B.Grimm Power Public Company Limited (BGRIM) unveiled its seven strategies based on the company’s vision to “Empower the World Compassionately” with BGRIM’s core values of Professionalism, Positivity, Partnership and Pioneering Spirit.
Dr Harald Link, Chairman and President of BGRIM, made the official announcement of the company’s regenerated approach to business and growth plan with a ramped-up target to achieve Power Purchase Agreements (PPA) of 10,000-megawatt capacity by 2030.
BGRIM, known as Thailand’s leading industrial power producer, will seek to accomplish the strategies by continuing to embrace its traditional principles of conducting businesses with compassion.
BGRIM is evolving to be a “Sustainable Utility Solution Provider” powered by reliable and clean energy, providing integrated services to meet changing customer needs, Dr Link explained.
BGRIM will also continue to gear up business cooperation with congenial partners both at home and abroad.
The seven strategies to drive BGRIM onto being a global energy producer consisting of:
Strategy 1: Significantly expanding natural gas and renewable energy generating capacity in the region with Power Purchase Agreements with various government units, to provide highly-efficient and stable supplies of electricity and utilities which are the cornerstones to support economic growth of various countries. This strategy will be pursued by means of greenfield project development and acquisition in Thailand and abroad. BGRIM is already present in Thailand, Lao PDR, Vietnam, South Korea, Cambodia, the Philippines and Oman.
Strategy 2: Playing a major role in the liquefied natural gas (LNG) business and clean fuel supply chains. BGRIM has already secured the rights to import 1.2 million tonnes of LNG a year to Thailand. The LNG procurement rights will lead to opportunities for better cost management and business expansion both in the power sector and the distribution of LNG. Furthermore, the engagement of LNG business and clean fuel supply chains could pave the way for development of alternative fuels which lead to the reduction of greenhouse gas emissions in the future.
Strategy 3: Grow B2B (business-to-business) solution offerings to industrial customers. BGRIM is supplying high-quality electricity and steam to more than 300 factories in Thailand and Vietnam. The company will broaden the scope of services to include comprehensive utility and expanding service areas beyond the industrial estates to support the trend of decentralisation and raising production efficiency of the industrial sector which is vital for the growth of the country's economy.
Strategy 4: Based on the ability to import gas to gaining a foothold in commercial and building segments by means of providing comprehensive utility services for commercial building segments. This strategy will be realised through the synergy of companies under the B.Grimm group’s umbrella.
Strategy 5: Becoming a significant regional player in the private transmission and distribution segment to support efficient transmission and distribution of electrical power. BGRIM will seek to achieve this goal by leveraging on its 25-year experience and expertise in building and overseeing power transmission and distribution systems in nine industrial estates in Thailand, Vietnam and Cambodia. The works represent part of the development of infrastructure that is essential to building Smart Cities of the future and transnational electricity supplies.
Strategy 6: Providing quality and stable energy supplies directly to buyers through a trading platform.
“The direction of the energy business from now is for powerhouses getting smaller and smaller. In the future, people will have their own power generators at homes with solar panels installed on the roofs to generate electricity for direct peer-to-peer exchange,” noted Dr Link.
Strategy 7: Champion global best practices in digital transformation. This calls for developing various business models to support “digital transformation” through cooperation with leading local and international partners in the hands of new generation teams.
Dr Link said the seven strategies will be implemented based on BGRIM’s five key success factors which encompass: 1) Capability to find attractive opportunities; 2) Capability to be an attractive partner of choice to others; 3) Capability to build, operate and maintain power plants starting from greenfield; 4) Capability to finance our growth at attractive rates; 5) Capability to embrace “digital transformation” to create a long-term growth with the goal of becoming a leading global energy producer and a net-zero carbon emissions organisation by 2050
BGRIM is operating 48 power plants and has set its sights on raising its Power Purchasing Agreements capacity from 3,682 MW in 2020 to 7,200 MW in 2025 and further to 10,000 MW in 2030. The company also aims an annual revenue target of more than 100 billion baht with a strong financial structure.
Dr Link said that BGRIM’s growth is tied to the principles of good governance, sustainability and responsible value chain management by taking into account the economic, social and environmental impacts.
Published : July 08, 2021