EGCO Group Strengthens US Presence, Increasing Stake to 50% in 980 MW Linden Cogen Power Plant Supplying New York and New Jersey

 

EGCO Group Strengthens US Presence, Increasing Stake to 50% in 980 MW Linden Cogen Power Plant Supplying New York and New Jersey

 

Realizes Dividend Income and Immediate Incremental Net Earnings; Capitalizes on Data Center & AI Boom while Advances Hydrogen Co-firing Technology Toward Gold Standard in Low-Carbon Energy Era

 

Electricity Generating Public Company Limited or EGCO Group reinforces its international growth strategy by signing an Equity Purchase Agreement to acquire an additional 12% stake in the approximately 980-MW Linden Cogen natural gas-fired cogeneration power plant in New Jersey, USA. Executed through its wholly owned subsidiary, EGCO Linden II, LLC, the transaction will increase EGCO Group’s overall ownership to 50%. The move highlights EGCO Group’s asset recycling strategy, redeploying liquidity into high-quality, proven assets with direct access to two major high-demand US power markets (NYISO Zone J and PJM PSEG). Backed by long-term power and steam sales contracts with a large investment-grade industrial off-taker, the investment guarantees immediate incremental net earnings and dividend income upon the transaction closing, further solidifying EGCO Group’s investment portfolio in the US which is its second-largest strategic business base.

 

Mr. Tawatchai Sumranwanich, President of EGCO Group, confidently stated, “Increasing our stake in the Linden Cogen power plant to 50% reflects our capital allocation discipline under EGCO Group’s ‘POWER4’ strategy, specifically the dimension of Profitability and Performance Energizing. By leveraging our expertise in asset recycling, we redeploy capital into assets where we closely monitor performance and accurately assess risks. Expanding our investment in this solid foundation not only boosts our dividend income and immediate net earnings, but also elevates EGCO Group’s strategic role in driving the operational direction of the facility with enhanced efficiency.”

 

The transaction is conducted through EGCO Linden II, LLC, a wholly owned subsidiary of EGCO, which entered into the Equity Purchase Agreement on 15 October 2026 to acquire the additional 12% ownership interest in Linden TopCo LLC. The completion of the transaction will be subject to relevant closing conditions under the Equity Purchase Agreement.

 

Three Strategic Highlights: Linden Cogen as a High-Potential Asset in US Power Markets

Linden TopCo LLC operates the approximately 980 MW Linden Cogen natural gas-fired cogeneration plant located in New Jersey, USA. Key investment highlights include:

1.Dual-Market Access to High-Demand Power Grids: Linden Cogen Units 1-5, with a combined capacity of approximately 800 MW, sells electricity, electric capacity and ancillary grid services into the New York Independent System Operator (NYISO Zone J) market. Linden Unit 6, with a capacity of 180 MW, sells energy and capacity to the PJM PSEG power market in New Jersey. Both United States power markets are experiencing high demand and tight reserve margins with Linden well placed to provide valuable grid services to the region.

2.Long-Term Revenue Visibility: long-term power and steam sales contracts with a large investment-grade industrial off-taker ensure stable, consistent cash flows insulated from market fluctuations.

3.Leader in Low-Carbon Hydrogen Co-Firing Technology: Linden Cogen Unit 6 successfully operates on a natural gas and hydrogen blend, directly supporting EGCO Group’s Net Zero targets, including a short-term goal to reduce CO₂ emissions intensity by 10% by 2030 and advance hydrogen co-firing integration in power generation.

 

Expanding the US New S-Curve and Delivering Gold Standard Returns

Mr. Tawatchai concluded, “EGCO Group currently holds an equity contract capacity of over 1,600 MW in the United States across a diverse mix of flexible natural gas assets and renewables, including the Compass Portfolio, Apex Clean Energy, Pinnacle II, Pinnacle IV, and Linden Cogen. As US electricity demand experiences exponential growth driven by the expansion of Data Centers and AI technologies, highly flexible natural gas-fired power plants remain indispensable baseload providers to ensure grid stability alongside the long-term transition to clean energy.”

 

“EGCO Group remains committed to strict financial discipline, selectively pursuing value-unlocking investment opportunities that drive resilient growth in revenue, profitability, and dividend payouts, ultimately delivering Gold Standard returns to our shareholders sustainably.”