SET-listed B.Grimm Power (BGRIM), an energy developer with the largest capacity in the small power producer segment, has forged a venture with energy innovation firm Innopower Co to promote clean energy projects, including electric vehicle (EV) infrastructure development.
The two companies did not elaborate on the EV-related project, saying only they will work together to develop an "ecosystem" for battery EVs, part of efforts to help the government reduce carbon dioxide emissions and avoid the severe impact of climate change.
Collaboration in the EV sector is among projects to be carried out under a memorandum of understanding (MoU) recently signed by BGRIM and Innopower, a subsidiary of state-run Electricity Generating Authority of Thailand.
The MoU will support the government's goal of achieving carbon neutrality -- a balance between carbon dioxide emissions and absorption -- by 2050, as well as a net-zero target -- a balance between greenhouse gas emissions and absorption -- within 2065, said Nopadej Karnasuta, BGRIM's senior executive vice-president for investment, innovation and sustainability.
The National EV Policy Committee announced in March 2021 it wants EVs to constitute 50% of locally made vehicles by 2030, part of an ambitious plan to make Thailand a regional EV hub.
Under the MoU, BGRIM and Innopower will jointly develop power generation technology that can reduce greenhouse gas emissions and search for solutions to help businesses better manage their power consumption.
A focus on clean energy is in line with BGRIM's plan to achieve a net-zero target within 2050, said Mr Nopadej.
Caring for the environment meshes with the company's business expansion plan to increase power generation capacity to 10 gigawatts by 2030, up from 3.3GW last year, he said.
Athip Tantivorawong, chief executive of Innopower, said the collaboration will also pave the way for support of renewable energy development under the Renewable Energy Certificate (REC) concept.
REC is an economic incentive aimed at encouraging power plant owners to produce electricity from clean fuels.
Each REC, which certifies the bearer generates one megawatt-hour from renewable energy resources, can be traded as an energy commodity.