B.Grimm Power of Thailand and Siemens Energy have joined a consortium, led by Energy Capital Vietnam (ECV), to develop an LNG-to-power project in Southern Vietnam.
B.Grimm Power is planning to invest $200 million in equity at the financial close of the $1.75 billion project. The company has a more than 20-year presence in Vietnam and expertise in operating gas-fired power plants, with a total capacity of more than 2,000 megawatts. Siemens Energy will deliver advanced technology equipment into the project to reduce the global carbon footprint by bringing cleaner burning natural gas to a still coal-dominated region.
“B.Grimm Power is excited to work with ECV, Siemens Energy and Maius to deliver the MKG LNG project on time and we welcome the timely issuance of Power Development Plan VIII,” said Harald Link, chairman and president of B.Grimm Power. “We find great confidence in the innovative risk mitigation approach applied to the project as a cornerstone for the Vie
