Electricity Generating Public Company Limited (EGCO Group) has deepened its presence in the United States renewable energy market through the acquisition of a 49% ownership interest in the 251 MW “Pinnacle II Portfolio,” comprising wind and solar projects. The move aligns with the company’s “Triple P” strategy, which emphasizes long-term investments in natural gas-fired and renewable energy infrastructure to support a clean energy transition.
The acquisition was made through EGCO Pinnacle II, LLC, a wholly owned US-based subsidiary of EGCO Group. On March 31, 2025, the subsidiary entered into an Equity Capital Contribution Agreement with Apex Pinnacle II Member, LLC—an affiliate of Apex Clean Energy Holdings, LLC—for the strategic stake in the Pinnacle II Portfolio.
The portfolio includes two projects currently in the final stages of construction:
- Downeast Wind, LLC: A 126 MW wind farm located in Maine.
- Wheatsborough Solar, LLC: A 125 MW solar facility located in Ohio.
Both projects have secured long-term power and environmental attribute offtake agreements with investment-grade buyers. Downeast is expected to generate sufficient clean electricity to power over 37,000 households annually and contribute to Maine’s target of 80% renewable energy by 2030. Wheatsborough is anticipated to supply power to approximately 21,000 households per year, helping alleviate grid congestion by supporting infrastructure needs in Ohio.
EGCO Group stated that the 49% ownership interest will be transferred upon each project’s commercial operation date. The acquisition is projected to be financially accretive and will further balance the company’s growing footprint in the US energy sector.
“This investment strengthens our US operations and contributes directly to our goal of increasing renewable energy to 30% of our total capacity by 2030,” said Dr. Jiraporn Sirikum, President of EGCO Group. “Despite current trade challenges between Thailand and the US, our partnerships remain strong, allowing us to continue pursuing high-potential energy projects in the American market.”
The acquisition underscores EGCO Group’s commitment to expanding its international renewable energy portfolio while supporting global decarbonization efforts.
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