Electricity Generating Public Company Invests in Two US Renewable Energy Projects

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Electricity Generating Public Company Invests in Two US Renewable Energy Projects

MT Newswires Live12:26

Electricity Generating Public Company (SET:EGCO) invested in a portfolio of two renewable energy projects in the U.S. with an aggregate generating capacity of 339 megawatts.

The company, through its U.S. unit EGCO Pinnacle IV, acquired a 49% membership interest in Project Pinnacle IV, with Apex Pinnacle IV Member retaining the remaining 51%, according to a Monday filing with the Singaporean bourse.

The portfolio comprises the 189-megawatt Timbermill wind farm in North Carolina and the 150-megawatt alternating current Coldwater River solar facility in Michigan.

Both projects are operational and have long-term power and environmental attribute offtake arrangements with investment-grade counterparties.

The transaction was completed on Sept. 25, following execution of the equity capital contribution agreement on Sept. 18, but the disclosure was delayed as the transaction was part of an ongoing competitive bidding process.

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