Nopadej Karnasuta, President of Thailand, Malaysia and Energy & Industrial Solutions Business at B.Grimm Power Public Company Limited (SET: BGRIM), revealed that the construction progress of the BKK Campus data center project in Chonburi Province, with a capacity of 94 megawatts and a total investment of THB 25 billion, has currently reached 40% completion. The first phase (BKK1), with a capacity of 47 megawatts, is scheduled to open within November this year, while the second phase (BKK2), also 47 megawatts, will commence operations within 2027.
The BKK Campus data center project is a collaboration between BGRIM and Digital Edge (Singapore) Holdings, which has already secured a green loan totaling $880 million, or approximately THB 28 billion. This reflects investors’ confidence in Thailand’s potential to become the region’s digital infrastructure hub.
The BKK Campus project is situated in the Eastern Economic Corridor (EEC), a key strategic area for Thailand. The project is a large-scale digital infrastructure facility supporting the use of artificial intelligence (AI) and cloud systems at the enterprise level. The project aligns with the country’s digital policy, which aims to encourage investment in high-value technology and infrastructure sectors to drive long-term economic growth.
At the “EARTH JUMP 2026: A BRIDGE TO EMPOWERED ACTIONS” event organized by KBANK, Nopadej spoke on “Sustainability License to Operate AI & Data Center” topic. He emphasized that fostering investment in data center businesses in Thailand, which will increase the country’s value, relies on government promotion policies, especially in upgrading the country’s high-skilled workforce.
The Federation of Thai Industries (FTI) is cooperating with government agencies and the Board of Investment (BOI) regarding promotional measures for data center investments, as well as amending relevant laws—such as possible rules for the proportion of local content usage (local raw materials, components, and labor).
The aforementioned matters are set to be proposed at the upcoming meetings of the Power Development Plan (PDP) working group and the investment promotion task force this week. The issues to be discussed include bottlenecks in power and water systems and strategies to best benefit Thailand in terms of quality of life, high-skilled workforce development, and local content requirements—which would be a necessary condition for receiving BOI’s investment incentives.
Due to the specialized nature of data center businesses, Nopadej insisted that support measures must be separated and clear conditions specified regarding the benefits to Thailand. Since data centers require significant power and water, development must begin at the source and must be separated from the public electricity grid to prevent shortages and rising prices. Data centers should be able to purchase electricity directly.
There should also be an opening for third-party asset (TPA) connections, allowing private sector liberty in power generation. However, if natural gas is used as fuel, it must be liquefied natural gas (LNG) rather than cheaper sources like the Gulf of Thailand, ensuring Thai citizens access to affordable electricity. Nopadej believed that private sector licensees will be able to source affordable LNG for the data centers’ needs.
BGRIM will discuss the entire business chain with the government and the BOI to upgrade Thailand’s development, with policies pushing the private sector to utilize the Thai supply chain to develop data centers. Currently, BGRIM’s Chonburi data center project employed more than 90% Thai labor and used a 100% local supply chain. The company is also developing its power plant and petrochemical teams into high-skilled engineers for supporting data centers and transferring partners’ know-how to Thai personnel, Nopadej said.
The Investment Analysts Association (IAA Consensus) provides an average target price BGRIM shares at THB 15.86, with a maximum price of THB 20.
