B.Grimm Power is dedicated to becoming a premier global electric power producer and supplier, contributing to infrastructure advancement, ensuring energy stability, and mitigating carbon emissions for the betterment of national, regional, and global economies and industries. We uphold the principles of social, economic, and environmental sustainability while making substantial investments in human capital and technology to enhance competitiveness.
In May 2026, B.Grimm Power operates 72 power plants with a total installed capacity of 4,764 MW (or 2,918 MW in equity capacity). By incorporating developing projects and those currently under construction (committed projects), our projected installed capacity is 6,640 MW (or 3,878 MW in equity capacity).
| 3M26 | 3M25 | 2025 | 2024 |
|---|
| Revenues | 12,961.98 | 13,952.83 | 56,683.95 | 57,023.20 |
| Expenses | 10,720.83 | 11,787.49 | 47,904.43 | 47,803.74 |
| Net Profit (Loss) | 721.18 | 653.93 | 1,675.49 | 1,556.87 |
| Assets | 189,541.07 | 183,515.29 | 183,046.04 | 180,900.72 |
| Liabilities | 138,684.13 | 131,518.06 | 133,686.00 | 129,229.21 |
| Shareholders' Equity | 34,729.46 | 36,166.86 | 33,436.47 | 36,086.18 |
| Operating | 2,154.77 | 5,059.93 | 16,782.68 | 6,742.13 |
| Investing | -11,574.28 | -1,698.18 | -8,418.04 | -15,677.50 |
| Financing | 3,023.60 | -699.80 | -3,891.09 | -647.23 |
| EPS (Baht) | 0.19 | 0.16 | 0.29 | 0.26 |
| GP Margin (%) | 20.72 | 18.20 | 18.52 | 18.99 |
| NP Margin (%) | 7.63 | 7.43 | 5.74 | 5.56 |
| D/E Ratio (x) | 2.73 | 2.53 | 2.71 | 2.50 |
| ROE (%) | 4.92 | 4.88 | 4.82 | 4.20 |
| ROA (%) | 4.86 | 4.82 | 4.72 | 5.10 |
ฺB.Grimm Power announces GreenLeap-Global and Green strategy and aims to reach a capacity of 10,000 MW from operating and committed projects by 2030, with over 50% renewable energy sources and achieve net-zero carbon emissions by the year 2050. The strategy includes: 1) Industrial Solutions: Deliver stable, accessible, and sustainable energy to industrial estates through renewable energy and advanced digital tools, empowered by Digital Infrastructure-as-a-Service (DIaaS) with an integrated approach to energy management, digital technologies, and industrial solutions, 2) Independent Power Producer: Expanding the portfolio of renewable energy power plant projects, enhancing efficiency and readiness, to accommodate the global energy transition and 3) Sustainable Fuels: Sourcing fuel for our power plant projects and building expertise in production of alternative fuels for industries and chemical products. This also includes developing synthetic fuels for sectors difficult to decarbonise.
B.Grimm Power's 2023-2030 sustainability strategy, aligned with our "Empowering the World Compassionately" vision, revolves around two core pillars: 1) Sustainable Value Creation: Emphasising sustainable business growth through clean energy, delivering value to society while preserving harmony with nature and addressing important issues that impact both the company and stakeholders and 2) Building a Foundation for Sustainability: Giving importance to fundamental components and conducting business operations under the principles of good governance, with a focus on stakeholder engagement.
18 MW of new industrial users (IUs) were synchronised from the metal industry in Q1’2026.
In Jan 2026, BGP Holding (US) LLC (BGP US) (a subsidiary), acquired 25% of the membership interests in New England Reliable Hydropower Holdings LLC (NERH), an associate that owns and develops 26 hydropower plants in the United States of America with a total installed capacity of 406 MW and 8 MW of BESS.
CMT Energy Co., Ltd. (CMT) (a joint venture), commenced commercial operation of the 10 MW CMT1 solar power plant in Thailand on 28 January 2026.
In Q1’2026, B.Grimm Power continuously delivered resilient operating performance, with EBITDA increasing by 1.9% y-on-y to THB 3,795 million. The increase was mainly driven by lower natural gas costs and higher service income related to development fees, which helped offset increased SG&A expenses and a lower share of profit from associates and JVs. Meanwhile, Normalised Net Profit (NNP) – owner of the parent was THB 507 million, a decrease of 32.3% y-on-y mainly due to lower realised foreign exchange (FX) gain and higher tax expenses.
Net Profit – owner of the parent increased by 10.2% y-on-y to THB 721 million, compared to THB 654 million, primarily due to a non-cash transaction of unrealised FX gain from the net position of outstanding USD debts and foreign currency transactions.
In Feb 2026, B.Grimm Power Tiara Sdn. Bhd. entered into Sale and Purchase Agreements and Shareholders’ Agreements with KAB Energy Holdings Sdn. Bhd. to acquire 49% stakes in Jati Cakerawala Sdn. Bhd. and Eentier Sdn. Bhd. to study combined-cycle gas turbine power projects with a capacity of up to 1,500 MW in Malaysia.
In Mar 2026, B.Grimm LNG Limited (a subsidiary) established a new subsidiary in Malaysia, B.Grimm LNG Sdn. Bhd., to engage in the trading of Liquefied Natural Gas (LNG) and/or Natural Gas for supply to power producers and industrial users.
B.Grimm Power adopts the COSO Enterprise Risk Management Framework (COSO ERM) to manage risks appropriately throughout the company. We emphasise comprehensive risk management across corporate, business unit, and functional levels, including ESG risks. We also prioritise addressing climate change and incorporate recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) into our risk management practices. Additionally, we are committed to anti-corruption and have been certified as a member of the Thai Private Sector Collective Action Against Corruption (CAC). We provide channels for reporting misconduct or governance oversight. The Risk Management Committee is responsible for setting risk management policies, overseeing practices, promoting a risk management culture across the organisation, and reporting risk management outcomes to the Board of Directors and the company's committees.
- Included in “The Sustainability Yearbook” by S&P Global (5th consecutive year), with a ranking of the top 10%
- Included in the FTSE Russell (6th consecutive year)
- Received the the Leading of ESG, Leading of Social Product, and Experienced Professional Love 36–60 yrs awards at the Future Trends Awards 2026.
| as of 31/03/26 | BGRIM | ENERG | SET |
|---|---|---|---|
| P/E (X) | 18.52 | 12.01 | 16.56 |
| P/BV (X) | 0.93 | 1.07 | 1.36 |
| Dividend yield (%) | 3.46 | 5.47 | 4.41 |
| 31/03/26 | 30/12/25 | 30/12/24 | |
|---|---|---|---|
| Market Cap (MB) | 31,022.11 | 36,757.29 | 50,834.55 |
| Price (B/Share) | 11.90 | 14.10 | 19.50 |
| P/E (X) | 18.52 | 18.67 | 41.22 |
| P/BV (X) | 0.93 | 1.08 | 1.42 |
