B.Grimm Solar Power Inc., a wholly owned subsidiary of B.Grimm Power, has made a significant investment by purchasing additional shares in Caronsi Solar Energy Corporation, a company established under the Philippine law for the development and operation of a solar power plant with an installed capacity of 65 megawatts.
B.Grimm Solar Power Inc. will hold a 97% stake in Caronsi Solar Energy Corporation, with a total investment of 200 million Philippine pesos (approximately THB 118.52 million). The project is expected to commence commercial operations in the first quarter of 2027.
Dr. Harald Link, Chairman and CEO of B.Grimm Power Public Company Limited (SET: BGRIM), revealed that the solar project is located in Tuguegarao City, Cagayan Province, in Northern Luzon, Philippines.
The project has secured the rights to sell electricity generated from solar energy for a period of 25 years (renewable) under a Solar Energy Operating Contract from the Department of Energy of the Republic of the Philippines.
Additionally, the project holds a long-term land lease right for 25 years (renewable), and all relevant approvals and licenses from concerned authorities have been duly obtained.
Moreover, the project has received approval to participate in the “BOI Green Lane” initiative, a government program that expedites the permitting and approval process, enhancing the project’s readiness to move forward into the construction and operational phases. This marks BGRIM’s second large-scale solar power plant project in the Philippines.
Given the continuously rising electricity demand in the Philippines, this investment represents a strategic move for BGRIM to drive the growth of clean energy and expand its footprint within the ASEAN region. It also aligns with the global trend toward renewable energy adoption and strengthens the company’s renewable energy base to support the world’s ongoing energy transition.
This approach is aimed at ensuring the company’s long-term sustainability and advancing its strategic GreenLeap-Global and Green goals, which focus on forging global partnerships to become a leader in the renewable energy sector and a leading power producer on the world stage.
BGRIM is determined to increase the share of renewable energy in its portfolio to over 50% in order to mitigate the long-term impacts of natural gas price volatility, foster business collaboration, and create opportunities for future business growth.
The company’s key objectives are to achieve a total generation capacity of 10,000 megawatts by 2030 and to become a net-zero carbon emissions organization by 2050.
