Logo of Phnom Penh Post newspaper Phnom Penh Post - Firm completes purchase of solar project in Banteay Meanchey

Firm completes purchase of solar project in Banteay Meanchey

Content image - Phnom Penh Post
B Grimm Solar Power entered into a share purchase agreement to acquire Ray Power for a total consideration of $300,000. Heng Chivoan

Firm completes purchase of solar project in Banteay Meanchey

Thailand-based energy company B Grimm Power Plc’s wholly-owned subsidiary, B Grimm Solar Power 1, has completed its acquisition of Cambodia’s Ray Power Supply Co Ltd.

“[Ray Power] would like to update the progress [of the transaction]. The share transfer has officially completed and approval from relevant authorities has been granted,” it said in a filing to the Stock Exchange of Thailand.

The company announced late last year that B Grimm Solar Power 1 entered into a share purchase agreement to acquire all the shares of Ray Power for a total consideration of $300,000.

Ministry of Mines and Energy spokesman and director-general of the ministry’s General Department of Energy Victor Jona previously told The Post that the ground-mounted solar power system will cover about 40ha of land in Banteay Meanchey province’s Sisophon town.

The Kingdom has approved several solar energy projects with a total capacity of 410MW and the company will discuss the share transfer in detail with Electricite du Cambodge (EdC), Jona said.

The deal authorises B Grimm Power to develop the photovoltaic project in line with a 20-year power purchase agreement with EdC, he said.

B Grimm Power has set aside more than 38.5 billion baht ($1.26 billion) for investment in its power projects to achieve 5,000MW by 2022, its CEO Preeyanart Soontornwata said last year, Thailand’s the Nation reported.

The company is currently developing renewable energy in Thailand, Vietnam, Laos, Cambodia, South Korea and the Philippines.

“We will focus on green energy such as solar, wind and hydropower in Thailand and other countries in Asia,” she was quoted in the Nation.


  • With herd immunity likely in 2022, is Cambodia ready to reopen for tourism?

    The government aims to inoculate 80 per cent of the target population by June next year, giving it a head start among regional peers to reboot the sector but first, it has to do a few things to up its game A sign on a glass

  • US wants 'full access' to Ream Naval Base

    On June 11, the US embassy's Defense Attaché Colonel Marcus M Ferrara visited Ream Nava Base in coordination with Cambodian officials following the recent approval of Prime minister Hun Sen to allay the concerns on Chinese military presence at the base as raised by US Deputy

  • Jab drive heading to 5 provinces

    The government is set to vaccinate more than 1.2 million people in five provinces after finishing with Phnom Penh and neighbouring Kandal in an ongoing campaign administered by the ministries of Health and National Defence. The five provinces are Preah Sihanouk, Kampong Speu, Takeo, Kampong Cham

  • New immigration bill targets illegal foreigners in Kingdom

    General Department of Immigration (GDI) officials are discussing revisions to the new draft law on immigration to prevent foreigners from entering Cambodia illegally and to supervise those living in the Kingdom more effectively. The revisions draw wide support among civil society organisations. GDI director-general Kirth

  • Kingdom set to be a gold producer

    Cambodia will soon join the roster of gold producing countries after the government announced the commencement of commercial gold mining operations in the Okvau area in southwestern Mondulkiri province's Keo Seima district from June 21. Prime Minister Hun Sen on June 10 announced that after 14 years of

  • School reopening can’t wait

    With the Covid-19 pandemic now well into its second year, safely reopening schools has become an urgent priority. School attendance is critical for children’s education and lifetime prospects. The long-term costs of closures – both for individual children and society – are simply too large to