EGCO closes Apex joint venture deal with 17.46 percent stake in the US clean energy market

Mr. Theparat Theppitak, President Electricity Generating Public Company Limited or EGCO revealed that referring to the Company’s information, No. EGCO 110/329 dated October 7, 2021, which was notified to the Stock Exchange of Thailand Know about indirect investment in the company Apex Clean Energy Holdings, LLC (Apex) This is an investment of EGCO Plus Company Limited (EGCO Plus), a wholly owned subsidiary of EGCO.

On Oct. 5, EGCO Plus signed a definitive agreement for an indirect investment of 17.46% in Apex as a joint investor in a joint venture company. It is managed by the Infrastructure and Energy Strategy Group of Ares Management Corporation (NTSE: ARES).

In this regard, the joint venture company has signed an agreement to acquire the majority of Apex shares, whereby EGCO has been approved by the Board of Directors. In the meeting No. 10/2021 on 30 Sept. In this regard, EGCO would like to inform the SET that The joint investment of EGCO Group was completed on 17 Nov.

Apex is a leading development company.clean energy projectlarge in the United States, which
Total revenue of more than 10 billion US dollars. Since its inception in 2009 and selling clean energy projects to
Customers in the commercial and industrial markets in the past 10 years

This investment is the EGCO Group’s first large-scale renewable energy project investment in the United States.renewable energy projectMany large new projects

such as Wind, Solar and Energy Storage Projects in one of the world’s largest electric power markets which has an installed power generation capacity of more than 1,100 gigawatts and has the opportunity to expand investment in renewable energy in the future

In addition, the investment is in line with EGCO Group’s business direction “Cleaner, Smarter and Stronger to Drive Sustainable Growth” to achieve the goal of carbon neutrality by 2050, which is in line with the global community towards a low-carbon society.