B.Grimm Power—controlled by Thai billionaire Harald Link—has bought a stake in U.S.-based hydropower operator New England Reliable Hydropower Holdings for 7.24 billion baht ($230 million) amid the group’s drive to expand its overseas renewable energy portfolio.
Harald Link, Chairman of B. Grimm Group of Companies, with his daughter Caroline Link at the Amata B.Grimm Power plant in the Amata City Industrial Estate.—has bought a stake in U.S.-based hydropower operator New England Reliable Hydropower Holdings for 7.
24 billion baht amid the group’s drive to expand its overseas renewable energy portfolio. BGP Holding, a wholly owned subsidiary, completed its acquisition of a 25% stake in NERH on Friday, B.Grimm Power said in a Stock Exchange of Thailand “This transaction enhances B. Grimm Power’s footprint in the U.S. renewable energy market, providing exposure to a stable, scalable platform with long-term growth potential,” Peradach Patanachan, president of renewable energy business at B.Grimm Power, NERH owns and operates 26 hydropower plants in the U.S., with a total capacity of 406 megawatts and 8 megawatts of battery storage. Most of these facilities are in Maine, with the rest in New Hampshire, and together they produce about 20% of New England's hydropower generation. With the latest deal, B. Grimm Power is doubling down on its renewable investment in the U.S. Last year, ita 30-megawatts hydropower plant in Northern California for $69.4 million. The group aims to reach net-zero emissions and 10 gigawatts of installed capacity by 2030. With a real-time net worth of $1.5 billion, Link is among the wealthiest in Thailand. B.Grimm, which was founded in 1878 as Siam Dispensary, was acquired by his grandfather in 1914. The company has been led by Link since 1987. He is now preparing his daughter, Caroline, to take over.
B.Grimm Bgrimm B Grimm Ai Power Ai Electricity Hydropower Solar Power Wind Power Renewable Energy
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