BANGKOK — Thailand’s B.Grimm Power Pcl plans to invest 10 billion baht ($314.17 million) this year as part of a plan to raise its power generation capacity to 5,000 megawatts by 2022, President Preeyanart Soontornwata said on Monday.
Most of the investments will be in solar farms, and the company is negotiating with partners in Vietnam, Malaysia, Indonesia and the Philippines, she said in an interview.
B.Grimm Power operates co-generating gas plants, solar farms, and hydroelectric power plants.
She expects to conclude at least one deal this year, she said, adding that the projects should have a minimum internal rate of return of 15%.
Revenue in 2018 is likely to be 15% to 20% higher than last year as three power plants with a combined capacity of 399 MW will come online, she said. The company has 1,714 MW of installed capacity as of now, according to its Web site.
Shares of the company ended 4.2% higher on Monday, while the benchmark stock index closed up 0.2 percent. — Reuters
