EGCO Expands US Portfolio with Stake in New York Gas Power Plant

EGCO Group (Electricity Generating Public Company Limited), a major Thai power producer, has acquired a 45% stake in the Astoria Energy II gas-fired power plant, located in New York, USA, as part of its expansion into the US market. The power plant has a capacity of 615 megawatts (MW). This acquisition is seen as part of EGCO's strategy to accelerate its international energy business, particularly in the renewable energy sector. Entry into the US market is expected to secure new revenue streams and diversify the company's energy supply. EGCO operates power generation businesses not only in Thailand but also overseas, primarily in the Asia-Pacific region. The investment in the US is expected to further advance its global strategy. Details of the transaction and future business plans are expected to be announced later. Source: MGR Online (Business)