EGCO Group closes deal on “Compass power plant group” in the United States

Electricity Generating Public Company Limited or EGCO Group has successfully closed a deal to purchase 50% of shares in the 'Compass Power Plant Group' with a total production capacity of 1,304 megawatts in the United States. This success brings the EGCO Group's shareholding capacity to an additional 652 megawatts. Mr. Theparat Theppitak, President of EGCO Group, revealed that EGCO Compass II, LLC, a wholly-owned subsidiary of EGCO registered in the United States, has completed its investment in 'Compass Power Plant Group' on January 9, 2024, resulting in EGCO Group having additional production capacity according to its shareholding proportion of 652 megawatts and able to recognize income according to its shareholding proportion immediately. After the closing date The 'Compass Group' consists of three combined cycle power plants: Marcus Hook Energy, LP (Marcus Hook), capacity 912 megawatts, located in Pennsylvania; Milford Power, LLC (Milford), capacity 205 MW and Dighton Power, LLC (Dighton), 187 MW, both located in Massachusetts. All three plants are strategically located. Close to the centers of major cities with very high electric usage, including Philadelphia, Boston, and Providence. These areas have severe restrictions on the construction of new power plants. and has a policy aimed at energy transition towards using clean energy. This requires the power to produce electricity that enhances the stability of the system. The Compass Group benefits from Marcus Hook, which has a long-term contract to sell the majority of its capacity to The Long Island Power Authority (LIPA) and the remainder to the PJM Power Marketplace. The Milford and Dighton power plants sell their capacity to the New England Power Exchange (ISO-NE). Additionally, all three power plants sell electricity and provide systems security services to the Power Exchange. in the area where each power plant is located Source: Thai News Agency