EGCO acquires 45% stake in the 615-megawatt Astoria Energy II power plant in the United States

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โดย อีไฟแนนซ์ไทย·USTH·Read original
Summary · why it matters

EGCO has invested in a 45.0549% stake in Astoria Energy II LLC, or AE II, a natural gas-fired combined-cycle power plant with a generating capacity of 615 megawatts, located in Queens, New York, United States. Thawatchai Samranwanich, President and Chief Executive Officer of Electricity Generating Public Company Limited, or EGCO, informed the Stock Exchange of Thailand that on September 16, 2026, its subsidiary EGCO New York, LLC, registered in the United States, signed a share purchase agreement with Gulf Pacific Power, LLC, or GPP, a private equity fund, to acquire the indirect stake in AE II from GPP. The transaction was approved by the company's board of directors at its 7/2569 meeting on June 15, 2026, prior to July 1, 2026, the date on which the Securities and Exchange Commission's regulation No. ThorJor. 45/2568 took effect. EGCO stated that the investment in AE II will add value and aligns with its strategy of acquiring well-performing natural gas power plant projects, while enhancing its growth in the United States energy market. The power plant began commercial operation in July 2011 and sells electricity and provides system reliability services under a long-term tolling agreement with the New York Power Authority, or NYPA, which is wholly owned by the State of New York. The transaction value was not disclosed, as EGCO considers that the amount payable may be adjusted under the related share purchase documents and may change due to various factors, including factors beyond the control of the contracting parties.

Impact on stocks 1

Energy Transition & Power Demand▲ · 1 stocks

Theme Impact 1

Off-coverage companies 3

Astoria Energy II LLCPrivate▲ Positive
Capitalrelevance

Astoria Energy II gains EGCO as a 45.05% indirect owner via the share purchase agreement with Gulf Pacific Power.

EGCO New York, LLCPrivate▲ Positive
Capitalrelevance

EGCO New York, LLC signed the share purchase agreement to acquire the indirect stake in AE II.

Gulf Pacific Power, LLCPrivate▲ Positive
Capitalrelevance

Gulf Pacific Power sells its indirect stake in Astoria Energy II to EGCO New York under the share purchase agreement.

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