EGCO Completes the Deal in Acquiring 972MW Natural Gas-Fired Facility in the U.S.
EGCO announced the completion in the acquisition of Linden Topco, which owns a 972 MW natural gas-fired combined cycle cogeneration facility in the U.S.
EGCO announced the completion in the acquisition of Linden Topco, which owns a 972 MW natural gas-fired combined cycle cogeneration facility in the U.S.
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Electricity Generating Public Company Limited (EGCO) stated that following the announcement dated February 1, 2021 that EGCO Linden II, LLC, a wholly owned subsidiary of EGCO, entered into a purchase and sale agreement with AEIF Linden SPV, LLC and Highstar Capital GP IV, L.P. on January 29, 2021 to acquire a 28% ownership interest in Linden Topco LLC (Linden Topco). This investment was approved by the Board of Directors of EGCO in the Meeting No.15/2020 held on December 1, 2020.
Herewith, EGCO has announced that this investment transaction was completed on June 4, 2021.
 
The transaction marks the first investment by EGCO in the United States, enabling EGCO to position itself for new investment opportunities in this large market with over 1,100GW of installed capacity and vast opportunities in renewable and natural gas-fired power facilities.
 
Linden Topco indirectly owns a 972 MW natural gas-fired combined cycle cogeneration facility (Linden Cogen Facility), sited in the State of New Jersey, the United States. The Linden Cogen Facility consists of Linden 1-5 (800MW) which sell energy, capacity, and ancillary services into the New York System Operator (NYISO-Zone J), and Linden 6 (172MW) which sells energy and capacity to PJM PS North power market in New Jersey. These are two of the most congested and capacity constrained power markets in the United States.
 
The Linden Cogen Facility also supplies steam and electricity under a long-term contract to large investment grade industrial off-takers at the co-located Bayway refinery anchored by Philipps 66.
The Linden Cogen Facility enjoys advantaged fuel supply resulting from its physical location in the city of Linden, New Jersey, and access to abundant sources of natural gas via multiple pipelines.