B.Grimm Power Public Company Limited, or B.Grimm Power, has announced a significant achievement in its ongoing expansion into the global energy market by investing 25% in a large hydropower portfolio in the United States, with a total capacity of 406 MW through a strategic partnership with the leading global partner, Brookfield NERH Aggregator LLC (Brookfield).

BGP Holding (US), LLC (BGP US), a wholly-owned subsidiary of B.Grimm Power, has invested to acquire a 25% interest in New England Reliable Hydropower Holdings LLC (NERH), a subsidiary of Brookfield, following the fulfillment of conditions under a purchase agreement signed on July 10, 2025, amounting to a total investment value of $230.02 million (approximately 7,272.43 million baht). After the transaction is completed, NERH will be a joint venture of B.Grimm Power, with the remaining 75% interest in NERH held by a subsidiary of Brookfield.

NERH owns and operates a diverse portfolio of 26 hydropower plants with a total capacity of 406 MW, along with an 8 MW battery storage system. The hydropower plants are located in Maine with a capacity of 403 MW (25 plants) and in New Hampshire with a capacity of 3 MW (1 plant) in the United States. This portfolio accounts for approximately 20% of the total hydropower generation in the competitive New England market, with the generated electricity sold in the New England Independent System Operator (ISO-NE) market and supplied to various private electricity buyers through stable mechanisms and contracts.

Mr. Peeradech Patthanajun, Chief Executive Officer of Renewable Energy Development Business at B.Grimm Power Public Company Limited, stated that the energy sector in the United States, particularly in the ISO-NE market, presents a significant opportunity for B.Grimm Power due to the increasing demand for electricity in the New England region, projected to rise significantly from 138 terawatt-hours in 2025 to 256 terawatt-hours by 2053, driven by economic growth, a shift towards electric energy, and energy transition policies. Additionally, all states in the New England region have set targets to reduce greenhouse gas emissions by at least 80% by 2053, which supports the transition to cleaner and more stable energy sources.

Another important reason making the energy market in the United States, especially the ISO-NE market, attractive is the transparent and efficient free market structure, along with pricing mechanisms that reflect the true cost of energy, effectively reducing risks from fluctuations in global natural gas prices. Furthermore, the free market system allows electricity producers to generate revenue based on efficiency and the value they bring to the system, particularly for flexible and dispatchable power plants, such as the hydropower plants in B.Grimm Power's portfolio, which strengthens B.Grimm Power's long-term returns.

This investment aligns with B.Grimm Power's GreenLeap strategy, which focuses on diversifying its renewable energy asset base both geographically and in terms of renewable energy technology. This follows the success of partnering with Brookfield in investing in the 30 MW Malacha hydropower project in California in 2024. The 25% investment in NERH will further strengthen the long-term strategic partnership of B.Grimm Power.

This investment not only significantly expands B.Grimm Power's renewable energy business in the United States through a stable platform with potential for long-term growth but also reflects a shared vision with Brookfield to create sustainable value under the investment, as well as supporting long-term goals to achieve net-zero greenhouse gas emissions by 2053 (2050) and a production capacity target of 10,000 MW by 2030.