Amata B Grimm kicks off two new power plants in Rayong
February 25, 2014 00:00 By The Nation
Amata B Grimm Power, one the largest small power producers (SPPs) in the country, has inaugurated two co-generation combined-cycle plants, Amata B Grimm Power (Rayong) 1 and 2.
With a total investment value of Bt10 billion, the power plants have a combined generating capacity of 246 megawatts, of which 180MW is supplied to the Electricity Generating Authority of Thailand (Egat) under a 25-year SPP power purchase agreement. The remaining capacity is used to produce electricity and steam for industrial users in Amata City Industrial Estate in Rayong.
The construction of the plants began in 2011 and was completed last year.
Harald Link, chairman of B Grimm and executive chairman of B Grimm Power Group, said the two new plants were part of the group’s strategic expansion plan, which comprises 16 power plants with a total value of more than Bt70 billion.
Of the 16 plants, six plants are already in commercial operation with a combined output of 733MW and four are under construction. The group is contracted to develop the remaining six plants over the next five years.
This means that by 2019, B Grimm Power Group will be operating a total of 16 co-generation combined-cycle plants, each with a 25-year SPP power purchase agreement with Egat, and have a combined generating capacity of more than 2,000MW.
B Grimm Power is one of the pioneers of the private power-generation industry in Thailand, and one of the group’s most profitable companies.
In addition to the SPP projects, the company is seeking investment opportunities in renewable energy, both domestically and in various countries such as Myanmar, Japan and Malaysia.
B Grimm Power aims to achieve a total generating capacity of 5,000MW within the next five years, which it says reflects the rapid growth and confidence of the company supported by a highly competent team of professionals with more than 30 years of experience in the energy field.
This is coupled with a robust financial position after having raised Bt6.3 billion through the Amata B Grimm Power Infrastructure Fund (ABPIF).
Preeyanart Soontornwata, president of B Grimm Power Group, said the total revenue of the group last year was Bt14.4 billion and it is projected to reach Bt19 billion this year with the added revenues from Amata B Grimm Power (Rayong) 1 and 2.
The group expects its income to continue to grow next year from the four power plants currently under construction in Bangkadi Industrial Park, Pathum Thani province, and Amata Nakorn Industrial Estate, Chon Buri province, which will increase generating capacity by 480MW.