B. Grimm Power Public Company Limited, one of the largest power producers in Thailand, on February 23 signed a loan equivalent of up to US$235 million with the Asian Development Bank (ADB) to develop and enhance renewable energy capacity in Asean countries.

ADB’s financing will support B.Grimm Power’s implementation of the Asean Distributed Power Project, which will expand renewable and distributed power generation into new markets in the region including Cambodia, Indonesia, Lao People’s Democratic Republic, Myanmar, the Philippines and Vietnam.

The 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.

“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,” says the director-general of ADB’s private sector operation’s department Michael Barrow.

B.Grimm Power’s total distributed power generation capacity is expected to increase by over 50% to 2,500MW by 2022, while the renewable energy share in its portfolio will rise from 10% to 30%.

ADB took a 1.968 billion baht (US$57.7 million) equity stake in B.Grimm Power as part of the company’s initial public offering in July 2017. It also administers a US$20 million loan provided by the Canadian Climate Fund for the Private Sector in Asia under the Clean Energy Financing Partnership Facility.

B.Grimm Power is a subsidiary of B.Grimm Group, operating in the energy industry since 1993 in Thailand. The company currently has a total capacity of 1,779MW, operating 13 gas-fired plants, with four more under development or construction. In recent years, B.Grimm has diversified into renewable energy and is operating 15 solar power plants and two hydro power plants.

Photo: BGrimmPower.com