Univenture BGP, a joint venture between “Univenture” and B.Grimm Power, has acquired 100% of Eastern Cogeneration, holding shares in three combined cycle power plants with a total capacity of 360 megawatts, enhancing investment growth potential in the industrial electricity generation sector.

Mr. Kampon Poonsonnee, President of Univenture Public Company Limited (UV), and Dr. Harald Link, Chairman of B.Grimm and CEO of B.Grimm Power Public Company Limited (BGRIM), announced that Univenture BGP Co., Ltd. (UVBGP), a joint venture of UV and BGRIM, which holds 55% and 45% of shares respectively, is in the process of acquiring all shares of Eastern Cogeneration Co., Ltd. (E-COGEN), a subsidiary of Eastern Power Group Public Company Limited (EP), to achieve 100% ownership in SSUT Co., Ltd. (SSUT) and 74.5-100% in PPTC Co., Ltd. (PPTC), which owns three combined cycle cogeneration power projects with a total capacity of 360 megawatts. Each project has a power purchase agreement of 90 megawatts with the Electricity Generating Authority of Thailand (EGAT) for 25 years and sells electricity and steam to industrial customers in industrial estates. The acquisition of all shares of UVBGP in E-COGEN is expected to be completed within 2021.

SSUT owns two combined cycle power projects with a total installed capacity of 240 megawatts and steam production of 60 tons/hour, located in Bang Pu Industrial Estate, which commenced commercial operations in December 2016. PPTC owns one combined cycle power project with an installed capacity of 120 megawatts and steam production of 30 tons/hour, located in Lat Krabang Industrial Estate, which began commercial operations in March 2016.

Mr. Kampon Poonsonnee, President of Univenture Public Company Limited (UV), stated that the investment of UVBGP in PPTC and SSUT aligns with the company's strategy to restructure and balance its investments to diversify risks from relying primarily on income from the real estate business. This investment will lead to growth in the company's revenue and profits from existing long-term power purchase agreements and opportunities to generate electricity and steam to accommodate new customers in the future, providing the company with a steady and recurring income source in the long term.

Dr. Harald Link stated that the investment of UVBGP in PPTC and SSUT reflects B.Grimm's long-standing principle of business operation emphasizing partnership, as well as its commitment to supporting the strength of the industrial sector, which has been ongoing for over 25 years. It also aligns with B.Grimm Power's strategy for business expansion and comprehensive utility services, applying professionalism to continuously improve the efficiency of all three power plants in the future.

Furthermore, Univenture BGP Co., Ltd. or UVBGP is a collaboration between UV and BGRIM to jointly invest in energy businesses that support real estate development and other investments, covering various energy projects such as combined cycle power plants, rooftop solar power plants, floating solar power projects, biomass power plants, hybrid power plants, energy solution services, and smart grid projects, aiming to expand electricity generation capacity to 500 megawatts by 2025.