B.Grimm Power advances in renewable energy with Laos hydroelectric investment
With sights set on the renewable energy sector, B.Grimm Power Plc is advancing with a steadfast growth plan. Its most recent stride in this direction involves a joint investment with Ratch Group Plc into a hydroelectric power plant project based in Laos.
This step is in line with B.Grimm Power’s GreenLeap strategy, underlining the firm’s ambition to emerge as a frontrunner in the global energy production market.
Harald Link, the company’s president, announced the establishment of a new entity, Xekong 4 Power, in partnership with Ratch Group and Lao World Engineering and Construction Co. This new venture, registered in Laos, sees B.Grimm Power owning a 20% stake, which translates to an investment of approximately 3.28 billion Lao kip (equivalent to 5.6 million baht). Ratch Group is the majority shareholder with a 60% stake, whereas the remaining 20% is held by Lao World Engineering and Construction Co.
This joint venture is tasked with the development and operation of the Xekong Hydroelectric Power Plant Project 4A and 4B in Xekong province, Laos. The project boasts a combined installed capacity of 355 megawatts.
Link further elaborated on the GreenLeap strategy, stating its design is to bolster global business collaborations, extending to both domestic and international partners. The strategic expansion into renewable energy is a significant milestone for B.Grimm Power, with the company’s goal being to secure a renewable energy share exceeding 50%. This move is designed to alleviate the long-term impact of natural gas price fluctuations.
Furthermore, this investment signals the strengthening of business collaborations, fostering alliances to widen their scope and create new opportunities, added Link. This methodology forms a crucial part of B.Grimm Power’s comprehensive business strategy, reported Bangkok Post.
In related news, Thailand’s leading private power producer, Ratch Group Plc, remains steadfast in its decision to allocate a capital expenditure of 35 billion baht for the expansion of its operations in both the power and non-power sectors this year. To read more click HERE.
