KEPCO

B.Grimm Power Public Company Limited (BGRIM) has reported that in April, Mr. Harald Link, Chairman of BGRIM, and Mrs. Preeyanat Soontornwata, President of BGRIM, had travelled to Beijing to visit the President of China Energy Engineering Corporation (Energy China) Wang Jianping to have a discussion regarding the business cooperation between the two companies, including the solar farm “Phu Yen” in Vietnam. Phu Yen is the solar farm with an installed capacity of 257 MW in Vietnam, having BGRIM as a project operator and Energy China as an EPC Contractor and EPC Financing. BGRIM has revealed that the completion of Phu Yen is almost at 100% which will be ready for a COD on June 30, 2019, as scheduled along with the 20 years agreement term with Electricity of Vietnam at the rate of 9.35 cent per kWh. BGRIM would recognize the income right after the COD. After the visit in Beijing, both BGRIM’s executives travelled to Korea to meet Korea Electric Power Corporation (KEPCO)’s executives to discuss on the matter of a cooperation in developing energy storage system (ESS) and SMART GRID which is expected to be used to develop U-Tapao Airport’s area and Eastern Economic Corridor (EEC). Moreover, BGRIM’s executives had met Mr. Park Hyung-Koo, President and CEO of Korean Midland Power Co., Ltd. (KOMIPO) to discuss an opportunity of developing wind farm projects and renewable energy in Korea in the future. The development between three major companies in the two countries has expanded the opportunities and investment potential of BGRIM in Eastern Asia.