ADB invests US$57.7 million in B. Grimm for renewables in Southeast Asia
- Written by PV-Tech
The Asian Development Bank (ADB) has invested THB1,968 million (US$57.7 million) in Thai power firm B. Grimm Power Public Company to develop renewable energy projects in Southeast Asia. The investment came as part of B. Grimm’s IPO. The power company has traditionally had a focus on gas-fired power plants but has moved into renewables in recent years, now with 15 solar plants in operation. Its aim is to have renewables move up from 10% to 30% in its energy generation portfolio.