B.Grimm Power Public Company Limited (SET: BGRIM) has informed the Stock Exchange of Thailand that on 9 January 2026, BGP Holding (US) LLC (BGP US), a wholly owned subsidiary of B.Grimm Power, has successfully acquired membership interests in New England Reliable Hydropower Holdings LLC (NERH), an affiliate of Brookfield NERH Aggregator LLC (Brookfield) that holds a 406 megawatts portfolio of hydropower assets and 8 MW of co-located battery storage.
Having satisfied the closing conditions under the Purchase and Sale Agreement executed on 10 July 2025, BGP US has acquired 25% of the membership interests in NERH for the purchase price of $230.02 million (equivalent to approximately THB 7,242.43 million). Following the completion of the transaction, NERH became an associate company of B.Grimm Power. The remaining 75% of the NERH is currently held by affiliates of Brookfield.
NERH owns and operates a diversified portfolio of 26 hydropower plants with a total installed capacity of 406 MW and 8 MW of battery storage. The portfolio’s capacity is located across two states, with 403 MW (25 hydropower plants) in Maine and 3 MW (1 hydropower plant) in New Hampshire, in the United States of America. The portfolio accounts for around 20% of total hydropower generation in the liberalized electricity market of New England. Electricity generated by the projects has been sold to the New England Independent System Operator (ISO-NE) market and to various corporate off-takers through stable mechanisms and contracts. The summary of key assets within the 26-project portfolio is as follows:
The U.S. energy sector, particularly the ISO-NE market, presents a compelling opportunity for B.Grimm Power. Electricity demand in New England is projected to increase from 138 terawatt-hour (TWh) in 2025 to 256 TWh by 2050, driven by economic growth, electrification, and energy transition policies. In parallel, all New England states have established targets to reduce greenhouse gas emissions by at least 80% by 2050, reinforcing the shift toward clean and reliable power sources.
This investment aligns with B.Grimm Power’s GreenLeap strategy, which emphasizes geographic expansion and technological diversification of renewable energy assets. Building on the successful partnership with Brookfield established through the 2024 investment in the 30 MW Malacha Hydropower Plant in California, the acquisition of a 25% stake in NERH further strengthens a long-term strategic collaboration with one of the largest renewable energy operators in the United States.
The transaction enhances B.Grimm Power’s footprint in the U.S. renewable energy market, providing exposure to a stable, scalable platform with long-term growth potential. It reflects a shared vision with Brookfield for disciplined, sustainable value creation and supports B.Grimm Power’s long-term objectives of achieving net-zero emissions and reaching 10,000 MW of installed capacity by 2030.
