Thai renewable power firm B.Grimm investing in Europe
B.Grimm, one of Thailand’s fastest-growing power producers, has marshaled roughly $200 million to invest in renewable power plants in Europe, in another example of Thailand’s private sector starting to spread it wings around the world.
B.Grimm Power, which is part of the larger B.Grimm conglomerate, has built and operates more than 20 power plants in seven countries in Asia and one in Europe. The company has the largest energy-generating capacity among Thailand’s small power producers.
Siriwong Borvornboonrutai, BGRIM’s Executive Vice President for Finance and Accounting said that the firm is aiming to develop power plants in Europe with a combined capacity between 100 and 150 megawatts.
The firm has already acquired two companies on the continent: RES Company Sicilia, an Italian renewable energy developer and operator, and Visa Max Solar to develop the 14.1MW Zel 1 wind power project in Poland.
Siriwong added that the company is aiming to generate 50 percent of its power through renewables in a corporate strategy dubbed “Green Leap.” As part that strategy, B.Grimm’s target is to increase total power capacity to 10 gigawatts within 2030, up from 3.34 gigawatts now.
The company is prepared to invest about $2 billion to achieve that goal. As part of that, the firm will boost capacity through four assets acquired in South Korea: three offshore wind farms and one onshore wind farm.
B.Grimm was founded by a German and an Austrian pharmacist as the Siam Dispensary in 1878. One of the earliest companies incorporated in Thailand, it steadily expanded into numerous businesses including infrastructure development, real estate, healthcare and lifestyle and digital businesses.
Photo courtesy of https://www.bgrimmpower.com/th/power-plants/project-highlights