B.Grimm Power Public Company Limited (BGRIM) has set out to embark on seven power projects worth 40 billion baht in a bold move to consolidate its status as the leading private power producer in Thailand. The seven Industrial Power Producer schemes with a combined capacity of 980 megawatts have secured financial support from five major banks and construction backing from two world-class building concerns.
BGRIM Chairman Harald Link said the company has now secured all it takes to successfully realise the projects which form part of BGRIM’s plan to build a portfolio of 7,200 MW in the next several years.
The five lenders to the BGRIM projects are Bangkok Bank, Siam Commercial Bank, EXIM Thailand, Kasikornbank and Government Savings Bank. The construction of the projects will be carried out by Siemens Energy Co Thailand and Toshiba Plant Systems and Services Corporation.
Preeyanart Soontornwata, Chief Executive Officer of BGRIM, stated that five of the seven industrial power plant projects are the replacement facilities under the renewed power sale accords.
The two other schemes are new undertakings with a change of location which form part of the 25-year power sale contracts, known as PPA, concluded with the Electricity Generating Authority of Thailand (EGAT) on August 2020.
These projects are primarily aimed at developing the essential infrastructure to reliably produce quality electricity and steam supplies to promote and attract the industrial investment that will benefit Thailand’s economic growth in a sustainable manner, she said.
Meanwhile, BGRIM’s financial position remains strong with 19 billion baht in cash on hand and robust cash flows derived from operations. The financial strength is conducive to BGRIM’s investment in various projects and supporting future growth.
The company is on course to explore new energy investment opportunities at home and abroad to raise its total generation capacity to the targeted 7,200 MW.