Mitihoon – Electricity Generating Public Company Limited or EGCO Group, confirmed completion of the acquisition of an additional 10% interest in Linden Cogeneration, a 980 MW natural gas-fired cogeneration facility in New Jersey. The transaction resulted in an increase in EGCO Group’s power generation capacity by 98 MW on an equity owned basis. The company will recognize immediate earnings in proportion to its shares commencing from the closing date.
Mr. Tawatchai Sumranwanich, President of EGCO Group, said that EGCO Linden II, LLC, (EGCO Linden II) a wholly owned subsidiary of EGCO domiciled in the U.S., has fulfilled all relevant closing conditions under the Equity Purchase Agreement with HPJV1 LLC, a co-investor in Linden TopCo LLC (Linden TopCo), necessary to acquire the 10% ownership interest in Linden TopCo. The investment transaction was completed on 12 December 2025. As a result, EGCO Linden II ownership interest in Linden TopCo has increased to 38%.
Linden TopCo owns Linden Cogen, a 980MW natural gas-fired cogeneration facility situated in the State of New Jersey in the U.S. that has an electric interconnection to New York City. The Linden Cogen facility consists of Linden Units 1-5 (800MW) which sell electricity, electric capacity and ancillary grid services into the New York System Operator (NY-ISO Zone J) market and Linden Unit 6 (180MW) which sells energy and capacity to the PJM PSEG power market in New Jersey. These are two of the most congested and capacity constrained power markets in the U.S. The facility also enjoys long-term process steam and electricity sales contracts with large investment grade industrial off-takers.
Mr. Tawatchai added, “The Linden Cogen serves two of the United States’ most dynamic power markets including New York City. This investment reinforces the company’s strategic presence in the U.S. power market and supports its long-term sustainable growth. Additionally, the investment is anticipated to deliver strategic benefits to EGCO Group, including increased dividend income, incremental net earnings, and enhanced authority in key decision-making processes of the company. These advantages will support improved operational efficiency and cost management across various areas, such as finance, operations, marketing, and future project development.”
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