Thailand: B.Grimm Power opens co-generation power plant in Chon Buri

Thailand: B.Grimm Power opens co-generation power plant in Chon Buri

B.Grimm Power Pcl, a leading private power producer, yesterday officially
opened its latest co-generation power plant, B.Grimm Power WHA1 (BPWHA1), at
Hemaraj Industrial Estate in Chon Buri province.

The company expects the plant to strengthen its leading position in the
Southeast Asian market.

The move also strengthens investors' confidence in its initial public
offering (IPO) tentatively scheduled for the third quarter of this year.

General Paibul Koomchaya, a member of the Privy Council, presided over the
plant's opening ceremony.

Preeyanart Soontornwata, president of B.Grimm Power Pcl, said BPWHA1 is a
gas-fired co-generation power plant with 130.2MW power generation as
installed capacity. The plant also has the capacity to produce 30 tonnes of
steam per hour. It started commercial operations and has been realising
income from power generation since November 1, 2016.

A joint venture between B.Grimm Power Pcl and WHA Energy Co Ltd, BPWHA1
serves more than 100 manufacturers in the steel, electronics, energy and
auto parts sectors as well as many other companies that represent large
multinational companies on the industrial estate.

The opening of BPWHA1 underlines B.Grimm Power's positioning as the
country's largest small power producer with extensive investment in
co-generation and alternative energy plants in Thailand and elsewhere in
Southeast Asia.

"BPWHA1 is the 12th co-generation and the latest power plant under B.Grimm
Power's arm. The plant will produce and distribute 90MW to the Electricity
Generating Authority of Thailand [Egat] under a 25-year power purchase
agreement. The remaining electricity and steam will be sold to industrial
plants located in Hemaraj Industrial Estate. WHA Energy has commissioned
B.Grimm Power as the sole developer of the co-generation power plant in this
industrial estate," said Preeyanart.

"The Ministry of Industry has forecast that in 2017 Thailand's industrial
sector will expand 3-4 per cent over last year. This has given us greater
confidence in the industry's future. Considering our increasing power
generation capacity, from both co-generation and alternative energy power
plants, we are confident that we will be able to make a great contribution
to support the industrial sector, which needs a stable power supply. This
will enhance the country's competitiveness and its position as the hub of
Southeast Asia," Preeyanart said.

The opening of BPWHA1 will enhance market confidence in B.Grimm Power's
production capacity and business potential. This will significantly support
the company's IPO plan, which is making good progress as scheduled. The
company will offer 775,500,000 shares at Bt2 par value tentatively in the
third quarter. Funds will be raised to support its future power plant
development and construction in Thailand and other countries as well as to
repay debts.

B.Grimm Power plans to continuously develop new co-generation and renewable
power plants in Thailand and Southeast Asia. It has five projects under
construction with a total investment value of Bt18.74 billion. Two new power
plants are scheduled to start commercial operations this year - Xe Namnoy
Hydroelectric Power Plant and Xe Katam Hydroelectric Power Plant in Laos. It
also has 10 projects under development.

With these new projects and current ones combined, by the end of 2021 the
company will have 43 power plant projects with total generation capacity of
2,357MW and 500 tonnes of steam per hour. This includes co-generation power
plants with 2,111.1MW installed capacity, solar power plants with 114.2MW,
hydroelectric power plants with 102.6MW, a wind power plant with 16MW and a
diesel oil-fired co-generation power plant with 13MW.

"B.Grimm Power has a clear and stable growth direction. We have great
expertise and experienced management and engineering teams, world-class
advanced technology, strong business partnerships and signed power purchase
agreements," said Preeyanart.

"Considering these factors, we are confident that we will achieve
satisfactory growth for the company, its investors and all stakeholders. At
the same time, we are strongly committed to the environment, natural balance
and the quality of life of the people in surrounding communities. We are
moving forward to become the leader in empowering society in a sustainable
manner. This is how we translate our vision of 'Empowering the World
Compassionately' into real action," she added.

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Link to Original Article:
http://www.nationmultimedia.com/news/breakingnews/30315467

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com