects for government agencies and agricultural cooperatives with a combined capacity of 31 MW from solar energy. The CODs for these projects are expected to be plugged in 4Q2019. Overall, operational performance is expected to continue with growth in 4Q2019 from 3Q2019 with the two projects.

 

Meanwhile, the company plans to close plants 2,3,4, in Amata City Industrial Estate in Chonburi, and B.Grimm Power LaemChabang for regular maintenance.

B.Grimm remains firm that it will be able to increase their capacity to 5,000 MW by 2022. Currently, the company’s COD of almost 3,000 MW capacity is paired with held contracts (PPA) for 3,126 MW. In achieving the target capacity, investment options in wind energy, solar, hydro, and natural gases are being studied and researched with international prospects, for example, in South Korea, Taiwan, Laos, Philippines, Vietnam, Cambodia, Malaysia, and Thailand.

The company expects to see clear investment possibilities in South Korea materialize with contracts with partners in South Korea for wind energy power plants which the company will hold stakes of no less than 50%, and will have the initial investment for generating 30 MW.

Additionally, Ms. Preeyanat stated that next week the company plans to issue Green Bonds worth 5,000 million baht, divided into 2 series of 5 years and 7 years, with a 4-4.5% interest rates to reduce the company’s financial load from interest costs at 4.6%. New capital costs are expected this upcoming 2019.