B.Grimm Power Public Company Limited (SET: BGRIM) has disclosed through the Stock Exchange of Thailand a 65 MWp power plant in the Philippines has commercialized on 5 December 2025 with a short-term feeding through spot market at higher tariff and will officially begin feeding electricity through the Department of Energy in mid-January 2026.
On Monday, 8 December, B.Grimm announced that Amatera Renewable Energy Corporation (ARECO), a wholly owned subsidiary of BGRIM under B.Grimm Solar Power Inc., has successfully completed all required grid compliance testing and, on 5 December 2025, received the Final Certificate of Approval to Connect (FCATC) from the National Grid Corporation of the Philippines for its 65 MWp (installed capacity) / 50.1 MWac (contracted capacity) ground-mounted solar power project located in Bacolod City, Negros Occidental, on Negros Island, Republic of the Philippines (the Project).
The issuance of the FCATC confirms that the Project has officially achieved its Commercial Operation Date (COD) on 5 December 2025.
From COD on 5 December 2025 through 14 January 2026, the Project has been exporting its full electricity output to the Philippine Wholesale Electricity Spot Market (WESM) at applicable average spot rates of approximately PHP 6.6/kWh (around THB 3.6/kWh).
Effective 15 January 2026, the Project will commence energy delivery under its 20-year Power Purchase Agreement (PPA), awarded through the Department of Energy’s Green Energy Auction – 4 (GEA-4), at a fixed tariff of PHP 4.43/kWh (approximately THB 2.40/kWh).
The long-term PPA ensures predictable revenues, enhances project bankability, and supports stable cash flows throughout the contract term. Furthermore, upon completion of the 20-year PPA period, the Project will remain eligible to sell electricity into WESM and may seek to secure a new PPA for the remainder of the plant’s operational life.
As one of the first GEA-4 projects scheduled to deliver power in 2026, the Project demonstrates B.Grimm Power’s strong readiness and execution capability, reflecting a pioneering approach in securing a competitive tariff and optimal market timing. The Project further highlights B.Grimm Power’s high standards of technical and commercial professionalism, as well as effective partnership with government authorities, and local communities.
These achievements position the Project as a strong reference benchmark for future investments and provide a solid foundation for the continued expansion of B.Grimm Power’s renewable energy portfolio in the Republic of the Philippines, in line with the country’s growing demand for clean energy. This milestone reinforces B.Grimm Power’s commitment to sustainable long-term growth and to delivering reliable, environmentally responsible power to the communities it serves.
About WESM
The WESM acts as the default buyer for any power that is generated but not yet obligated under a contract. It ensures the plant can start producing revenue the moment it is technically ready (COD) and approved for grid connection (FCATC), even if the PPA’s delivery start date is slightly later.
The WESM is the venue for trading electricity as a commodity in the Philippines. The WESM was created by virtue of Section 30. of Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act (EPIRA) of 2001. Its objective is to establish a competitive, efficient, transparent and reliable market for electricity.
