Glow Energy divests 124 MW cogeneration project to B.Grimm Power Ltd

Date February 22, 2019
Type M&A Transactions
Subtype Transaction launched
Countries Thailand
Subsectors Hydrogen
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Glow Energy Public Company Limited, through its wholly-owned subsidiary Glow Company Limited, has entered into a Share Sale and Purchase Agreement with B. Grimm Power Service Limited for the sale of all of the issued shares in Glow SPP1 for a total consideration of THB3.3 billion (US$105 million).
 
SPP 1 is a cogeneration plant located in the WHA Eastern Industrial Estate (Map Ta Phut, Rayong Province, Thailand). The plant has a production capacity of 124 MW of power, 90 t/hr of steam, and 190 cu.m./hr of demineralized water. It has been operating under the Small Power Producer scheme since 1998, and is eligible for the SPP Extension and Replacement program, which was approved by National Energy Policy Council on 24 January 2019.
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