China’s state-owned energy conglomerate, to develop renewable energy projects in Thailand and Asean with an eye to become one of Thailand’s leading private power producers, as it aims to reach 5,000 megawatts in generating capacity within the next five years.
B GRIMM Power Plc has signed a memorandum of understanding (MOU) with China Energy Engineering Corporation (CEEC),
Company president Preeyanart Soontornwata said that it had signed an MOU with Energy China on a collaboration framework to develop renewable power plants in Thailand and Asean. As a state-owned energy conglomerate, Energy China possesses vast technological expertise and financial resources, and has a keen interest in investing in renewable energy in Asia. Energy China has confidence in B Grimm Power’s capabilities and experience in the industry, given the company’s track record of successful business development; continuous, sustainable growth; competent personnel and corporate structure as well as corporate credibility which ranks among the best in Thailand.
B. Grimm Power realises the growing significance of renewable energy. Renewable energy projects not only strengthen B. Grimm’s business due to the lower production costs, but also support the development of renewable energy in Thailand, which in turn help to reduce the import of energy from overseas, as well as lessening CO2 emissions to the environment.
B. Grimm Power’s partnership with Energy China will prepare the company for new project investments when the government announces its renewable energy policy later this year, she said.
According to Preeyanart, the company’s accelerated investment in domestic and overseas power plant projects aims to increase the company’s generating capacity to 5,000 megawatts within the next five years from its current capacity of 1,627 megawatts.
She expects B Grimm Power’s production ratio of renewable energy, including solar, wind and hydro, to increase from 10 per cent to 25-30 per cent. It currently operates 15 solar power plants with a combined generating capacity of 114.2 megawatts located in Nakhon Pathom, Saraburi, Ayutthaya and Sa Kaeo provinces.
Moreover, B. Grimm Power is also looking for investment opportunities in neighbouring countries, including Laos, Myanmar, Vietnam, the Philippines, Malaysia, Indonesia and Cambodia, and is currently conducting feasibility studies on several potential projects in Laos and Myanmar. The company’s Xenamnoy-Xekatam project, a 20mw hydropower plant currently under construction in Lao PDR, will commence commercial operation later this year.
China Energy Engineering Corporation or Energy China is a Chinese state-owned energy conglomerate with a registered capital of approximately Bt135 billion. Energy China has investments in all energy sectors inside and outside China, including fossil fuel, hydropower, nuclear energy, wind energy and solar energy.