EGCO Group acquires 49% ownership interest in "Downeast Wind" wind farm in the US

Dr. Jiraporn Sirikum, President of EGCO Group, said, "Following the entry into an Equity Capital Contribution Agreement with Apex Pinnacle II Member, LLC, an affiliate of Apex Clean Energy Holdings, LLC, to acquire a 49% ownership interest in the Pinnacle II Portfolio on 31 March 2025, EGCO Group would like to confirm that the Downeast Wind investment was closed on 13 June 2025."

Downeast Wind is located in northern Maine and it operates within the ISO-NE power market. This region of the state benefits from high wind energy potential and the project supports the state's long term renewable energy goals. Downeast Wind has long-term power and environmental attribute offtake agreements with two investment-grade counterparties, ensuring long term revenue stability and consistency. The project's main equipment comes from reputable manufacturers and day to day operations will be supported through long-term operations and maintenance (O&M) and asset management contracts, enhancing operational efficiency and ensuring consistent performance. The wind farm is expected to generate enough clean energy to supply for more than 37,000 households per year as well as respond to Maine's energy goal of achieving 80% of its energy from renewable sources by 2030.

"The investment in the Pinnacle II Portfolio will support the continued balanced expansion of EGCO Group's position in the US power market. Additionally, the acquisition aligns with EGCO Group's "Triple P" strategy, which focuses on continuously growing revenue and profit generation capabilities and prioritizing investments in natural gas-fired and renewable energy project investments as the means to achieve long-term growth. The new renewable energy megawatts of Downeast Wind will also help EGCO Group to reach its short-term goal of increasing the portfolio's renewable capacity up to 30% by 2030", concluded Dr. Jiraporn.

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• ข่าวEGCO Group
• ข่าวo:member
• ข่าวo:ene
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