Dr. Harald Link, CEO of B.Grimm Power Public Company Limited (BGRIM), announced that the company's performance in Q1 2025 showed strong growth with a net profit from operations (NNP) attributable to the parent company increasing by 51.6% to 749 million baht, and EBITDA reaching 3,725 million baht, up 2.6% compared to the same period last year. The net profit attributable to the parent company was 654 million baht, up from 379 million baht in the same period last year, driven by five key factors: 1. The consolidation of Malacha's performance in the United States after acquiring 100% in May 2024, 2. An 8.8% increase in steam sales to industrial customers (IUs) in the country compared to the previous year, 3. Improved profit sharing from joint ventures and partnerships, 4. A decrease in natural gas prices, and 5. Realized foreign exchange (FX) gains.

B.Grimm Power also connected a new industrial customer IU system in Thailand with a capacity of 6.9 megawatts from various sectors, including household appliances, tire manufacturing, and chemicals. Additionally, B.Grimm LNG imported two LNG shipments in March and April, totaling approximately 130,000 tons, into the Pool Gas system to fuel B.Grimm Power's combined heat and power plants.

In Q1, B.Grimm Power successfully commenced commercial operations of the Kuchinashi ground-mounted solar power project, with an installed capacity of 14 megawatts in Japan, under a 16-year power purchase agreement with Tohoku Electric Power Corporation. The company continues to expand its business by establishing Amata B.Grimm Renewable Energy Co., Ltd. as a joint venture, with B.Grimm Power Smart Solution Co., Ltd. holding a 25% stake and Amata U Co., Ltd. holding 75%, to produce and sell solar power.

Another significant step for B.Grimm Power is its ongoing collaboration with domestic and international partners. In February, B.Grimm Power signed a power purchase agreement with NS BlueScope to develop a 12-megawatt ground-mounted solar panel project at the NS BlueScope plant in Rayong, aimed at increasing the use of clean energy in the factory, equivalent to reducing greenhouse gas emissions by approximately 9,000 tons per year. Furthermore, to promote renewable energy use in the business sector, B.Grimm Power delivered renewable energy certificates (RECs) to Kasikorn Asset Management, providing clean energy options for the finance and investment sectors to drive a low-carbon society.

Reinforcing its success with awards and recognition, B.Grimm Power received the "The Best of ESG" award at the Future Trends Awards 2025 organized by Future Trends, a leading trend media in Thailand, reflecting its business operations that encompass governance, social responsibility, and environmental considerations for the benefit of all stakeholders. The company also received nine awards from FinanceAsia, a leading financial magazine in Hong Kong, showcasing its business potential and professionalism under the philosophy of "Empowering the Global Community with Generosity."

Dr. Harald Link stated that this year's business operations face challenges from U.S. tax and trade policies, which may impact electricity consumption from industrial customers, potentially decreasing by about 5-10% compared to 2024. However, the trade war between the U.S. and major economies may positively affect natural gas prices, which we anticipate for SPP to be around 320-340 baht per million BTU, similar to the 2024 price of 324 baht per million BTU. We plan to import no more than five LNG shipments into the Pool Gas system.

“Attracting new customers, such as data centers, will help mitigate the impact, as their electricity demand is less sensitive to tax measures and global trade slowdowns, supported by the continuous growth of the digital economy. B.Grimm Power will closely monitor the situation to assess potential impacts on certain industrial customers and collaboratively develop strategies and appropriate mitigation measures,” Dr. Harald Link said.

For the 2025 targets, B.Grimm Power aims to add new industrial customers connected to the system totaling 40-50 megawatts, along with various projects under construction that will reach COD totaling 610.5 megawatts this year and early next year, including: 1. U-Tapao solar power project (Phase 1) 18 megawatts, 2. KOPOS wind power project 20 megawatts, 3. “Insee B.Grimm” solar power project 80 megawatts, 4. Rooftop solar power project “Jong Cher Rubber” in Amata City Industrial Estate, Rayong 35 megawatts, 5. Rooftop solar power project “386” 27.5 megawatts, 6. “ARECO” solar power project 65 megawatts, and 7. Offshore wind power project “Nakwol 1” 365 megawatts.

In the long term, B.Grimm Power aims to become a leading global energy producer and achieve net-zero carbon emissions by 2050, with a target to increase its production capacity to 10,000 megawatts by 2030.