Thai Gulf Energy invests in US CCGT
Thailand’s Gulf Energy Development Public Company has signed an agreement to acquire a 49% equity stake in Jackson Generation, a combined-cycle gas turbine (CCGT) power project in the US, with an investment value of $409.6mn, it said on September 9 in a stock exchange filing.
Jackson Generation is a 1.2 GW gas-fired power project located in Will County, Illinois that started commercial operation in May this year. It supplies electricity to the Pennsylvania-New Jersey-Maryland Interconnection.
The transaction, which is subject to customary closing conditions, in particular the receipt of required regulatory approvals, is expected to complete within December 2022.
Currently, Jackson Generation is wholly owned by Jackson Partners under J-Power Group. The investment in Jackson Generation marks Gulf Energy’s first step into the US energy market.