November 20 (Renewables Now) - Thai company B.Grimm Power PCL (SET:BGRIM) has agreed to purchase a 30-MW solar photovoltaic (PV) project under development in Cambodia.
The ground-mount solar farm is to be built in Serie Saophoan, Banteay Meanchey Province under a 20-year power purchase agreement (PPA) with national utility Electricite Du Cambodge (EDC). The project is set to be completed by October 2020, B.Grimm said on Monday.
The company will acquire the right to the project through the purchase of 100% of Ray Power Supply Co Ltd by its subsidiary B.Grimm Solar Power at a total share value of USD 300,000 (EUR 271,000). The deal still needs to be approved by the Ministry of Mines and Energy and Cambodian authorities.
(USD 1.0 = EUR 0.90)