B.Grimm Power seeks financing for offshore wind in S Korea - repot

Thai energy producer B.Grimm Power PCL (BKK:BGRIM) is looking to arrange a USD-600-million (EUR 552.6m) private loan to support the deployment of offshore wind capacity in South Korea, Bloomberg reported, citing insiders.

One of the schemes that may reportedly benefit from the funds is a USD-1.44-billion site that will be built by a Chinese state-owned construction firm over the next three years.

Discussions with financial institutions are already underway. The targeted private debt, which could include offshore yuan and US dollar tranches, will be backed by shares in the entity behind the project, the report said further.

B.Grimm Power develops, finances and builds green-field power plants.

Earlier this year, the company took stakes in two offshore wind projects in South Korea with a combined capacity of 740 MW in a drive to expand its portfolio of renewable power assets in the country.

(USD 1 = EUR 0.921)

Choose your newsletter by Renewables Now. Join for free!