Pact signed to develop renewable energy projects in GCC
Published: 02:05 PM,May 29,2024 | EDITED : 06:05 PM,May 29,2024
BUSINESS REPORTER
MUSCAT, MAY 29
Three Eight Six Holdings Ltd, a Solar IPP operating in the Gulf Cooperation Council (GCC) region with a focus on Commercial & Industrial (C&I) customers, announced yesterday a strategically significant partnership with B Grimm Power Public Company Limited, a key player in the South-East Asian region for sustainable energy solutions, with an extensive international track record.
B Grimm Power Public Company Limited, Minas Investments LLC, and Green Synergy Consulting FZCO have acquired a 49% equity stake in Three Eight Six Holdings Ltd. Three Eight Six Holdings Ltd has subsidiaries in the United Arab Emirates, Kingdom of Saudi Arabia, and Bahrain. It will be poised to leverage B Grimm Power's experience and capabilities to jointly develop solar energy projects in the GCC region.
“We want to be the front runner in renewable energy developments in the GCC to make a strongly positive and sustainable impact in the region. With our new partnership, we have a clear ambition to develop and operate 100 MW of C&I solar projects by 2025,” said Ahmad Al Khayyat, Chairman of Three Eight Six Group.
“This marks the beginning of a cleaner and greener future for the Middle East, thereby finally putting it on the world map for energy transformation,” said Dr Harald Link, President of B Grimm Power Public Company Limited.
MUSCAT, MAY 29
Three Eight Six Holdings Ltd, a Solar IPP operating in the Gulf Cooperation Council (GCC) region with a focus on Commercial & Industrial (C&I) customers, announced yesterday a strategically significant partnership with B Grimm Power Public Company Limited, a key player in the South-East Asian region for sustainable energy solutions, with an extensive international track record.
B Grimm Power Public Company Limited, Minas Investments LLC, and Green Synergy Consulting FZCO have acquired a 49% equity stake in Three Eight Six Holdings Ltd. Three Eight Six Holdings Ltd has subsidiaries in the United Arab Emirates, Kingdom of Saudi Arabia, and Bahrain. It will be poised to leverage B Grimm Power's experience and capabilities to jointly develop solar energy projects in the GCC region.
“We want to be the front runner in renewable energy developments in the GCC to make a strongly positive and sustainable impact in the region. With our new partnership, we have a clear ambition to develop and operate 100 MW of C&I solar projects by 2025,” said Ahmad Al Khayyat, Chairman of Three Eight Six Group.
“This marks the beginning of a cleaner and greener future for the Middle East, thereby finally putting it on the world map for energy transformation,” said Dr Harald Link, President of B Grimm Power Public Company Limited.