Three Eight Six Holdings, B.Grimm Power to develop renewable energy projects in the Middle East

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Three Eight Six Holdings, a solar independent power producer (IPP) in the Gulf Cooperation Council (GCC) region, has announced a strategic partnership with B.Grimm Power to advance renewable energy projects in the GCC region.

Three Eight Six Holdings, a subsidiary of Three Eight Six Group, specialises in implementing and managing commercial and industrial solar projects across the UAE, Saudi Arabia, and Bahrain.

The partnership, which includes key players such as Minas Investments and Green Synergy Consulting, entails the acquisition of a 49 per cent equity stake in Three Eight Six Holdings.

This move positions the company to capitalise on B.Grimm Power’s expertise to jointly develop solar energy ventures in the UAE, Saudi Arabia, and Bahrain.

Focus on renewable energy projects

Ahmad Al Khayyat, chairman of Three Eight Six Group, expressed ambitions to lead renewable energy initiatives in the GCC, targeting the development and operation of 100 MW of commercial and industrial solar projects by 2025.

Dr Harald Link, president of B.Grimm Power, highlighted the milestone as a crucial step towards a cleaner and greener future for the Middle East, aligning with global energy transformation goals.

The investment signifies a strategic expansion and market impact, showcasing the attractiveness of the renewable energy sector in the Middle East.

B.Grimm Power’s foray into the Middle Eastern market underscores its dedication to supporting regional sustainability agendas through the partnership with Three Eight Six Holdings.