BGRIM Acquires Italian Clean Energy Business to Solidify Footprint in Europe

B.Grimm Power Public Company Limited (SET: BGRIM) has announced the acquisition of a new subsidiary via the Stock Exchange of Thailand (SET).

On June 28, 2024, RES Company Sicilia S.r.l., a wholly-owned subsidiary of B.Grimm Power, has acquired 100% of the total issued shares of LT09 S.r.l., a company incorporated under laws of the Republic of Italy, from LT Service S.r.l., who is not a connected person, with the total consideration of EUR 10,000.

LT09 S.r.l. is a company engaged in the renewable energy business in the Republic of Italy, specializing in ground-mounted solar power plant projects equipped with solar tracking systems. Currently, it is developing a project named ‘Ortanova 2’, which has a production capacity of 73.26 megawatts (MWp) situated in the southern part of the Republic of Italy. With this, B.Grimm Power currently has a total of 350-400 MW of renewable power plants and 180-200 MW battery storage projects under development in the Republic of Italy. In the future to come with LT09 S.r.l., B.Grimm Power will be continuing to explore more opportunities for developing renewable energy projects in Europe in alignment with B.Grimm Power’s ‘GreenLeap-Global and Green’ strategy.