Electricity Generating Plc (Egco) has completed the acquisition of a 49% stake in the 339-megawatt Pinnacle IV renewable power generation facility in the United States, marking another key step in its overseas growth and clean-energy transition strategy.
The company holds the shares through its wholly owned subsidiary Egco Pinnacle IV, while the remaining 51% belongs to Apex Clean Energy Holdings, which sold the shares to Egco.
The Pinnacle IV Portfolio comprises two fully operational assets: the 189MW Timbermill wind farm in North Carolina, operating within the PJM Interconnection — the US’s largest wholesale power market — and the 150MW Coldwater River Solar project in Michigan, located within the Midcontinent Independent System Operator region.
“Both assets deliver stable, predictable cash flows, eliminating construction or early-stage development risk,” said Tawatchai Sumranwanich, president of Egco.
The value of the asset acquisition was not disclosed.
The deal deepens Egco’s growing presence in the US energy market, where it has steadily built a diversified portfolio over the past several years.
The company first entered the US renewable energy space with targeted wind and solar investments, establishing a foothold in key regional markets characterised by strong power demand growth, policy support for decarbonisation and rising power demand driven by data centres, artificial intelligence infrastructure and digital expansion.
Egco’s acquisitions have spanned wind, solar and hybrid assets across multiple independent system operator markets.
The latest asset acquisition positions Egco as a significant foreign investor in US clean energy.
Investing in Pinnacle IV advances Egco’s “Power 4” strategic pillars: energising profitability, sharpening sector focus and optimising its generation mix.
“The US remains a core growth market, underpinned by robust long-term electricity demand and accelerating the shift towards renewables,” said Mr Tawatchai.
“This transaction strengthens our renewable footprint and balances our geographic and technological diversification.”
The company will continue to seek more business opportunities in the US, which remain under evaluation as it targets sustainable growth aligned with global net-zero objectives.
Since entering the US market in 2021 by acquiring a 17.46% stake in Apex Clean Energy Holdings, Egco has consistently expanded its North American presence.