With ADB’s financing, B.Grimm Power is expected to implement the ASEAN Distributed Power Project. The project aims to expand renewable and distributed power generation capacity into new markets in ASEAN including Cambodia, Indonesia, Lao People’s Democratic Republic, Myanmar, the Philippines, and Viet Nam.
The ASEAN Distributed Power Project will involve the execution and operation of distributed and utility-scale solar, wind, biomass, waste-to-energy, gas-fired power, energy storage, as well as associated infrastructure in ASEAN countries.
Through this project, B.Grimm Power’s total distributed power generation capacity could increase by more than 50% to 2.5GW by 2022 and the share of renewable energy in its energy mix will also increase from the present 10% to 30%.
ADB’s private sector operation’s department director general Michael Barrow said: “The development of renewable energy in Southeast Asia is critical to meet its energy needs and B.Grimm Power is at the forefront of the region’s fast growing alternative energy sector.
“ADB is proud to once again partner with B.Grimm Power as it continues its expansion strategy in ASEAN member countries.”
Last year, ADB had acquired a $57.7m equity stake in B.Grimm Power as part of the company’s initial public offering (IPO).
Operating in the energy industry since 1993 in Thailand, B.Grimm Power is a subsidiary of the 140 year old conglomerate B.Grimm Group. Presently, it has 1.77GW of operating capacity in 13 gas-fired plants.
In the recent years, the company has also started investing in renewable energy and currently it operates 15 solar plants and two hydro power plants.
