B.Grimm Power Plc (BGRIM), an energy developer with the largest capacity in the small power producer segment, is planning to spend 5-7 billion baht developing more renewable power generation facilities in Europe this year after acquiring two energy assets in Poland and Italy.
The company aims to build power plants with a combined electricity generation capacity of 100-150 megawatts, said Siriwong Borvornboonrutai, BGRIM's executive vice-president for finance and accounting.
In February, BGRIM announced it bought a 100% share in RES Company Sicilia, an Italian renewable energy developer and operator.
RES Company Sicilia is conducting a feasibility study on a solar farm project with electricity generation capacity of 100-200MW and is searching for new business opportunities in Spain, Greece and Poland.
Last year BGRIM acquired Visa Max Solar to develop the 14.1MW Zel 1 wind power project in Poland.
The asset acquisitions are part of BGRIM's long-term target to increase total power capacity to 10 gigawatts within 2030, up from 3.34GW at present, under the firm's "Green Leap" strategy.
It expects to have renewable power make up 50% of total electricity generation.
BGRIM will allocate capital spending worth 70 billion baht to increase its electricity capacity between 2023 and 2030.
Additional capacity includes electricity to be supplied by four acquired assets in South Korea: three offshore farms and one onshore wind farm.
The assets, with a combined capacity of 1.03GW, are scheduled to start commercial operations during 2025 to 2027.
Ms Siriwong said the company is also planning to expand its solar power business in Vietnam after it made a 6.9-million-baht investment in Vietnam-based Lotuscom Llc.
Lotuscom runs a rooftop solar power business, with industrial estates being among its target customers.
BGRIM also established a new subsidiary, Amata B.Grimm Vietnam Co, in order to operate its rooftop solar power business in Vietnam.
In Thailand, BGRIM participated in an auction for a 5.2GW renewable power scheme, regulated by the Energy Regulatory Commission (ERC).
The company's 25 power projects qualified for the final section.
The ERC will announce the winners in April.
Commercial operations of selected projects under this renewable power scheme are expected to take place from 2024 to 2030.