Thailand’s B.Grimm will invest $1.5 billion in regional energy
Thai multinational corporation B.Grimm is becoming a regional power player. Last week, the company would invest roughly $1.5 billion this year in expanding its business around the region, with about half of the funds going to energy generation projects in both renewables and fossil fuels.
The investments highlight the role Thailand’s private sector is playing in building the Kingdom’s energy security and aiding the transition towards renewables. It also demonstrates how Thai companies are helping spur growth and development in Southeast Asia and beyond.
B.Grimm President Harald Link said the company would spend a significant portion of the investment budget acquiring existing power-generating firms. B.Grimm is one of the biggest players in the small power producer (SPP) segment of the energy market.
Aside from acquisitions, the firm is also building power plants. Link said that in 2021, the company plans to add 900 megawatts to its existing power generation capacity of 3,682MW, including 624MW from facilities under construction.
He said the firm planed to announce two purchase agreements in the near future: one for a power plant in Thailand, with a 300-360MW capacity; and another for a plant in Malaysia with 200-250MW.
In renewables, B.Grimm also plans to buy wind farm projects licensed by the governments of South Korea and Viet Nam. Three other green energy projects Link said would begin operations this year were a 16MW wind farm in Thailand’s Mukdahan province, a 15MW solar farm at U-Tapao airport in the Eastern Economic Corridor (EEC), the advanced 3-province development zone just east of Bangkok, and a solar farm in neighboring Cambodia.
The company is also involved in rooftop solar panel projects in Thailand and the Philippines, with a combined capacity of 30MW.