Gulf Energy to acquire 49 per cent stake in 1.2 GW power project in the US

Gulf Energy, a Thailand based energy investment company, paid $409 million for a 49 per cent equity stake in Illinois’ Jackson Generation, a 1.2 GW gas-fired power project. Gulf Energy USA, a subsidiary of the corporation, completed the transaction by signing a purchase and sale agreement with J-POWER Jackson Partners. The power plant is owned by Jackson Partners under J-POWER Group.

The Pennsylvania-New Jersey-Maryland Interconnection (PJM), a regional transmission organisation, has been receiving power from Jackson Generation. Furthermore, PJM manages the highest dependability and electricity demand in the US by managing the movement of wholesale energy in 13 states and the District of Columbia. Under the name Gulf JP Group, J-POWER Group is a joint venture partner in Gulf Energy’s gas-fired power plants.

In July 2020, a subsidiary of the company agreed to acquire Borkum Riffgrund II Investor Holding, which owns 50 per cent of the Borkum Riffgrund II offshore wind farm.

GET ACCESS TO OUR ARTICLES

Enter your email address