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For renewable energy business expansion in Malaysia, B.Grimm has invested 2.8 billion baht to acquire 375 MW solar power plant from “reNIKOLA Holdings”.
B.Grimm Power Malaysia Sdn. Bhd., a 100% owned subsidiary of B.Grimm Power, has entered into a Subscription Agreement with reNIKOLA Sdn. Bhd. and reNIKOLA Holdings Sdn. Bhd., or equivalent to 45% of total shares.
B.Grimm Malaysia is also entitled to directly invest 3.5% of total shares in RE Gebeng BKH Sdn. Bhd. (a company which has been developing 375 MWdc solar power plant) with a total purchase price of MYR 367 million or approximately 2,888 million baht, said the company statement.
Recently, B.Grimm Power plc has announced that the company has secured $28 million in a syndicated loan from Thailand’s top financers to undergird its solar energy project in Cambodia.
Also B.Grimm Power has teamed up with Amata Corporation, One of the second largest industrial land developers in Thailand. The operator will develop a smart city in a major industrial area. The company will build a smart grid or distributed power generation system in the industrial area which is part of its plans to expand electricity-related businesses.
B.Grimm Group is a multinational conglomerate based in Bangkok, Thailand. The large-scale conglomerate is active in healthcare, energy, building and industrial systems, real estate, e-commerce, and transport.