EGCO boosts U.S. clean energy investment
New 49 % stake in wind and solar projects supports EGCO’s global green energy ambitions and aligns with its 2030 renewable goals.
Image for illustration purposes
USA, Maine / Ohio: Electricity Generating Public Company Limited (EGCO Group) has strengthened its position in the U.S. renewable energy sector by acquiring a 49 % stake in the 251 MW Pinnacle II Portfolio, which includes both wind and solar assets. This strategic move is in line with the company’s “Triple P” policy, focused on sustainable investments in gas and renewable energy projects that aid the transition to low-carbon power generation.
The investment was executed through EGCO Pinnacle II, LLC, EGCO’s wholly owned U.S. subsidiary. On March 31, 2025, the entity entered into an Equity Capital Contribution Agreement with Apex Pinnacle II Member, LLC, an affiliate of Apex Clean Energy Holdings, LLC, to finalize the deal.
The Pinnacle II Portfolio consists of two renewable energy developments nearing completion:
- Downeast Wind, LLC – a 126 MW wind farm in Maine
- Wheatsborough Solar, LLC – a 125 MW solar plant in Ohio
Both facilities have secured long-term agreements for energy and environmental attribute sales with highly rated buyers. Downeast Wind is expected to supply enough renewable energy to power over 37,000 homes annually, helping Maine achieve its 80 % renewable energy goal by 2030. Meanwhile, Wheatsborough Solar will provide electricity to approximately 21,000 households each year, while easing grid pressure and supporting infrastructure growth in Ohio.
EGCO noted that the 49 % ownership will be transferred upon each project’s entry into commercial operation. The investment is anticipated to deliver financial benefits and enhance EGCO’s balanced expansion across the U.S. power sector.
“This venture fortifies our presence in the U.S. and supports our commitment to reach 30% renewable capacity by 2030,” said Dr. Jiraporn Sirikum, President of EGCO Group. “Despite trade headwinds between Thailand and the United States, our collaborations remain solid, allowing us to tap into high-potential energy markets.”
This acquisition further highlights EGCO Group’s dedication to expanding its global portfolio in clean energy and supporting worldwide efforts toward carbon neutrality.
Source: Solar Quarter
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