B.Grimm Power Public Company Limited (SET: BGRIM) has announced the acquisition of new subsidiaries in Australia via the Stock Exchange of Thailand (SET).
B.Grimm Power has established a new wholly-owned subsidiary in Australia, B.Grimm Power Pty. Ltd. (B.Grimm Power Pty.) as a holding company. The registered and paid-up share capital is AUD 100,000 equivalent to approximately THB 2,483,510, divided into 100,000 shares, and at par value of AUD1 per share.
Subsequent to its incorporation, B.Grimm Power Pty. has acquired 100% of the issued shares of Nemaroo Bimbi Wind Farm Pty. Ltd. (NBWF), a company incorporated under the laws of Australia, from an individual who is not a connected person. NBWF will develop green field renewable projects and an energy hub in North Queensland in Australia which is one of the most proactive countries in transitioning from fossil fuels to renewables. Queensland has announced an 80% renewables target by 2035.
