B.Grimm Power Public Company Limited (SET: BGRIM) has reiterated its strong ambition in reaching 10,000 megawatt in production capacity by 2030 by executing a careful investment strategy both domestically and internationally without any setback from geopolitical uncertainties.
To achieve its 2030 capacity target, the company plans to add roughly 1,000 MW annually over the next five years, focusing on stable markets with high credit ratings and long-term Power Purchase Agreements (PPAs).
South Korea has emerged as a cornerstone of BGRIM’s strategy, driven by a government policy shift toward renewable energy and the need for energy security. The company’s Nakwol 1 offshore wind project (365 MW) is currently 78% complete and began partial commercial operations last December.
As the first mega-project of its kind in South Korea, its success paves the way for Nakwol 2, in which BGRIM holds a 49% stake. The company leverages a local supply chain of over 100 Korean firms and benefits from the country’s Renewable Energy Certificate (REC) system, ensuring sustainable investment returns.
Similarly, in Japan, BGRIM is scaling up construction for large-scale solar and other renewable projects. By collaborating with established regional partners and securing long-term PPAs with state enterprises, Japan remains a vital region for BGRIM’s portfolio growth.
1) Mr. Peradach Patanachan, President – Renewable Energy Business
2) Mr. Nopadej Karnasuta, President – Thailand, Malaysia and Energy & Industrial Solutions Business
3) Ms. Siriwong Borvornboonrutai, President – Finance and Accounting
Australia represents a significant growth market where BGRIM is partnering with a top-tier local operator to develop solar and wind projects. This expansion includes a focus on Battery Energy Storage Systems (BESS) to navigate Australia’s “Merchant Market”. By storing energy during off-peak hours and selling it during peak demand, BGRIM can maximize pricing and create a “natural hedge” against volatile fuel costs. The company is currently conducting due diligence on a pipeline of approximately 1,000 MW in Australia, with further clarity expected by the third quarter.
While BGRIM has successfully operated major projects like Dau Tieng in Vietnam since 2018, the executives acknowledged recent challenges. Since 2021, shifts in Vietnam’s electricity policy have created legal uncertainties and policy obstacles. Despite these hurdles, BGRIM maintains a professional and sincere partnership with the Vietnamese government, focusing on explaining appropriate long-term solutions to benefit all stakeholders.
Beyond these regions, BGRIM continues to see success in the Philippines, where 100% foreign ownership is permitted for renewables, and the United States, through high-efficiency hydro projects with partners like Brookfield.
BGRIM executives view the Middle East conflict as both a challenge and a strategic opportunity. The company sees a significant opportunity in the evolving mindset of its industrial customers, who now prioritize energy security, quality, and reliable partnerships over simply seeking the lowest price.
This environment has allowed BGRIM to engage in more logical, mutually beneficial negotiations, such as implementing “gas pass-through” pricing models that ensure business sustainability for both parties during volatile periods. Furthermore, BGRIM maintains a low direct risk profile regarding the conflict, as its actual investment exposure in the Middle East is limited to less than 30 MW of solar roof projects in Saudi Arabia and the UAE, and it does not currently source LNG from that region.
The executives emphasized that BGRIM acts as a facilitator, ensuring that every project provides fair, sustainable benefits to local governments, partners, and communities. By strictly adhering to technical, financial, and regulatory diligence, BGRIM aims to prove that international private players can successfully drive a country’s green energy transition.
