B.Grimm Buys 25% of US Hydropower Operator for $230 Million

B.Grimm Power Pcl has acquired a 25% stake in New England Reliable Hydropower Holdings LLC for $230 million, marking another step in the Thai power producer’s push to expand its renewable energy footprint in overseas markets.

BGP Holding (US) LLC, B.Grimm’s wholly owned unit, completed the investment in NERH on Jan. 9, according to the company’s exchange filing Monday. The transaction follows a purchase and sale agreement signed on July 10 after all closing conditions were met, it said.