B.Grimm Power Pcl (BGRIM) has acquired a 49.9% stake in South Korean green energy developer KOPOS Co for US$3.5 million.
The move marks a growing regional presence by Thailand's leading industrial power producer.
The deal with KOPOS, a developer of wind and solar photovoltaic energy with a combined capacity of 95.78 megawatts in South Korea, is subject to regulatory approval from South Korean authorities.
Harald Link, chairman and president of BGRIM, said that being a stakeholder in KOPOS means his firm is playing a significant part in developing wind power and solar energy in South Korea.
The transition to cleaner energy is in line with the South Korean government's climate change policy, which has focused on driving the country towards the net-zero carbon emissions target and reaching carbon neutrality by 2050.
Currently, BGRIM is pursuing its sustainable clean energy programme through long-term supply agreements with governments in Thailand and abroad.
The move aims to provide highly efficient and stable electricity and utilities, which are the cornerstones of economic growth in many countries.
The firm now operates 50 power plants in Thailand and overseas. It is working to ramp up the overall installed capacity from 3,058MW at the end of 2020 to at least 7,200MW by 2025 and 10,000MW by 2030 with targeted annual revenue of more than 100 billion baht.