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.
B.Grimm's Dau Tieng Tay Ninh solar farm by Dau Tieng Lake in southern Vietnam. Photo courtesy of B.Grimm.
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.
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