EGCO Group acquires interest in Linden Cogen Facility in New Jersey
Electricity Generating Public Company Limited or EGCO Group announced today its first successful investment in a 972 MW natural gas-fired cogeneration facility situated in Linden, New Jersey, USA owned by Linden Topco LLC.
The Linden cogeneration facility sells the energy, capacity, and ancillary services into the New York System Operator (NY-ISO Zone J) and the PJM PS North power market in New Jersey; two of the most congested and capacity-constrained power markets in the United States. The facility also enjoys long-term process steam and electricity sales contracts with large investment-grade industrial off-takers.
EGCO Linden II, LLC, a wholly-owned subsidiary of EGCO, entered into a purchase and sale agreement with AEIF Linden SPV, LLC and Highstar Capital GP IV, L.P. on January 29, 2021, to acquire a 28% ownership interest in Linden Topco. The Transaction is expected to close in the second quarter of this year following successful completion of all closing conditions.
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