B.Grimm Power Public Company Limited has announced that its wholly-owned subsidiary, B.Grimm Solar Power 1 Company Limited, has completed the acquisition of Ray Power Supply Company Limited.
This would enable the Thai company to undertake the completion of a ground-mount solar farm is to be built in Serie Saophoan, Banteay Meanchey Province under a 20-year power purchase agreement (PPA) with national utility Electricite Du Cambodge (EDC). The project is set to be completed by October 2020.
In a filing to the Stock Exchange of Thailand, the company has announced that the deal now been granted approval from the relevant authorities in Cambodia. B.Grimm is one of the oldest and largest infrastructure developers in Thailand.
In a letter dated November 18, 2019, the company had announced that B.Grimm Solar had entered into a share purchase agreement to acquire all the shares of Ray Power.