B.Grimm Power Public Company Limited (BGRIM) announced that the company has entered into the Memorandum of Understanding (MOU) with the Provincial Electricity Authority (PEA) and PEA ENCOM International Co., Ltd. (PEA ENCOM) (a company under PEA group) to jointly study for the new business opportunities with cooperation in both technical and financial aspects.
These include expansion of service area by Small Power Producer (SPP) projects to serve more number of potential industrial users, increasing the electricity supplying efficiency for private sector by the direct supply to end users or the Independent Power Supply (IPS), renewable project expansion, and jointly exploring the Microgrid and Smart Microgrid System which would strengthening BGRIM’s leading position and competitiveness in the power industry.
This cooperation is also expected to provide the potential cost saving in future investment in transmission lines and other facilities with total value of no less than THB 1,000 million including the initial cost saving of THB 315 million in B.Grimm Power (AIE-MTP) project, together with the enhancement in both customer coverage and service efficiency.
In addition, as BGRIM believes in the importance of strong business partner especially with the strength in electricity transmission and distribution network system to enhance the competitiveness in the Map Ta Phut area, on 30 September 2020, B.Grimm Power Service (Laem Chabang) Limited (a subsidiary of BGRIM), which held 75% of total shares in B.Grimm Power (AIE-MTP) Limited (BPAM) (formerly known as, Glow SPP1 Company Limited) while Asia Industrial Estate Co., Ltd. holds 25% of total shares in BPAM, transferring 5% of its shares in BPAM to PEA ENCOM for THB 200 million.
After such share transfer, B.Grimm Power Service (Laem Chabang) Limited will hold 70% of total shares in BPAM. This transaction has been proceeded in accordance with the resolution of the Board of Directors’ Meeting No. 10/2020 held on 13 August 2020.