BGRIM-UV Acquires 3 Co-Generation PPs with a Combined Installed Capacity of 360MW

B.Grimm Power Public Company Limited (ฺBGRIM) announced that Univenture BGP Co., Ltd. (UVBGP), an associated company of BGRIM in which BGRIM and Univentures Public Company Limited respectively hold 45 percent and 55 percent of shares, is fulfilling the terms and conditions precedent under the share sale and purchase agreement to acquire all shares in Eastern Cogeneration Company Limited (E-COGEN), which is a subsidiary of Eastern Power Group Public Company Limited (EP), in order to indirectly hold shares not less than 74.5% in PPTC Company Limited (PPTC) and 100% in SSUT Company Limited  (SSUT). 

PPTC and SSUT own combined cycle cogeneration power plants with a power purchase  agreement of 90 MW each with the Electricity Generating Authority of Thailand (EGAT) for 25 years. Summary of approximate installed capacity and key information are as follows:

Nevertheless, the completion of acquisition of shares mentioned above is subject to fulfillment by the relevant parties of all terms and conditions precedent under the share sale and purchase agreement. It is anticipated that the acquisition of all shares in E-COGEN by UVBGP will be completed within 2021.

The above mentioned UVBGP’s investment in PPTC and SSUT will augment BGRIM’s  growth potential and strength in term of being a leader in industrial power plants (SPP), and correspond to BGRIM’s plan of business expansion and total utilities solution provider to  serve customers’ demand for enhancing its competitiveness in the industrial areas.