B.Grimm Power Public Company Limited (SET: BGRIM) has announced that its subsidiary, B.Grimm Power Korea Limited, will acquire KRW 32 billion (approximately THB 704 million) or 85% in convertible bonds issued by Unison Co., Ltd., a leading South Korean wind turbine manufacturer. The bonds are being purchased from Myungwoon Industry Development Co., Ltd., the controlling shareholder of Unison.
In a parallel transaction, Dr. Harald Link is set to purchase an additional KRW 5.6 billion (approx. THB 123.2 million) of the bonds, representing 15% of the total issuance.
This strategic move is designed to reinforce B.Grimm’s renewable energy supply chain and support the Nakwol Offshore Wind Power Project, a 364.8 MW facility in which B.Grimm already holds a 49% stake. The investment aligns with South Korea’s energy transition goals and offers potential for future equity participation in Unison, which is listed on the KOSDAQ.
The bonds carry an interest rate of 12% per annum (compounded quarterly) and are set to mature on May 26, 2027. Conversion rights become active one year after issuance, starting May 26, 2026, providing B.Grimm with strategic flexibility to transition from debt to equity while ensuring Myungwoon maintains its status as the largest and controlling shareholder.
The acquisition underscores B.Grimm Power’s long-term commitment to the South Korean market and its collaboration with key local industry figures, such as Myungwoon Chairman Mr. Kim Kang-Hak, who also leads the Korea Wind Energy Industry Association.
