Hunton Andrews Kurth Assists Spectrum Power in Joint Investment in Rooftop Solar PV Projects

Hunton Andrews Kurth (Thailand) Limited represented Spectrum Power Company Limited (Spectrum Power) in a joint investment with B. Grimm Solar Power Rooftop Company Limited (B. Grimm Solar Power) in the development of rooftop solar PV projects in Thailand. Spectrum Power was established by a group of Thai-based private solar energy developers with a pioneer business model to install, manage, operate and maintain solar PV rooftop systems for private businesses in Bangkok and surrounding areas to help these businesses save their energy costs and reduce their carbon footprint. The investment from B. Grimm Solar Power will be used to help fund additional rooftop projects in Thailand.

B. Grim Solar Power is a wholly-owned subsidiary of the B. Grimm Group, a multi-business corporation active in the fields of energy, building and industrial systems, transport and real estate, and is the oldest infrastructure developer in Thailand. Earlier this year, the B. Grimm Group received a US$235 million loan from the Asian Development Bank to expand the group’s renewable energy business in Thailand and other ASEAN countries.

The firm advised Spectrum Power on land-use, regulatory and permitting issues; designing model lease and offtake agreements
for the rooftop portfolio; and structuring, preparing and negotiating the shareholders’ agreement for the joint investment. Hunton Andrews Kurth’s Bangkok team was led by energy and infrastructure partner Chumbhot Plangtrakul, who worked alongside associates Peerasanti Somritutai and Jitranut Narkmai and lawyer assistants Thaphanut Vimolkej and Chavisa Jinanarong, to obtain this successful outcome for the client.