B Grimm Power signs MoU for power line in Cambodia
B GRIMM Power recently signed a memorandum of understanding with Poipet PP SEZ Co, one of the largest industrial-estate operators in Cambodia, to develop a power-transmission line at its industrial park in the western city of Poipet.
This will be the company’s starting point in expanding its power business in Cambodia, include the generation and distribution of electricity in the future.
B Grimm Power has been making significant investments in Laos and Vietnam. The company says it will also explore business opportunities in many other markets, including Myanmar, Cambodia, Malaysia, Indonesia and the Philippines.
Company president Preeyanart Soontornwata said the proportion of revenue contributed by its operations outside Thailand would increase from 10 per cent currently to 30 per cent within five years.
Preeyanart will be in Paksong, Champasak province, Laos, today for a press visit to B Grimm Power’s first hydropower plant in Laos. The 20-megawatt plant will go into operation in May.
She said the company would next year open its second hydropower plant in Laos at Nam Che, Xaisomboun province, with capacity of 15MW. The plant will cost about Bt1.7 billion.
B Grimm Power yesterday also revealed its 2018 plan to start the operation of three small power production (SPP) plants with combined capacity of 399MW at Amata City Industrial Estate in Thailand’s Rayong province; they cost Bt17 billion to develop.
Preeyanart said B Grimm Power had one operating diesel-based power plant in Bian Hoa, Vietnam, with more than 150 industrial customers.
“Power business currently represents about 70 per cent of B Grimm Group’s turnover. About 90 per cent of our power business comes from supporting industries with stable and reliable electricity and steam. Renewable energy now represents only 10 per cent [of its power plants’ fuel sources], but will increase to 25-30 per cent within the next five years,” she said.
Harald Link, B Grimm’s chairman, said that SPP power plants were of the highest importance for industries and therefore for industrial estates.
“We highly appreciate that the Thai government realises this importance and continues to support the development of industrial power plants in industrial estates, and approved the replacement of retiring industrial power plants,” he said.
B Grimm Power has 1,626MW of generating capacity in operation, with 12 gas and 15 solar-power plants in Thailand and the single diesel plant in Vietnam, with a total of nearly 300 industrial customers.
Five more plants are under construction. These consist of three gas-fuelled plants in Amata City Rayong, and two hydropower plants in Laos.
Source: http://www.nationmultimedia.com/news/business/corporate/30309351
