B Grimm teams up with provincial power agencies to pursue opportunities
B Grimm Power Plc (BGRIM) has teamed up with the Provincial Electricity Authority (PEA) and subsidiary PEA ENCOM International (PEA ENCOM) to pursue new business opportunities.
The memorandum of understanding (MoU) between the three entities will see them collaborating financially and technically in new ventures.
The MoU was signed by B Grimm Group’s chairman Harald Link, BGRIM’s chief executive officer Preeyanart Soontornwata, PEA governor Sompong Preeprem and acting PEA ENCOM president Khemarat Sartprecha.
Link said the collaboration will be instrumental in expanding the customer base for small power producers and boost the efficiency of private power generation projects that produce electricity for their own use or directly supply power to buyers.
In another move to strengthen the BGRIM-PEA ENCOM tie-up, subsidiary B Grimm Power Service (Laem Chabang) transferred a 5 per cent stake to PEA ENCOM for Bt200 million.
The chairman said forming such alliances is key to driving a secure, sustainable growth for BGRIM over the long term and helps it realise its target to achieve a combined installed capacity of 7,000MW. This linkup will also generate profits and dividends for shareholders consistently, he said.
