BCPG Public Company Limited (SET: BCPG) announced on Monday that on February 15, 2023, the company has established BCPG USA Inc. as a new subsidiary in the United States of America to invest in combined-cycle gas turbine power plants.
The company’s objective is to invest in the power generation business, with an initial registered capital of USD 5,000 and the company holding 100% of the issued shares.
Subsequently, on February 17, 2023, the company entered into a share purchase and sales agreement with (1) AP Carroll County Holdings LLC (APCCH) and (2) AP South Field Holdings LLC (APSFH) (collectively sellers) with an aggregated investment value of approximately USD 115.00 million, to acquire a generation capacity of 150.98 MW, proportionate to the membership’s interest. The details are as follows:
(1) The acquisition of 49.00% of the membership interests in AP-BCPG CCE Partners LLC (AP-BCPG CCE) from APCCH. AP-BCPG CCE indirectly owns a 17.76% membership interest in Carroll County Energy LLC (CCE). This transaction contributes the addition of 60.92 MW of generation capacity to the company’s portfolio.
(2) The acquisition of 49.00% of the membership interests in AP-BCPG SFE Partners LLC (AP-BCPG SFE) from APSFH. AP-BCPG SFE indirectly owns a 15.55% membership interest in South Field Energy LLC (SFE). This transaction contributes the addition of 90.06 MW generation capacity to the company’s portfolio.