Multinational conglomerate B.Grimm Power Plc is aiming for growth in the renewable energy sector.
For its latest business expansion, B.Grimm Power, in collaboration with Ratch Group Plc, invested in a hydroelectric power plant project in Laos.
The move aligns with the company's "GreenLeap" strategy as B.Grimm Power has ambitions to become a leading global energy producer.
Harald Link, president of B.Grimm Power, said the company, Ratch Group and Lao World Engineering and Construction Co established a new entity named Xekong 4 Power.
The company is registered in Laos.
B.Grimm Power holds a 20% stake in the registered capital, amounting to an investment of 3.28 billion Lao kip (roughly 5.6 million baht).
Ratch Group holds the majority 60% share, while Lao World Engineering and Construction Co holds the remaining 20%.
The joint venture is involved in the development and operation of the Xekong Hydroelectric Power Plant Project 4A and 4B, boasting a combined installed capacity of 355 megawatts.
The project is situated in Xekong province in Laos.
In terms of B.Grimm Power's GreenLeap strategy, it is designed to enhance global business collaborations with both domestic and international partners, said Mr Link.
The strategic expansion of investments in renewable energy represents a milestone for B.Grimm Power, aimed at achieving a goal of surpassing a 50% share in renewable energy to mitigate the impact of natural gas price fluctuations in the long term.
The investment also signifies an extension of business collaboration, fostering alliances to broaden the scope and generate new opportunities, he said.
This approach is integral to B.Grimm Power's overarching business strategy, said Mr Link.