BGRIM acquires Italian clean energy company to strengthen its position in Europe

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

On June 28, 2024, RES Company Sicilia Srl, a wholly owned subsidiary of B.Grimm Power, acquired 100% of all issued shares of LT09 Srl, a company incorporated under the laws of the Italian Republic, from LT Service Srl, a non-related entity, for a total consideration of EUR 10,000.

LT09 Srl is a renewable energy company in the Italian Republic, specializing in ground-mounted solar power plant projects equipped with solar tracking systems. It is currently developing a project called “Ortanova 2”, which has a production capacity of 73.26 megawatts (MWp) and is located in the southern part of the Italian Republic. As a result, B.Grimm Power currently has renewable power plant projects in Italy with a capacity of 350-400 MW and battery storage projects with a capacity of 180-200 MW. In the future, together with LT09 Srl, B.Grimm Power will continue to explore new opportunities for the development of renewable energy projects in Europe in line with B.Grimm Power’s “GreenLeap-Global and Green” strategy.