B.Grimm Power has taken a significant step towards positioning itself as a global player in the renewable energy industry. BGP Holding (US) LLC (“BGP”), a fully owned sub-subsidiary of B.Grimm Power, has acquired the 30 MW Malacha Hydropower Plant in northern California from Brookfield Renewable U.S and its affiliates.
The United States, particularly California, is highly committed to increasing the share of renewable energy. California’s ambitious net-zero goals and supportive policies provide fertile ground for growth and innovation in the renewable energy sector.
By leveraging innovative strategies to integrate and hybridize technologies such as solar, wind, and battery storage along with hydropower, BGP aims to produce reliably dispatchable and clean energy. The Malacha Hydropower Plant, located on the Pit River, will continue to support California’s ambitious net-zero goals with dispatchable and renewable power. Given the significant growth of non-dispatchable solar PV capacity in California, grid stability is becoming increasingly important. Malacha is an asset that addresses this critical need by providing stable, dispatchable power.
BGP has extensive plans to continue acquiring and developing strategic renewable energy generation plants in the Californian and other U.S. markets. This acquisition marks a new milestone in the implementation of B.Grimm Power’s GreenLeap strategy, aimed at geographic and technological diversification. By entering the U.S. market as a renewable independent power producer, B.Grimm Power is advancing its mission to achieve net zero emissions by 2050.
“This marks an exciting new chapter for our company as we enter the expanding and dynamic U.S. market to continue our growth into renewables,” said Dr. Harald Link, President of B.Grimm Power. “Our strength lies in our ability to identify attractive assets with untapped potential. Our key to success is to move quickly through acquisitions and anchor our position in the market. A solid local revenue base is the foundation for our future acquisition and development activities in the U.S. We are excited to become part of the local community, continuing our long tradition of community involvement and support, while maintaining and even expanding the jobs associated with the Malacha Hydropower Plant.”
