EGCO signs October 15 deal to raise US plant stake to 50%
EGCO’s proposed investment in the 980MW Linden Cogen plant targets growing US electricity demand from data centres and artificial intelligence.
- Thailand's EGCO Group signed an agreement on October 15 to acquire an additional 12% stake in the Linden Cogen power plant in New Jersey, raising its total ownership to 50%.
- The company expects the increased investment to immediately generate higher dividend income and net earnings, while also giving it a greater strategic role in the plant's operations.
- This acquisition is part of EGCO's strategy to capitalize on rising US electricity demand, driven specifically by data centers and artificial intelligence.
- The Linden Cogen plant is a strategic asset because it supplies two major markets (New York and New Jersey), has long-term revenue contracts, and has hydrogen co-firing capabilities.
Thailand’s Electricity Generating Public Company Limited (EGCO Group) has agreed to buy an additional 12% stake in the approximately 980MW Linden Cogen power plant in New Jersey, which would increase its total holding to 50%.
EGCO’s wholly owned subsidiary, EGCO Linden II, LLC, signed an Equity Purchase Agreement on October 15, 2026, to acquire the additional interest in Linden TopCo LLC, which operates the natural gas-fired cogeneration plant.
“The transaction will be completed once the conditions under the Equity Purchase Agreement have been fulfilled,” said Tawatchai Sumranwanich, president of EGCO Group.
EGCO expects higher earnings once the deal closes
EGCO expects the additional investment to generate higher dividend income and incremental net earnings immediately upon completion. Tawatchai said expanding the investment in an established asset would also give EGCO a greater strategic role in shaping the plant’s operations.
EGCO is targeting growing US electricity demand, particularly from data centres and artificial intelligence, as it expands its presence in the country’s power sector.
Linden Cogen supplies New York and New Jersey
EGCO identified three main strengths underpinning the investment in Linden Cogen:
Access to two major electricity markets. Linden Cogen’s units 1–5, with combined capacity of approximately 800MW, supply electricity and ancillary grid services to the New York Independent System Operator’s Zone J market. Unit 6, with capacity of 180MW, supplies the PJM PSEG electricity market in New Jersey. EGCO said both markets faced high demand and tight reserve capacity, placing Linden Cogen in a strategic position to support regional grid reliability.
Long-term revenue visibility. Linden Cogen has long-term steam and electricity sales contracts with major investment-grade counterparties. EGCO said these agreements supported steady cash flow and reduced exposure to market fluctuations.
Hydrogen co-firing capability. Linden Cogen’s unit 6 has successfully operated using a blend of natural gas and hydrogen. EGCO said the technology supported its net-zero ambitions, including a target to reduce carbon dioxide emissions intensity by 10% by 2030, alongside further development of hydrogen co-firing in power generation.
EGCO’s US equity capacity exceeds 1,600MW
EGCO reported more than 1,600MW of US generating capacity attributable to its ownership interests across flexible gas-fired assets and renewable energy investments. EGCO’s US portfolio includes Compass Portfolio, Apex Clean Energy, Pinnacle II, Pinnacle IV and Linden Cogen.
EGCO said rapidly rising demand from data centres and artificial intelligence reinforced the role of flexible gas-fired power plants in providing baseload electricity and maintaining grid stability alongside the longer-term transition to clean energy.
