Energy developer B.Grimm Power maintains 10GW capacity goal

Construction News
Phu Yen solar farm in Vietnam operated by BGRIM. Southeast Asia is a region where the company wants to develop its renewable energy business.

Energy developer B.Grimm Power maintains 10GW capacity goal

B.Grimm Power Plc (BGRIM), an energy developer with the largest capacity in the small power producer segment, remains firm on its goal to triple electricity generation capacity to 10 gigawatts, half of which will come from renewable energy, by 2030.

The company’s current capacity stands at 3.3GW, generated by gas (75% of fuels) and renewable energy (25%).

To catch the clean energy trend, BGRIM is also conducting a feasibility study on electric vehicle (EV) charging facility management, said Nopadej Karnasuta, senior executive vice-president of BGRIM.

Pivoting to this sector would add value to the company’s power plants, he said.

A business plan for the EV sector will become clearer by the end of this year, said Mr Nopadej.

In the power sector, the company expects its capacity to increase to 4GW in the next couple of years thanks to ongoing development projects in Thailand and overseas.

Harald Link, president of BGRIM, said additional capacity will require around 400 billion baht in investment budget.

Up to 70 billion baht will come from cash from BGRIM’s business operations, while 15 billion is expected from fundraising plans, including issuing new bonds, with the rest from loans or financial support from business partners, he said.

BGRIM plans to ask for new licences to develop power plants and acquire new power generation assets, with a focus on renewable energy in East and Southeast Asia as well as Europe, said Mr Link.

He said BGRIM is in talks with partners on new gas-fired and renewable power plant projects.

BGRIM is making steady progress in its power business in Europe, said Mr Link.

Last year, the company developed a foothold in the renewable energy business in Poland, part of efforts to boost its long-term renewable energy development. BGRIM acquired a 90% share in the 14-megawatt Zel1 onshore wind farm in Poland.

The facility, which is currently under construction, is scheduled to start operations in 2025.

In East Asia, the company is looking for renewable energy businesses with high growth potential, especially in China and Japan where governments are eager to support clean energy development.

In South Korea, BGRIM invested in four wind farm projects by acquiring stakes in Jodo Wind Power Generation, Shinan-Eoui Wind Power, Cheonsa-Eoui Wind Power and Goni Gunghung, with a total value of US$4.072 million and 955MW in total installed generating capacity.