September 6, 2021  B.Grimm Power Public Company Limited (BGRIM)<\/strong> and Singha Estate Public Company Limited (S)<\/strong> announced that the two companies have officially reached an agreement and completed the shareholding transaction in two power generation companies<\/strong> after previously finalizing a shareholding transaction in one power generation company in July 2021. This brings B.Grimm Power's shareholding to 70% and Singha Estate's to 30% in the three power generation companies located in the S. Ang Thong Industrial Estate.<\/strong>

The three power generation companies have a total power generation capacity of 403 megawatts (MW), consisting of B.Grimm Power (Ang Thong) 1 Co., Ltd., which operates a combined heat and power plant with a capacity of 123 MW, and two new power generation projects owned by B.Grimm Power (Ang Thong) 2 Co., Ltd. and B.Grimm Power (Ang Thong) 3 Co., Ltd., each with a capacity of 140 MW and a Power Purchase Agreement (PPA) for 90 MW with the Electricity Generating Authority of Thailand (EGAT) for 25 years.

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Dr. Harald Link, Chairman of B.Grimm and CEO of B.Grimm Power Public Company Limited<\/strong> stated, “BGRIM<\/strong> will leverage its expertise as a Utilities Solution Provider to enhance collaboration towards becoming a SMART Eco Industrial Estate, which includes the following developments:
1) Electricity business including power transmission and distribution systems as well as readiness for digital platforms.
2) Gas transmission and distribution systems.
3) Smart Solutions including the use of solar rooftops and solar floating systems to enhance efficiency and energy savings for industrial customers (IU).
4) Energy trading systems for P2P transactions.
5) Renewable Energy Certificates (REC) to support IU customers' greenhouse gas reduction plans towards sustainability.
6) Energy storage systems to enhance the stability and efficiency of renewable energy. We are very pleased to have a strong partner like Singha Estate to move forward together.”

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Ms. Thitima Rungkwansiriroj, CEO of Singha Estate Public Company Limited<\/strong> said, “Singha Estate is very proud to quickly become one of the key players in Thailand's power generation sector through a joint venture with one of the most reputable and recognized companies in the field. This business offers attractive returns and, more importantly, complements Singha Estate's core businesses, which include commercial real estate, residential properties, resorts, and hotels.”

“In 2021, we have moved forward to strengthen partnerships with businesses that complement our core real estate business, focusing on collaborating with leaders in various related industries, with a commitment to pursue our strategic goals without being deterred by the COVID-19 situation to fulfill our long-term growth,” Ms. Thitima stated.

B.Grimm Power<\/strong> aims to deliver quality through:
1) Maximizing energy efficiency through the management of electricity, chilled water, hot water, gas delivery, and water resource management.
2) One-stop Solution by offering comprehensive management tools and equipment through collaboration among companies in the B.Grimm group.
3) Efficient electricity management through energy-efficient solutions to reduce carbon footprint.
4) Experience and expertise that can create significant differentiation.
5) Being a reliable partner with commitments.

“Conducting business with generosity to create civilization, in harmony with nature,” Dr. Harald Link remarked.

This joint venture among the three companies is expected to generate revenue of no less than 7.8 billion baht by 2024.<\/strong>

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