06-07-2025
Egco seeks 4-5 fresh acquisitions in second half
SET-listed Electricity Generating (Egco), the power generation arm of Electricity Generating Authority of Thailand, continues to expand its business overseas with investment in a Taiwanese wind farm as it seeks to clinch an additional 4-5 merger and acquisition deals in the second half of this year.
Egco is in talks with companies in Thailand and abroad, with the focus on assets in the US and Middle East, said Jiraporn Sirikum, president of Egco.
"We are seeking new opportunities for investment in energy projects, including renewable energy, to rack up revenue in foreign countries," she said.
Egco's investment in the Yunlin offshore wind farm, which spans 82 square kilometres in Taiwan, is expected to generate 2 billion baht a year in revenue for the company over the first five years of its operation, said Ms Jiraporn.
The company holds a 26.5% stake in Yunneng Wind Power Co, a joint venture set up to operate the wind farm, which started supplying electricity in January this year.
Located in the Taiwan Strait, known as a high-wind zone, the wind farm comprises 80 wind turbine generators with a total electricity generation capacity of 640 megawatts.
The facility can supply power to 600,000 families, or 90% of electricity demand for households in Yunlin county.
Egco is also interested in co-developing a massive gas pipeline project in the US state of Alaska, which is supported by US President Donald Trump.
The Alaska venture is seen as part of Thailand's efforts to ramp up investment in the US to ward off the Trump administration's plan to impose a hefty reciprocal tariff on goods imported from Thailand.
The investment in Alaska would expand Egco's business in the US, following its announcement last month of an agreement with Apex Pinnacle II Member Llc to acquite a 49% share in its Pinnacle II Portfolio, which comprises the 126MW Downeast wind farm in Maine and the 125MW Wheatsborough solar farm in Ohio.
