B.Grimm Power Plc (BGRIM), an energy developer with the largest capacity in the small power producer segment, expects to finalise 2-3 acquisitions of power generation assets in the first half of this year.
Nopadej Karnasuta, BGRIM's chief finance officer, said the deals involve renewable power facilities overseas, with electricity generation capacity of 200-300 megawatts.
The company has allocated 70 billion baht of capital spending for this year. It includes a budget to acquire new assets across Asia.
Mr Nopadej said BGRIM is in talks with companies to purchase several power plants, but he declined to name them.
The move is part of the company's business expansion plan, to be implemented between 2022 and 2030, using a budget of 250-300 billion baht.
BGRIM aims to increase its power generation capacity to 7.2 gigawatts by 2025, and to 10GW by 2030, up from 3.05GW at present.
Renewable power will make up 30% of the total capacity.
In another development, BGRIM and True Corporation Plc have agreed to merge their expertise to jointly digitalise energy businesses, in a move to build a smart energy system which is more efficient and environmentally friendly.
The two companies signed a memorandum of understanding yesterday.
The cooperation will enable BGRIM to benefit from True's 5G network to create innovations that will boost efficiency in power management and clean energy development.
This will not only help drive the Thai economy but also create value for society and the environment, said Harald Link, BGRIM's president.
The move is in line with BGRIM's strategy of developing various business models to support digital transformation through cooperation with local and international partners.
BGRIM wants to create long-term growth and become a world-class energy producer, Mr Link said.
Natwut Amornvivat, co-president of True Corporation, said working with BGRIM offers an opportunity to expedite the transformation of Thailand's energy business into a truly digital age.