Amata B. Grimm Power 4 Limited

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Amata B. Grimm Power 4 Limited (ABP4) was created to build and operate a 132MW gas fired combined cycle cogeneration power plant in the Amata Nakorn Industrial Estate, Chonburi Province, approximately 57km from Bangkok. The project company agreed to sell power to Electricity Generating Authority of Thailand (EGAT) under a 25 year power purchase agreement (PPA) at a contracted capacity of 90MW that falls under Thailand’s small power producer (SPP) program. The remaining capacity is sold to numerous industrial users within the Amata Nakorn Industrial Estate under Power purchase agreements with three to five-year terms. Under the EGAT PPA, EGAT would pay ABP4 the capacity payment of 90MW, which consists of Thai baht and US dollar-linked Thai baht portions under a take-or-pay structure. ABP4 is owned by an experienced group of sponsors - 50% by Amata B. Grimm Power Ltd (ABP); 29.9% by B.Grimm Power Ltd (BGP); and 20.1% by Amata Corporation Public Company Ltd (Amata). Sumitomo Corporation, one of the largest worldwide trading companies, is a 30% shareholder in ABP through its subsidiary Summit Sunrise Energy Ltd. BGP in turn has a more than 50% shareholder in ABP. Additionally, Amata, Thailand’s leading developer of industrial estates, is a 13.8% shareholder in ABP. The total cost of the power plant was estimated at USD 184m. The project reached financial close in 2013 with USD 50 million to be funded by group of lenders under a project financing arrangement with the longest loan tenor of 20 years in Thailand’s power project finance market. Kasikornbank Public Company Ltd was the mandated lead arranger and the other lenders were - Land & Houses Bank Public Company Ltd, Mizuho Bank Ltd Bangkok Branch and Sumitomo Mitsui Banking Corporation.