B.Grimm buys solar power project in Cambodia
B.Grimm Power Public Company Limited’s wholly owned subsidiary, B.Grimm Solar Power 1, last Wednesday entered into a share purchase agreement with Pramote Laocharoenwong, who is not connected with the company, to acquire all shares of Ray Power Supply for a total value of US$300,000 (Bt9.07 million).
According to its filing with the Stock Exchange of Thailand today, the transaction is in accordance with the principle approved by the Board of Directors on November 13, 2019.
The acquisition is currently awaiting approval from the Ministry of Mines and Energy and relevant competent authorities of Cambodia.
Ray Power Supply has been granted the right to develop a ground-mounted solar farm project in Serei Saophoan, Banteay Meanchey Province, pursuant to the power purchase agreement for 30 Megawatts with Electricite Du Cambodge (EDC) with the term of 20 years. The scheduled commercial operation date is October 2020.
