BGRIM Sets to Achieve 10,000 MW Milestone within 2027, Advancing to Invest in PP and M&A

B.Grimm Power Public Company Limited (ฺBGRIM) has announced that, on 28 November 2019, B.Grimm Solar Power 1 Co., Ltd. (a 100% subsidiary of BGRIM) entered into a joint venture with Sok and Eung Sts Investment Co., Ltd. to establish a new company in Cambodia for real estate development in order to support the development of renewable power projects in Cambodia.

Sisophon Clean Power Co., Ltd, the new subsidiary in Cambodia, established with a registered capital of KHR 134,000,000 or equivalent to approximately THB 991,600, divided into 1,000 shares with a par value per share of KHR 134,000.

In this joint venture, BGRIM will hold a 49% stake while Sisophon Clean Power will hold a 51% stake.

 

Mrs. Preeyanart Soontornwata, President of BGRIM, has revealed that the company had set a budget for an investment and M&A in domestic and international power plants of approximately 20,000 million baht. The objective is to continuously expand BGRIM’s production capacity.

Furthermore, BGRIM is having 2-3 deals on hand to negotiate for an investment in power plant with a production capacity of 100-200 MW in each plant. It is expected that further detail and agreement on the deals will be settled around mid-2020. BGRIM will also proceed to sign further agreements overseas such as the Wind Power Plant Project in South Korea and a Gas-fired Power Plant in Malaysia in the beginning of 2020.

The company expected to reach a total installed capacity of 10,000 MW within 2027 from a total installed capacity of 2,896 MW at the end of 2019 which contributed from a total of 49 projects.

Mrs. Preeyanart also stated that the mid-term objective is to reach a total installed capacity of 5,000 MW within 2022 in which BGRIM is confident in achieving the target.