Newly appointed president and chairman of B.Grimm Power Plc (BGRIM), Harald Link, has announced a 50-billion-baht capital spending campaign next year for power generation business expansion.
Mr Link, who has also served as chairman of B.Grimm Group, succeeded Preeyanart Soontornwata, who the BGRIM board recently appointed as vice-chairwoman and director of the executive committee of BGRIM.
The budget supports new and ongoing development projects, as well as asset acquisition plans in fossil fuel-based and renewable energy in Thailand and Asia, he said.
Investment in new projects will increase BGRIM's power generation capacity by 1,000 megawatts, up from 3,089MW at present.
BGRIM set a target of 7,200MW across Asia-Pacific by 2025.
Major 2021 investment projects include capacity expansion at B.Grimm Power Asia Map Ta Phut Co, the new name of Glow SPP 1 Co after it was acquired by BGRIM last year. The new capacity is scheduled to increase from 124 to 280MW.
The money will also go to development of seven new gas-fired power plants, worth 40 billion baht. The facilities, with a combined capacity of 980MW, are scheduled to begin operations between 2022 and 2023.
Mr Link said BGRIM is also negotiating to acquire several gas-fired power plants in Thailand and Malaysia.
The company reported to the Stock Exchange of Thailand yesterday it has invested in the renewable energy business in Cambodia through its subsidiary, B.Grimm Solar Power 1 Co, which owns 100% shares in Ray Power Supply Co.
A ground-mounted solar farm, with a capacity of 39MW, in Serie Saophoan, Banteay Meanchey province, has been developed by Ray Power Supply.
It recently started operations under a 20-year power purchase agreement made with Cambodia's state-owned Electricite Du Cambodge.
"In Vietnam energy policymakers are considering giving the company the green light for our business to import liquefied natural gas [LNG] as a fuel for power plants," said Mr Link. "They are also considering approval for wind farm-based power generation projects in the country."
The firm is also negotiating a new development licence for wind farm assets in South Korea.
In Thailand, BGRIM expects its 16MW Bo Thong Wind Farm Co in Mukdahan in the Northeast to start operations in the first quarter of next year.
Mr Link said the firm is preparing for additional LNG imports for its new investment next year under the captive independent power supply. In May, BGRIM was granted an LNG shipping licence from the Energy Regulatory Commission to import 650,000 tonnes per year. Mr Link declined to give details of the additional LNG import.