EGCO Group Acquires 49% Stake in 339 MW Pinnacle IV Wind and Solar Portfolio in Oklahoma and Texas

Thailand's EGCO Group has closed the acquisition of a 49% stake in the Pinnacle IV portfolio, comprising the 222 MW Comanche Wind Farm in Oklahoma and the 117 MW Cactus Flats II Solar Plant in Texas, for a total transaction value of approximately THB 5,861 million. Both assets are operational and backed by long-term PPAs with investment-grade utilities.

Transaction date: · Source: egco.com

Key facts

Transaction date
Capacity
339 MW
Transaction price
Not disclosed
Region
Oklahoma and Texas
Location
Comanche County, Oklahoma (wind) and Howard County, Texas (solar)
Continent
North America
Development status
Operational
PPA
Yes

Technology details

Portfolio comprising two operational assets: (1) Comanche Wind (222 MW) in Comanche County, Oklahoma, operational since December 2020 — a 222 MW onshore wind farm using GE turbines; (2) Cactus Flats II Solar (117 MW) in Howard County, Texas, operational since October 2024 — a 117 MW solar PV plant. Both sell power via long-term PPAs.

Power purchase agreement (PPA)

Both assets sell power under long-term Power Purchase Agreements with investment-grade utility offtakers. Further details not disclosed.

Additional information

EGCO acquires a 49% equity stake. Total transaction value of THB 5,861 million (approximately USD 174 million / EUR 159 million). EGCO's share of the consideration is THB 2,872 million (approximately USD 85 million). The remaining 51% is retained by Pinnacle Power. PPAs are in place with investment-grade utility offtakers. Expected net profit contribution to EGCO of approximately THB 250 million annually. EGCO is Thailand's leading power producer listed on the Stock Exchange of Thailand (SET: EGCO).

Source

Original announcement: https://www.egco.com/en/newsroom/press-releases/606/egco-group-closes-49-stake-in-us-339-mw-wind-and-solar-farm-portfolio-pinnacle-iv-boosting-overseas-green-energy-and-earnings

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