Thailand’s B.Grimm Power Establishes New Subsidiary And Invests In Solar Project In Saraburi Province

B.Grimm Power Public Company Limited has announced the establishment of a new subsidiary and investment in a solar project located in Saraburi Province.

The subsidiary, B.Grimm Power Future Solution Limited (BGPFS), was created by B.Grimm Power Service Limited, with a registered capital of THB 5 million. BGPFS aims to act as a holding company.

In collaboration with Siam City Power Co., Ltd. (SCP), a subsidiary of Siam City Cement Public Company Limited, BGPFS will establish a new associate company named INSEE B.Grimm Solar Company Limited (IBS) to operate solar energy generation.

IBS, scheduled to be registered in the second quarter of 2024, will have a registered capital of THB 5,000,000, divided into 37,500 preferred shares and 12,500 ordinary shares, with a par value of THB 100 per share.

BGPFS will hold 25% of the total issued shares, represented by 12,500 ordinary shares, while SCP will hold the remaining 75%, represented by 37,500 preferred shares.

The funds for this venture will be sourced from BGPFS’s working capital. The anticipated investment for the Solar Project is approximately THB 1,920 million, with an installed capacity of around 80 MWp. BGPFS’s investment is estimated to be approximately THB 480 million.