B.Grimm Power Public Company Limited (SET: BGRIM) announced its signing of power purchase agreement of an associate company via the Stock Exchange of Thailand (SET).
As B.Grimm Power Public Company Limited (SET: BGRIM) notified the Stock Exchange of Thailand regarding the establishment of a new associate company named Xekong 4 Power Co., Ltd., (XK4) with the shareholding proportion of 20% of the registered capital to develop and operate the Xekong 4A and 4B Hydroelectric Power Project with an installed capacity of 355 megawatts which is located in Xekong Province, Lao People’s Democratic Republic (Lao PDR).
On 25th December, 2023, Xekong 4 Power Co., Ltd. entered into the Power Purchase Agreement for Xekong 4A and 4B Hydroelectric Power Project with the Electricity Generating Authority of Thailand (EGAT) for 27 years. It is scheduled for commercial operation in 2033 to produce and sell all the electricity to EGAT.
This year, B.Grimm Power had increased its operating capacity by 7 projects, totaling 632 megawatts. Currently, B.Grimm Power commercially operates with a total capacity of 3,970 megawatts. This investment aims to foster the growth of the clean energy sector while broadening investment initiatives throughout the ASEAN region and increasing the renewable portfolio in line with global energy trends. This will promote sustainable business growth to achieve goals in alignment with the strategy of B.Grimm Power.