BCPG acquistion natural gas power plants in the US

Energy
Editorial staff

BCPG closes a nine billion acquisition deal for 426 MW of net capacity in two natural gas power plants in the US

Mr Niwat Adirek, president and CEO of BCPG Plc disclosed that on July 12, 2023, the company successfully closed on the acquisition of a 25% interest in Hamilton Holdings II, LLC from Franklin Power Holdings, LLC with an investment amount more than nine billion baht. The transaction added 426 MW of production capacity in the United States to BCPG's portfolio through two natural gas power plants in Pennsylvania,

They are Hamilton Liberty LLC ("Liberty”): an acquisition of 25% in an 848-MW combined cycle gas turbine (CCGT) power plant in Asylum County, Pennsylvania, United States. The transaction resulted in 212 MW of net capacity owned by BCPG, and
Hamilton Patriot LLC ("Patriot”): an acquisition of 25% in an 857-MW combined cycle gas turbine (CCGT) power plant in Clinton County, Pennsylvania, United States. The transaction resulted in 214 MW of net capacity owned by BCPG.

“We entered into purchase and sale agreement with Franklin Power Holdings, LLC on March 31, 2023 to invest in two natural gas power plants through an acquisition of 25% of Hamilton Holdings II, LLC with an investment amount of USD 260 million or nine billion baht approximately. On July 12, 2023, we successfully closed the transaction and immediately started revenue recognition from the two power plants”, said Mr Niwat.

Hamilton Holdings II, LLC owns two natural gas power plants, Hamilton Liberty LLC and Hamilton Patriot LLC, in Pennsylvania, United States, with a total production capacity of 1,705 MW. Through its investment, BCPG increased its capacity, according to its investment proportion, by 426 MW. BCPG currently invests in four natural gas power plants in the US, with a total production of 577 MW, resulting in a 30% increase in BCPG’s total production capacity of 1,744 MW.