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FA HIGHLIGHTS

Published: 26 Mar 2025

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B.Grimm Power invested in Caronsi, the solar power project with 65 MW in Philippines.

B.Grimm Power Public Company Limited (BGRIM) has launched a major strategic push into Southeast Asia with the official announcement of its investment in the 65-megawatt Caronsi Solar Power Project in the Philippines. Located in Tuguegarao City, Cagayan Province (Northern Luzon), this facility marks BGRIM's second utility-scale solar plant in the republic.

The investment is a critical strategic step, designed to align the company’s renewable energy portfolio with global transition trends while directly addressing the Philippines' surging electricity demand. To secure the venture, B.Grimm Solar Power Inc., a wholly-owned subsidiary, acquired a dominant 97% stake in Caronsi Solar Energy Corporation, with a total subscription of PHP 200 million (approximately THB 118.52 million).

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Crucially, the project has secured the government’s prestigious “BOI Green Lane” status. This fast-track initiative is designed to drastically expedite all necessary permits and regulatory approvals, confirming the project is immediately ready to move into development and construction. Built for robust, long-term stability, the plant operates under a renewable 25-year Power Purchase Agreement with the Department of Energy, backed by long-term land lease rights. Commercial operations are slated to commence in the first quarter of 2027.

 

This strategic investment not only advances the clean energy sector in the Philippines but also substantially strengthens BGRIM’s investment presence across the entire ASEAN region, underpinning its sustainable business growth objectives.

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