EGCO joins Apex in US Pinnacle II energy portfolio deal

Electricity Generating Public Company Limited took 49% of Apex’s Pinnacle II portfolio, including a 126 MW wind project in Maine and 125 MW solar project in Ohio.

By Prudhvi Rani 09 Apr 2025 in America Bytes Business Bytes

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Downeast Wind and Wheatsborough Solar created 350 jobs and added $55 million in projected local tax revenue. Image Credit/Source: Pixabay/Pexels

Apex Clean Energy, a US-based independent power producer, announced a partial sale of its energy asset portfolio to Electricity Generating Public Company Limited (EGCO Group). The deal involved a 49% stake in the Pinnacle II portfolio, which includes the 126 MW Downeast Wind project in Maine and the 125 MW (AC) Wheatsborough Solar project in Ohio. Apex kept the remaining share and will continue to manage operations. This was Apex’s second capital recycling transaction. The deal is expected to close in the second quarter of 2025. Both projects are nearly complete and plan to start operating in 2025. They created 350 construction jobs and are expected to generate $55 million in local tax revenue over their lifetimes. Apex currently has over 2.2 GW of energy assets either operating or being built.

#US #WheatsboroughSolar #EGCOGroup #ApexCleanEnergy

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