Thai B.Grimm Power records $105 mln revenue from Vietnam operation in 2022

Thailand’s B.Grimm Power Public Company Limited, a major energy developer in Southeast Asia, posted a revenue of 3.67 billion baht ($104.77 million) from its Vietnam operations in 2022, up 1.91% year-on-year.

According to the firm’s financial statement, Vietnam accounted for 5.89% of its total revenue of 62.4 billion baht ($1.78 billion) in the year.

As of end-2022, the Thai giant had nine subsidiaries in Vietnam, including Amata Power (Bien Hoa) Limited, Viet Thai Solar Limited Liability Company, Vietnam Power & Energy Consulting Company Limited, and Total Digital Solutions Company Limited.

The remaining five are Quality Builder Group Company Limited, Dau Tieng Tay Ninh Energy JSC, Huong Hoa Holding JSC, Lig-Huong Hoa 1 JSC, and Phu Yen TTP JSC.

The firm reached three power purchase agreements with state utility Vietnam Electricity as of end-2022, including two for in-production solar farms of 497 megawatts and one for an under-construction wind power project of 48 MW.

Earlier this year, B. Grimm Power established Amata B.Grimm Vietnam Company Limited, with registered capital of VND14.76 billion ($421,100), to provide rooftop solar power.