B.Grimm Power Public Company Limited (SET: BGRIM) has made significant organizational restructuring to brace for growth in the clean energy sector and a global business expansion.
This transformation divides its operations into three main business groups: Renewable Energy Development, Domestic and Industrial Business Solutions, and Finance and Accounting Groups. The company is under the leadership of Harald Link, Group CEO, with senior executives such as Peradach Patanachan, Nopadej Karnasuta, and Siriwong Borvornboonrutai taking charge of respective divisions.
Dr. Harald Link stressed B.GRIMM Power’s achievement in scaling its power plant projects during 2024, highlighted by a focus on renewable energy initiatives aimed to spearhead the company’s direction through 2025, leading towards sustainable growth. The vision to “Empowering the World Compassionately” stands firm as BGRIM pursues robust business collaborations both domestically and internationally with the upcoming investment in data center.
Key strategic goals for 2025 include:
1) Growth in Renewable Energy and Global Expansion: The goal is to achieve a total renewable energy generation capacity of 10 gigawatts by 2030. This marks an advancement through investments in solar, wind, and hydroelectric power projects, alongside a commitment to achieving Net Zero by 2050. BGRIM also plans to further penetrate global markets including South Korea, Japan, the USA, and Southeast Asia through joint ventures, mergers and acquisitions, and strategic partnerships to foster strong and sustainable growth.
2) Efficient and Sustainable Capital Allocation: The company prioritizes effective capital allocation to sustain long-term growth. Planned investments between 2024-2030 tally up to 136 billion baht, with 85% earmarked for renewable energy projects. In its shareholding-equity investments of 70 billion baht, renewable energy projects constitute 94%. Funding sources include cash flow from operations, issuance of subordinated and conventional bonds, loans from financial institutions, strategic partnerships, and asset divestures.
3) Becoming an Energy Partner for Data Centers: BGRIM aims to be the primary energy supplier for Data Centers in Thailand through a partnership with Amata Industrial Estate. The collaboration intends to provide comprehensive renewable energy solutions to meet the energy demands of data centers in Amata Industrial Park, Chonburi. They are also in talks for a 310 MW electricity PPA with data centers totaling 150 MW of capacity. Moreover, the company is discussing with partners to jointly invest in data centres themselves rather than only supplying electricity to one. The talk is still ongoing and should be announced by the first half of 2025.
Dr. Harald Link mentioned that the investment strategy weighs the expected internal rate of return (EIRR) which ranges from 10-15%, factoring in technology risk, country credibility, offtaker reliability, and anticipated cash flow volatility.
Moreover, BGRIM is committed to prudent debt and equity management, targeting a debt-to-equity ratio of 3.0 times at the start of project financings, employing limited-recourse loans and back-end equity. The firm emphasizes risk diversification and raising investment profiles in the Asia-Pacific region and global markets to ensure stable and sustainable growth in the long term.
Long-term, BGRIM is geared up to evolve into a world-class business entity, driving success and expanding across numerous countries worldwide. The company aims to showcase Thai potential internationally while ushering business and partnerships toward sustainable growth.
Recently, BGRIM’s subsidiary was selected for manufacturing and selling renewable energy to the government, with a contract capacity of 51.12 megawatts. Additionally, B.Grimm Solar Power Rooftop Co. Ltd., a wholly-owned subsidiary, inked a contract with the Provincial Electricity Authority (PEA) for a solar power project totaling 10.26 MW over 25 years.
BGRIM remains steadfast in bolstering renewable energy and fostering sustainable socio-economic development with continued dedication to clean energy initiatives, aligning with the “GreenLeap – Global and Green” strategy toward achieving Net Zero Carbon Emissions by 2050.
