B.Grimm Power Public Company Limited (SET: BGRIM) announced on Wednesday that its 45%-owned subsidiary reNIKOLA Holdings Sdn. Bhd., held through B.Grimm Power (Malaysia) Sdn. Bhd., has entered into a transaction to acquire 100% of the shares in BGMC BRAS Power Sdn. Bhd. (BGMCSB) and Idiwan Solar Sdn. Bhd. (ISSB). Consequently, B.Grimm Malaysia, a wholly-owned subsidiary of BGRIM, possesses indirect ownership of 45% of economic interests in BGMCSB and ISSB.
BGMCSB and ISSB are the owners of Kuala Muda and Machang solar power projects, respectively, which have total installed capacity of 90 MWdc and have each entered into a 21-year power purchase agreement with Tenaga Nasional Berhad (the only electric utility company in Peninsular Malaysia).
The summary of information are as follows:
