EGCO Raises US Linden Cogen Stake to 50% for AI Boom
EGCO Group has raised its stake in the Linden Cogen power plant in New Jersey to 50% to tap into the booming data‑center and AI electricity demand. The deal, executed via subsidiary EGCO Linden II LLC, increases ownership from 38% to 50% after conditions are met and provides dual‑market access to NYISO and PJM grids, long‑term revenue contracts and hydrogen co‑firing capability. The move reflects EGCO’s asset‑recycling strategy and expands its US portfolio beyond 1,600 MW.
EGCO Group announced it has signed an agreement to acquire an additional 12% share in the natural‑gas‑fired Linden Cogen cogeneration plant, bringing its total ownership to 50%. The plant, with a capacity of about 980 MW, is located in New Jersey and supplies electricity to the New York‑New Jersey area through two separate markets: units 1‑5 (≈800 MW) serve the NYISO Zone J grid, while unit 6 (180 MW) sells power to the PJM PSEG market in New Jersey. The transaction will be completed through EGCO’s subsidiary EGCO Linden II LLC once all conditions in the Equity Purchase Agreement are met.
Thavatchai Sarnwanich, President of EGCO Group, said the increased stake expands investment on a solid asset base, will immediately boost dividend income and net profit, and enhances EGCO’s strategic role in managing the plant’s operations.
He highlighted three strengths of Linden Cogen: first, dual‑market access to high‑demand electricity markets (NYISO Zone J and PJM PSEG), which tightens supply conditions and lets the plant support regional grid stability; second, long‑term revenue visibility from steam and electricity sales contracts with investment‑grade counterparties ensuring steady cash flow; third, the plant’s unit 6 has successfully run on a natural‑gas‑hydrogen blend, positioning it as a leader in low‑carbon fuel and supporting EGCO’s Net Zero goal of cutting CO₂ emissions by 10% by 2027 while developing hydrogen co‑firing technology.
EGCO’s total US‑based generation capacity now exceeds 1,600 MW, including the Compass Portfolio, Apex Clean Energy group, Pinnacle II, Pinnacle IV and Linden Cogen. With US electricity demand soaring from data centers and AI, flexible natural‑gas plants like Linden Cogen remain essential for grid stability alongside the long‑term shift to clean energy.
The company reaffirmed its commitment to financial discipline, focusing on clear value‑unlocking investments to drive stable profit growth, dividend increases and gold‑standard returns for shareholders.
