BGRIM Holds 20% Stake in New JV with SCCC to Invest in 80MWp Solar Project

B.Grimm Power Public Company Limited (SET: BGRIM) has announced that B.Grimm Power Service Limited, a subsidiary of B.Grimm Power, has established a new wholly subsidiary named B.Grimm Power Future Solution Limited (BGPFS) for the purpose of being a holding company. The registered capital is THB 5 million, divided into 50,000 ordinary shares with par value of THB 100 per share.

BGPFS will invest in the Solar Project in partnership with Siam City Power Co., Ltd. (SCP), a wholly-owned subsidiary of Siam City Cement Public Company Limited, by establishing a new associate company named INSEE B.Grimm Solar Company Limited (IBS) for operating solar energy generation.

The expected investment cost for the Solar Project is approximately THB 1,920 million, for an installed capacity of approximately 80 MWp. Based on the shareholding proportion, BGPFS’s investment is approximately THB 480 million.