Amata B.Grimm Power is considering building a coal-fired power plant in Malaysia to avoid a potential outcry over construction of such a plant in Thailand.
Preeyanart Soontornwata, the president and managing director, said the B.Grimm Group subsidiary is studying business expansion in the neighbouring country, taking advantage of a strong connection with Malaysian authorities.
Looser regulations on coal-fired plants in Malaysia, particularly compared with limitations imposed in Thailand, offer better opportunities, she said.
"The plan is in an initial process of pre-study," said Ms Preeyanart.
"If it goes through, electricity generated from the new coal-fired plant in Malaysia will be sold to the Electricity Generating Authority of Thailand (Egat) to feed power into the grid of Thailand's 14 southern provinces."
Amata B.Grimm also wants to diversify into other types of energy including renewables.
The company's expansion is meant to serve higher demand in line with the scheduled kick-off of the Asean Economic Community in late 2015.
Under Thailand's amended power development plan for 2012-30, the goal is to add generating capacity of 55,130 megawatts to retired capacity of 16,839 MW, raising total capacity to 70,686 MW this year from 32,395 MW in 2011.
From 2012-30, Thailand's compound annual growth rate of electricity generating capacity is forecast at 4.2% to meet demand growth in power consumption.
State-owned Egat is keen on seeking new power generating capacity from domestic and international sources to reduce a heavy reliance on natural gas.
Some 70% of the country's power supply comes from natural gas.
But other types of plants such as coal-fired and nuclear have met with resistance from local residents in areas where they would be built.
Amata B.Grimm, a small power producer, runs power plants with a combined 613 MW in industrial estates in Chon Buri, Rayong and Vietnam.
It plans to have 16 plants with total generating capacity of 2,000 MW by 2019.
Mrs Preeyanart, however, said her company will shelve its expansion plan in Vietnam due to unclear regulations.
The plan called for capacity of 120 MW in Vietnam, up from 12 MW now.
The firm is also seeking investment opportunities in other Asean members, with Laos of particular interest for a hydropower facility.
Amata B.Grimm is offering 600 million units of its Amata B.Grimm Power Infrastructure Fund (ABPIF), backed by Amata B.Grimm Power 1 and 2, to the public to raise 6.6 billion baht. The subscription period runs through Friday.