B.Grimm Power Plc’s (BGRIM) third-quarter revenue jumped 56.9%, driven by higher electricity tariffs, higher sales volume in the country and in Vietnam and contributions from the new Thai wind farm.

During the July to September period, the electricity sales tariff increased from the Thailand Power Generation Authority’s fuel pass-through mechanism due to higher natural gas prices and the fuel price (Ft).

Harald Link, chairman of BGRIM, said the company’s power supplies to industrial users (IU) in Thailand continued to increase during the quarter, with new buyers taking 33.4 megawatts in the first nine months of 2022. .

Third-quarter UI transmission in Vietnam also increased as local demand recovered after Covid-19 restrictions eased.

The commercial start-up of BGRIM’s 16 MW wind farm in Thailand in August 2021 also continued to generate more revenue.

As the company expands its customer base, 50-60 MW of new supply contracts are expected in 2023.

Positive factors are contributing to BGRIM’s outlook over the next 12 months, Mr Link said.

This is the Ft load increased in September-December 2022 from 0.6866 baht per kilowatt hour to 0.9343 baht per kilowatt hour; acquisitions of new energy assets; start-up of BGRIM’s Small Power Producer (SPP) replacement facilities with state-of-the-art technology and high efficiency; continued expansion of UI’s customer base as well as cost containment.

BGRIM continues to forge cooperation with leading partners both at home and abroad to tap into more business opportunities, Link said.

In September, Cleanergy ABP, SCG Cleanergy, and Amata Corporation formed an alliance with Amata Facility Services to create a business that supports the use of clean energy among industries in the Amata City Industrial Zone.

Last June, BGRIM and EDL-Gen, a subsidiary of Electricité Du Laos, signed a memorandum of understanding to jointly pursue the development of hydroelectric, wind and solar power transmission and distribution systems to meet the clean energy demand in Asean.

In addition, the construction of several BGRIM power projects advanced with the four SPP replacement plants, including ABP1R, ABP2R and BGPM1&2R, being 91-98% complete.

These power plants with a combined generation capacity of 560 MW are expected to enter commercial service in the fourth quarter of 2022.

In addition, two other new SPP power projects, BGPAT2 and BGPAT3, have progressed 48% and 66% respectively in construction and are on track for commercial operation next year. These have a combined output of 280 MW.

Progress of 78% has also been made with phase 1 of the U-Tapao integrated power plant project which is expected to be commissioned in the first half of 2023.