BGRIM puts B40bn industrial power projects on launch pad
BGrimm Power Plc (BGRIM) is pumping Bt40 billion into seven new power projects with the aim of cementing its status as Thailand’s leading private power producer.
The seven Industrial Power Producer schemes with combined capacity of 980 megawatts have secured financial support from five major banks and will be built by two international constructors.
BGrimm chairman Harald Link said everything was in place to complete the projects, which form part of the company’s plan to build capacity to 7,200MW in the next few years.
The five lenders to the BGrimm projects are Bangkok Bank, Siam Commercial Bank, EXIM Thailand, Kasikornbank and Government Savings Bank.
Construction will be carried out by Siemens Energy Co Thailand and Toshiba Plant Systems and Services Corporation.
Preeyanart Soontornwata, CEO of BGrimm, said that five of the seven power plant projects are replacement facilities under renewed power sale accords.
The two other schemes are new undertakings under the 25-year power sale contracts (PPA) signed with the Electricity Generating Authority of Thailand (EGAT) in August this year.
These projects are primarily aimed at generating quality electricity and steam supplies to promote and attract industrial investment for Thailand’s sustainable economic growth, she said.
Meanwhile, BGrimm said its financial position remains strong with Bt19 billion in cash on hand and robust cash flows derived from operations.
The company said it is exploring new energy investment opportunities at home and abroad to raise its total generation capacity to the targeted 7,200MW.
