Ms. Siriwong Borvornboonrutai, President – Finance and Accounting, B.Grimm Power Public Company Limited (SET: BGRIM), stated that the company, together with Kasikornbank Public Company Limited (SET: KBANK), has signed an interest rate risk management contract referencing increased capacity from renewable energy power plants. This marks the first time such a transaction has been implemented in the power plant business in Thailand.
BGRIM will receive a special interest rate under specified conditions if it achieves the targeted increase in renewable energy production as set out in the agreement. This collaboration demonstrates both organizations’ commitment to driving clean energy and jointly building a sustainable future for Thailand in order to reach the Net Zero target.
Ms. Siriwong stated that BGRIM is proud to be the first power plant group in Thailand to adopt a financial mechanism that links environmental targets with interest rate risk management in a concrete way. With this tool, the company is able to manage financial risks while increasing renewable energy power plant capacity as planned. This is in line with the strategic plan for renewable energy growth and business expansion at the global level, and is considered another significant step toward achieving the company’s Net Zero target by 2050.
Mr. Thiti Tantikulanan, Capital Markets Business Division Head, KBANK, stated that the bank is pleased to participate in this hedging contract on interest rates referenced to increased production from renewable power plants. This transaction is the first of its kind for the power plant business in Thailand. If BGRIM can achieve the set criteria, it will receive the specified special interest rate, making it a transaction that aligns with the bank’s operations as a sustainable bank – pioneering the offering of environmentally-friendly financial products and services.
Dr. Harald Link, Chairman of BGRIM, stated that Nakwol Blue Heart Co., Ltd., the developer of a large-scale offshore wind farm project under construction in Nakwol-myeon, Yeonggwang County, Jeollanam-do province, South Korea, announced that Mr. Chartsiri Sophonpanich, President of Bangkok Bank PCL (SET: BBL), along with the management team, recently visited the project site during their trip to South Korea from 9–13 September. Bangkok Bank has agreed to provide more than KRW 600 billion in financial support for the project’s engineering, procurement, and construction (EPC financing). By the end of August 2025, the Yeonggwang-Nakwol offshore wind farm project had achieved more than 62% overall completion.
The offshore wind farm is located in the sea near Songi Island, Nakwol area, and will feature 64 wind turbines, each with a capacity of 5.7 megawatts (MW), totaling 364.8 MW of installed capacity. The aim is to commence partial commercial operations with 91.2 MW by the end of this year, and achieve full commercial operation date within June 2026.
