"The company has now secured all it takes to successfully realise the projects which form part of B.Grimm's plan to build a portfolio of 7,200 MW," said Harald Link, the company's chairman.
The seven planned plants have a combined capacity of 980 MW, the company said in a statement.
It plans to reach its new target by 2022, up from a previous target of 5,000 MW and from an installed capacity of 3,019 MW currently.
It obtained loans worth 29.4 billion baht from Bangkok Bank, Siam Commercial Bank, Kasikornbank and state-owned lenders, Export-Import Bank of Thailand and Government Savings Bank, Link said.
Construction of the seven power plants will be carried out by Siemens Energy Co Thailand and Toshiba Plant Systems and Services Corporation.
These projects are aimed at developing infrastructure to reliably produce electricity and steam supplies to promote and attract industrial investment, said B.Grimm CEO Preeyanart Soontornwata.
The company also said it has deals in Vietnam, Malaysia and South Korea, which will be finalised in the next 12 months.
(Reporting by Chayut Setboonsarng; editing by Jason Neely)